My Mind on Mortgages

Mortgage rates are higher this morning. When mortgage rates touched all-time lows on Tuesday I shifted my outlook to locking.  In hindsight I shifted 3 days too early but when it comes to locking rates it usually better to lock in too early than too late. Interest rates are responding to a much better than [...]

Mortgage rates are unchanged again this morning. There’s not much going on in the interest rate markets.  Maybe this is the calm before the all-important jobs report storm? The second leg of this week’s employments reports showed that the number of people filing for jobless claims declined by slightly more than expected last week.  The [...]

Mortgage rates are unchanged again this morning. The first of three employment reports was issued this morning.  The private payroll company ADP released its version of the monthly jobs report earlier and it showed the US economy added 170,000 new jobs in January which was slightly less than expectations.  Currently, the markets are expecting 145,000 [...]

Mortgage rates are unchanged this morning. Interest rates looked like they may worsen yesterday afternoon after European leaders agreed to a new fiscal pact which includes tighter measures on member state’s budgets and a new round of bailout money.  However, this morning interest rates have stabilized on renewed concerns over Portugal and the US economic [...]

Mortgage rates are priced better morning. Mortgage rates have dipped back down to all-time low levels following the Fed’s cautious comments last week.  Optimism had been rising regarding the strength of the US economic recovery and now analysts believe the road may turn rocky once again. The economic calendar will either validate or refute the [...]

Mortgage rates are priced better morning.  Before I get into commentary one housekeeping note: ‘Mortgage Rate Update’ will be on vacation tomorrow and returning on Monday. Yesterday’s monetary policy statement + forecast has helped mortgage rates improve. Following their 2-day open market committee meeting Fed officials announced that they expect short-term interest rates to remain [...]

Mortgage rates are unchanged this morning. There is lots of noise scheduled for today but nothing that is expected to alter the course of mortgage rates. Starting in Europe, Greek finance officials and private creditors are meeting in Paris to discuss next steps for the country’s debt crisis.  Greece needs private creditors to accept steeper [...]

Mortgage rates are unchanged this morning. Starting in Europe, talks between Greek finance officials and private creditors have reportedly stalled.  Greece needs private creditors to accept deep cuts in order to qualify for another round of bailout relief and has yet to gain concessions.  Meanwhile, the International Monetary Fund is renewing warnings that if European [...]

Mortgage rates are steady this morning after rising .125% last week. European leaders are meeting today in Brussels to try and hash out fresh ideas for how to prevent financial catastrophe.  Meanwhile, the International Monetary Fund chief warned that if EU leaders are unable to generate effective policies it could result in, “a 1930s moment.” [...]

After another down day yesterday in the bond markets mortgage rates are worse again this morning.  The question now is whether or not rates will continue the path higher or stabilize and reverse lower? Optimism regarding the outcome of the European Debt Crisis is the main culprit in pushing rates higher.  So far this year [...]