And we're up eight on the day which has led to some lender reprices for the better. We're looking at the best rate sheets for the week right now. Let's hope this rally continues and we finish on a strong note.
If we do, careful attention will have to be paid over the weekend and on Monday's open.
Friday, January 28, 2011
Egypt Riots...
Contrary to what some might expect the unrest in Egypt is helping our markets today as investors look for security. Consequently we are up on the day five ticks which will lead to better rate sheets and pricing.
Difficult to call this a trend, we are definitely trading in range right now although it is important for us to develop a recent history in which the 4.5 note remains above the 102.00 price point. Today will be day two if we don't experience a sell off (currently trading at 102.08).
Difficult to call this a trend, we are definitely trading in range right now although it is important for us to develop a recent history in which the 4.5 note remains above the 102.00 price point. Today will be day two if we don't experience a sell off (currently trading at 102.08).
Thursday, January 27, 2011
A Promising Day
After a tough day in the market yesterday where we lost 14 ticks on the 4.5 note, we are up 5 ticks currently, which is not so bad. As things stand we are currently trading with a new range. For those of you that waited until the New Year in hopes rates would come down slightly, our new range is trading above the slide at the end of 2010.
With that said rates do appear to be trickling up slowly but surely. This trend could buck but not likely given the climate. Now would be a good time to think about moving forward if you have been sitting on the fence. Rates are still low, and a well timed market can produce nice surprises (long as your working with an ethical broker) if you hold out and float into a well priced day.
And don't forget the benefit of shorter lock periods.
These are tricks we have discussed in the past, but things worth remembering moving forward.
With that said rates do appear to be trickling up slowly but surely. This trend could buck but not likely given the climate. Now would be a good time to think about moving forward if you have been sitting on the fence. Rates are still low, and a well timed market can produce nice surprises (long as your working with an ethical broker) if you hold out and float into a well priced day.
And don't forget the benefit of shorter lock periods.
These are tricks we have discussed in the past, but things worth remembering moving forward.
Wednesday, January 26, 2011
Rates Slide Down
Day after the State of the Union we are seeing mortgage rates climb higher as our market sells off. Currently down 11 ticks on day we can expect reprices for the worse this afternoon. FOMC will be reporting this afternoon. There is a slight chance they bring our market out of the gutter today, but I wouldn't count on it.
By in large the trend is rising interest rates... timing is everything in this market, take care in when you lock.
By in large the trend is rising interest rates... timing is everything in this market, take care in when you lock.
Subscribe to:
Posts (Atom)
Posts
