Mass. Mortgage Rate Commentary week of Oct 18

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

This week brings us the release of five economic reports for the markets to digest. Only one of these reports is considered to be highly important to mortgage rates, but this by no means leads me to believe we will have an uneventful week. This will be an extremely busy week for corporate earnings, which usually translates into stock volatility. The lack of important economic data on this week’s calendar makes it more likely that any significant swings in stock prices will influence bond trading and mortgage rates.

There is nothing of importance scheduled to be posted tomorrow morning. We will get a couple of important earnings releases including Texas Instruments and Apple, Inc, but they are being announced after the markets close tomorrow. This means that any reaction in the markets won’t come until Tuesday’s trading. I am thinking…

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©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

MA Mortgage Rate Commentary 10/16

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened in positive territory following a weak open in stocks. The stock markets are in selling mode during early trading with the Dow down 110 points and the Nasdaq down 28 points. Weaker than expected earnings reports from a couple of major names is the main reason for the early selling in stocks. The bond market is currently up 9/32, but we will likely still see an increase in this morning’s mortgage rates of approximately .250 of a discount point due to weakness late yesterday.

There were two reports released this morning, but neither can be considered highly important to the markets or mortgage rates. September’s Industrial Production data was the first, revealing a…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Massachusetts Mortgage Rate Commentary 10.15

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Thursday’s bond market initially opened well in negative territory but has since rebounded after stocks opened in negative ground. The Dow is currently down 28 points while the Nasdaq has fallen 12 points. While those may be minor losses, the concern is the fact that the Dow has slipped below the 10,000 benchmark that we heard so much about yesterday. Investors’ concerns that stocks may not be able to hold recent gains has helped boost bond prices during early morning trading. The result is the bond market currently up 3/32, but I am expecting to see an increase in this morning’s mortgage rates of approximately .375 of a discount point compared to yesterday’s morning rates.

The Labor Department reported this morning that September’s Consumer Price Index (CPI) rose 0.2% and that…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Massachusetts Mortgage Rate Commentary 10/14/09

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Wednesday’s bond market has opened in negative after this morning’s economic data showed stronger than expected readings. The stock markets are in positive ground with the Dow up 98 points and the Nasdaq up 20 points. The bond market is currently down 6/32, but I am expecting to see a slight improvement in this morning’s mortgage pricing due to strength in bonds late yesterday.

The Commerce Department posted September’s Retail Sales figures early this morning, announcing a 1.5% decline in sales from August’s level. This was a smaller than expected drop, indicating that consumers spent more than many had thought. Even if more volatile auto-transactions are excluded, sales exceeded expectations. This is bad news for bonds and mortgage rates because…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

MA mortgage Rate Commentary 10.13.2009

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Tuesday’s bond market has opened well in positive territory following last week’s sell-off. The stock markets are helping bonds by showing early losses with the Dow down 38 points and the Nasdaq down 6 points. The bond market is currently up 21/32, but we likely will see little change in this morning’s mortgage rates due to weakness late Friday.

There is no relevant economic news scheduled for release today. The bond market was closed yesterday in observance of the Columbus Day holiday, so today’s trading picks up from Friday’s levels. Last week closed on a significant sell-off so this morning’s gains in bonds could be investors finalizing positions. Some traders feel last…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Mass Mortgage Rate Commentary the week ahead

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened down sharply as yesterday’s afternoon selling continues into this morning. The stock markets are showing gains with the Dow up 43 points and the Nasdaq up 11 points. The bond market is currently down 30/32, which with yesterday’s afternoon weakness will likely push this morning’s mortgage rates higher by approximately .500 - .625 of a discount point over yesterday’s morning rates.

Today’s only economic data was August’s Goods and Services Trade Balance report. It revealed a $30.7 billion trade deficit, exceeding forecasts. However, this news is relatively inconsequential to the markets and has had little impact on today’s trading or…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Massachusetts Mortgage Rate Commentary 10.9.2009

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened down sharply as yesterday’s afternoon selling continues into this morning. The stock markets are showing gains with the Dow up 43 points and the Nasdaq up 11 points. The bond market is currently down 30/32, which with yesterday’s afternoon weakness will likely push this morning’s mortgage rates higher by approximately .500 - .625 of a discount point over yesterday’s morning rates.

Today’s only economic data was August’s Goods and Services Trade Balance report. It revealed a…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com