Wish that I would have bet some money on that prediction! We have seen rates come down .25% since last week when I posted my last BLOG. The GDP figures released today were flat and unemployment numbers were higher than expected, giving more strength to the bond market - remember - bad news usually will provide strength in the bond market and lower rates.
A lot of info being released tomorrow, so we could see another very volatile day - hopefully a big reduction. For those of you still floating - all we need is a small window to get those rates locked.
By the way - here is a link to the article this morning:
http://www.msnbc.msn.com/id/23387861/
Thursday, February 28, 2008
Friday, February 22, 2008
Not Since The Great Depression...
That is what I woke up to this morning!! The headline on the radio says, "Not since the Great Depression have so many homeowners had negative equity in their homes."
That's just great - thank you NPR for making us so very aware of that kind of garbage and using sensationalism in your reporting to exacerbate more doom and gloom.
That kind of stuff just frys me!!!
Anyways, as I have always done, I will try to bring you FACTUAL information so that you can make informed decisions without the garbage used by the media to increase circulation or ratings.
Rates have gone up to the mid 6 range after almost 5 weeks at or under 6. The sudden run up this week was caused due to further speculation that inflation is present in our economy and that a loose monetary policy by the feds will fuel even more future inflation.
As of yesterday, we did see some relief and I would expect to see rates stay at the low end of the 6 range next week.
That's just great - thank you NPR for making us so very aware of that kind of garbage and using sensationalism in your reporting to exacerbate more doom and gloom.
That kind of stuff just frys me!!!
Anyways, as I have always done, I will try to bring you FACTUAL information so that you can make informed decisions without the garbage used by the media to increase circulation or ratings.
Rates have gone up to the mid 6 range after almost 5 weeks at or under 6. The sudden run up this week was caused due to further speculation that inflation is present in our economy and that a loose monetary policy by the feds will fuel even more future inflation.
As of yesterday, we did see some relief and I would expect to see rates stay at the low end of the 6 range next week.
Monday, February 11, 2008
A 10 Year Old's Birthday & Lower Rates?
Well, after telling you last Thursday that everything was quiet as a church mouse, the treasury auction that took place later in the day had a terrible outcome for the bond market. Foreign investors showed their displeasure with anticipated returns by our US bonds and drove prices down, resulting in higher rates. As of today, most of our mortgage programs are up 1/8% across the board.
But this Wednesday is a special day! My daughter turns 10. While her and Mom are planning on doing some shopping after school, I will be diligently watching the RETAIL SALES report that will be coming out. If retail sales shows weakness we could see rates fall.
I will be sure to let you know. By the way, the broadcast voicemail will also be tested this week.
-Jon
But this Wednesday is a special day! My daughter turns 10. While her and Mom are planning on doing some shopping after school, I will be diligently watching the RETAIL SALES report that will be coming out. If retail sales shows weakness we could see rates fall.
I will be sure to let you know. By the way, the broadcast voicemail will also be tested this week.
-Jon
Thursday, February 7, 2008
Quiet As A Church Mouse
After the past 2 weeks volatility, things have been extremely quiet in the bond market with rates remaining relatively flat.
The only piece of economic news out this week that could have a significant impact is UofM's Consumer Sentiment Index.
By the way BOOO to U of M - my son was just accepted to Michigan State University yesterday!! (Sorry, but I figure if I'm going to be sending them checks for the next 4 years I have to take a stance :-) )
- Jon
The only piece of economic news out this week that could have a significant impact is UofM's Consumer Sentiment Index.
By the way BOOO to U of M - my son was just accepted to Michigan State University yesterday!! (Sorry, but I figure if I'm going to be sending them checks for the next 4 years I have to take a stance :-) )
- Jon
Monday, February 4, 2008
The rates remained flat this morning. The comments below sum things up pretty well.
This post is provided by The Bond Rate Monitor
After a volatile week, bonds and rates ended amazingly almost where they started. The highlight of the week was the Fed lowering the Fed Funds Rate another 50 bps, just eight days after their emergency meeting. This week, unlike last takes a much needed rest with respect to the economic calendar.
This post is provided by The Bond Rate Monitor
After a volatile week, bonds and rates ended amazingly almost where they started. The highlight of the week was the Fed lowering the Fed Funds Rate another 50 bps, just eight days after their emergency meeting. This week, unlike last takes a much needed rest with respect to the economic calendar.
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