grau team wrap-up | 30F 6.000% 15F 5.250%

 

What a week for the mortgage market!  The good news - since the inflation numbers came out flat today, we can almost guarantee a -.75% Feds Rate cut on Tuesday March 18th.  This should at least give some stability to the market.  So much has happened this week, I am going to have to finish the “wrap-up” over the weekend.  Have a great weekend!

30 Fixed/apr | 6.000%/6.100%

15 Fixed/apr | 5.250%/5.350% 

 

Mortgage Update | 2.10.2008 | 30 Fixed 6.375% 15 Fixed 5.750%

 

We are set for another wild week for Fannie Mae Mortgage Backed Securities.  Today the mortgage bond market has moved 66bp again today.  30 Year Fixed interest rates lowered .125% at open, then rose about .25% by mid morning, and now sit almost equal to Friday.  The economic reports due this week are Balance of Trade [3.11], Crude Inventories [3.12], Retail Sales [3.13], Initial Jobless Claims [3.13], Consumer Price Index [3.14], and Consumer Sentiment [3.14].  Read more

Grau Team Mortgage Wrap Up | 30F 6.375% 15F 5.750% 7/1A 5.375% [1%]

This has been quite a week for Mortgage Rates.  Monday-Thursday Mortgage Backed Securities dropped -272bp.  Each 40-50bp move is equivalent to .125% change in interest rates.  Rates raised almost .75% in 4 days!  Today we made up significant gains after the Employment Report showed Non-Farm Payrolls declined by -63,000.  We have strong rates going in to this weekend and look forward to next weeks Economic Reports.

RATES for FRIDAY MAR07 Read more

grauteam update | 2.26.2008 | 30F 6.375% 15F 6% 7/1[1pt] 5.125%

 

Inflation is the hot button this week.  The Producer Price Index came in at a whopping 1.0% putting the overall year over year at 7.4%; the fastest rate of wholesale inflation since Read more

grauteam update | 2.12.2008 | 30F 5.75 7/1A 5.125%

Mortgage Backed Securities are a little off today, -28bp.  Putting pressure on the long term fixed mortgages.  There is no market moving economic news Read more

grauteam mortgage update | 2.4.2008 | 30F 5.625% 15F 5.250%

Mortgage Bonds have been inversely reacting to the Stock Market volatility.  Since the only upcoming economic reports are not High Impact Read more

grauteam mortgage strategy | 1.31.08 end of day

Tomorrow has the potential to be a huge day for mortgage rates.  The volatility we have experienced since the FED lowered the Federal Funds Rate 1.25% in a matter of days will most likely make tomorrow exciting.  The Hourly Earnings, Average Work Week, Non-farm Payrolls, Unemployment Rate, ISM Index, and Consumer Sentiment Index all are released tomorrow.  Read more

grauteam mortgage update | 1.22.2008 | 30F 5.375% 15F 4.875%

Monday’s sell off around the world due to a lack of confidence in the US Economy and fears of a recession has resulted in the Fed making a move it hasn’t since 1984!  This morning the Fed cut the Federal Funds rate by an unprecedented -75bp to 3.50%.  Read more

grauteam | mortgage update 1.14.2008

Citigroup may have to write off another $24 Billion in sub-prime related losses!  This could put 20,000 jobs in jeopardy.  That kind of news causes investors to lose confidence in stocks and could actually be a good thing for bonds.  Read more

grauteam | mortgage update 1.02.2008

Rates are going to start out excellent in 2008. This morning the Supply Management Index Report for December was 47.7; the lowest in 2007. This means there was significant contraction in the manufacturing sector.  Read more

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