Rich Atkinson AMC - Alameda Mortgage Corp, Since 1968 Office: 650-400-6091 Email: rich@amcbankers website: richatkinson NMLS#: 349607 Rate Recap Mortgage Rates Currently Trending: LOWER Last week saw rates improve an average of .125 to .250%, because the MBS (Mortgage Backed Securities) market recovered more than half of the selloff that we experienced on Friday, November 8th. Many lenders will find rates and rebate pricing close to what we last saw on Thursday, November 14th, before the MBS selloff. Especially well received last week was the speech by Janet Yellen in her confirmation hearing, which led traders to feel more secure that Fed tapering of bond purchases would be held off until at least 2014. For the week we gained 70 basis points, but those numbers are skewed by Tuesdays bond rollover. This Weeks Mortgage Rate Forecast Mortgage Rates Forecast: Starting the week NEUTRAL to LOWER, but ending HIGHER This week is difficult to forecast, as MBS seem to be riding to the top of the trading channel we find ourselves in. There may be a small amount of rate improvement left on the table, maybe another .125% or simply improved rebate pricing (the credit your lender gives you towards your closing costs), but economic data on Wednesday and Thursday could see an MBS sell off resulting in rates worsening. BOTTOM LINE: You should talk to your Mortgage Loan Professional this week to weigh the possible benefits of floating your interest rate or locking in, based on your unique scenario. If we break above the 102.00 resistance level we will see improved mortgage rates. However if we fail to reach it, or bounce off of it, we will see mortgage rates inch up for the worse again. Which way we go will depend greatly on Wednesday and Thursday economic data, so be ready to work with your Mortgage Loan Professional to react. RateAlert’s Most Trusted Mortgage Lending Professionals: Loan Professions that subscribe to RateAlert Executive services have the training and market knowledge at their fingertips, along with live trading data during market hours to expertly help navigate the difficult and often times confusing process of understanding rate movements and which factors may cause volatility when considering whether or not to lock. If you’d like to learn more about what things to consider when timing the market in an effort to obtain the best interest rates, don’t hesitate to contact the person who sent you this commentary. This commentary has been sent to you by the Mortgage Loan Originator (MLO) above because they thought you may find it interesting or helpful. The views and opinions offered do not necessarily represent the views of your MLO. Please contact them with any questions or to find out more about the information listed herein and how to work with them California DRE Broker #01041623 California NMLS #349607 To unsubscribe from TBWS Rate Alert e-mails, please click here. Please do not reply directly to this e-mail. TBWS Rate Alert will not receive any reply message. For questions or comments, visit our Forums or Contact Support via SupportTeam@ratealert.
Posted on: Mon, 18 Nov 2013 16:41:47 +0000
Trending Topics
Recently Viewed Topics
© 2015