Job number a miss
Updated Oct. 9, 2013
Happy Friday to you! Today the report of Non-Farm Payrolls was released. The market was expecting about 30,000 jobs lost and the actual number was 85,000. Though this is bad news for folks looking for work it is pretty good news for mortgage rates. Though rates havent improved much today a number below 30,000 would...

Rates lower today
Updated Oct. 9, 2013
Happy Tuesday to you. Rates are better today as the stock market takes a breather off a disappointing ALCOA earnings report yesterday. We are butting up against the 200-day moving average right now. I am advising my clients to lock today. I am not confident that the bulls (in the bond market) will have the power to push...

The Bulls are pushing
Updated Oct. 9, 2013
Happy Friday to you.  Mortgage bonds are enjoying a nice ride this week.  Rates have improved over the week and today with ecomonic news that has been bond friendly.   Currently mortgage bonds have pushed above the 25-day moving average and are doing battle at the 200-day moving average...

The Bulls are pushing
Updated Oct. 9, 2013
Happy Friday to you. Mortgage bonds are enjoying a nice ride this week. Rates have improved over the week and today with ecomonic news that has been bond friendly. Currently mortgage bonds have pushed above the 25-day moving average and are doing battle at the 200-day moving average. If the Bulls can push bonds up...

bulls are winning...for now
Updated Oct. 9, 2013
Last Friday I posted a blog that bond traders were battling around the 200-day moving average. The mortgage bonds did close just above the 200-day moving average on Friday and we have managed to stay above this level. Given that the 200-day moving average is a strong level of support, both on the upside and down, it...

BIg Fed Day
Updated Oct. 9, 2013
Its a big day today.  The Fed is going to be meeting this afternoon and those minutes may indicate if the Fed is going to continue to keep rates low for an extended period, if they are going to extend the mortgage bond purchase program, and if they see anything in the markets that we may not be seeing.  With...

Fed to end MBPP
Updated Oct. 9, 2013
Well...The Fed met on the 27th and did announce it did not have plans to expand, or extend, their mortgage bond purchase program.   This means the Fed will not be a mortgage bond buyer after March 31st.   You may think...big deal!   Well, you would be right...it will be a BIG DEAL...

Job Report Friday 2/5
Updated Oct. 9, 2013
Its been a great morning for mortgage bonds with bad news on the unemployment front bonds seem to be the only thing that likes the news. Rates are great today...check out my rates if you are in the market. So tomorrow is the monthly non-farm payroll figures day. This one economic report is a huge market mover. Though I dont...

200-day Violated
Updated Oct. 9, 2013
The 200-Day moving average has been a great support level for mortgage bonds keeping rates low for the past few months, but today bonds fell below this key level of support on the news that costs to manufacturers (PPI) came in higher than expected. Tomorrow we will find out if manufacturers have been able to pass...

Consumer Confidence Down
Updated Oct. 9, 2013
westseattlemortgage.blogspot.com/2010/02/consumer-confidence-lower-than.htmlCheck out my blog today.  I tried to copy over to this site, but couldnt make it work.   Have a great day...rates are down a little today. .

battle of 200-day MA
Updated Oct. 9, 2013
Rates have fallen over the past month, but keep trying to rally back above the 200-day moving average. Its been a tough layer to break through and each time rates have been turned higher after making a run. Today rates made a run...traders are likely emboldened by the comments made by Ben Bernanke over the weekend....

Time running out!
Updated Oct. 9, 2013
Time is running out. March 30th is the end of the Feds Mortgage Bond Purchse plan. That means the Fed will not be buying 10 Billion dollars worth of mortgage bonds each week. The drop in demand could put pressure on mortgage bonds and cause rates to tick up a bit. April 30th is the last day to get into contract to qualify for...

Final Days
Updated Oct. 9, 2013
We are down to a few days before the Fed ends their mortgage bond purchase program that began back in December of 2008 that drove rates down from 6%$ to 4.5% for a 30 year fixed mortgage. Not only will the Fed not be purchasing the 10 Billion in mortgage bonds after this week, but there is a good chance they will start to...

Where are rates headed?
Updated Oct. 9, 2013
Well...the world didnt come to an end when the Fed stopped purchasing mortgage bonds in March. I guess we can all take a breath right? I wouldn't take too long a breath if you are still looking to lock in an interest rate below 5% as the Fed has been hinting that they will not be as generous with their monetary policy;...

Tisk Tisk Goldman
Updated Oct. 9, 2013
Well I am sure you were as shocked as I was today when I heard that Goldman Sachs was being charged with fraud with respect to their packaging and selling of Mortgage Backed Securities (bundled loans). I am sure glad that in the two years since the collapse of the sub-prime market someone was finally able to...

Some good news for a change
Updated Oct. 9, 2013
I thought I would bring a ray of sunshine to the current news headlines to show there are signs the housing market is improving...albeit slowly. Last weeks report shows housing starts for March rose to an annual rate of 626,000 which was higher than estimates and the highest its been since November 2008. Yeah!! The...

Jumbo coming back
Updated Oct. 9, 2013
Some good signs in the market that investors may be coming back to the table. More and more lenders are offering good loan terms to Jumbo loan customers. Jumbo loans are loan amounts that exceed the conforming loan limits and typically cover home loans up to 2 million dollars. For the past few years the Jumbo market...

Lock your rate
Updated Oct. 9, 2013
Ahhh.  Its Friday...I dont know about you, but I do love Fridays. I hope you have a wonderful weekend.  While you are sitting in your house or working in your yard this week and considering a new refinance or wonder if its time to lock in your rate on a house you may be buying....my advice is be on the phone...

Buyer Credit Ends
Updated Oct. 9, 2013
Welcome to the other side of the buyer credits. No more $8k for qualified first time buyers or $6500 for move up buyers. I would guess last week there were a lot of buyers very motivated to get into contract on a house to tap into this incentive. For those sellers and buyers who are still not under contract don't...

WOOOOOOOW!
Updated Oct. 9, 2013
And you think rides at Disneyland are crazy fun! The past two days of market action have more ups and downs than California Screamin'. Yesterday the DOW Industrials down almost 1000...which pushed mortgage bonds up and brought rates down to some of the lowest levels we have seen in the past six months. ...