The fourth Quarter GDP came in lower than expected.
This weeks jobless claims came in higher that forcasted and last weeks report was revised showing an increase, resulting in a decline in Consumer Confidence. Obama-care has resulted in an increase per employee, leading to a decline in full-time employment hiring.
The Chicago Index fell suggesting the economy is slowing a bit.
There will be a Treasury Auction at 1pm today for $28 Billion of 7yr. Notes.
Stock Markets will be closed tomorrow, but the bond and mortgage markets will trade.
The recent decrease in rates has been unexpected and all advice points towards taking action immediately while they remain at this level.
-Nancy Bierman
Thursday, March 28, 2013
Monday, March 18, 2013
Friday, March 15, 2013
Any Stock Market correction will not result in much change to mortgage rates. The estimated maximum reduction is 25 basis points.
We are continuing to follow how the Fed will react to the Job's Report and the Payroll increase. The Fed will continue to buy Mortgage Backed Securities through the end of this year.
Rates are not expected to rebound anytime soon.
We are keeping a close eye on the 10 year note and any increase would result in us suggesting to any potential borrowers to get off the fence and lock in while these near historic interest rate lows are obtainable.
-Nancy Bierman
We are continuing to follow how the Fed will react to the Job's Report and the Payroll increase. The Fed will continue to buy Mortgage Backed Securities through the end of this year.
Rates are not expected to rebound anytime soon.
We are keeping a close eye on the 10 year note and any increase would result in us suggesting to any potential borrowers to get off the fence and lock in while these near historic interest rate lows are obtainable.
-Nancy Bierman
Monday, March 11, 2013
Today's News
Last week saw a definitive
drop below key technical market support levels, capping off with higher
mortgage rates on Friday as the markets responded to the February employment
report.
Overall we are seeing mortgage rates trending up on signs of an improved economy and record stock market performance. There will be some windows to maximize mortgage interest rate and rebate pricing this week. If you have not already, we suggest reaching out to a mortgage professional.
With the US Economic calendar light today, watch for overnight action with key data coming out of Germany, France, and Italy.
Nancy Bierman, President NMLS# 116425
Direct: (267) 685-0681
EFax: (267) 390-0008
Overall we are seeing mortgage rates trending up on signs of an improved economy and record stock market performance. There will be some windows to maximize mortgage interest rate and rebate pricing this week. If you have not already, we suggest reaching out to a mortgage professional.
With the US Economic calendar light today, watch for overnight action with key data coming out of Germany, France, and Italy.
Nancy Bierman, President NMLS# 116425
Direct: (267) 685-0681
EFax: (267) 390-0008
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