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Before You Shop - Get pre-approved:

Take a look at your credit score. You'll want to make sure that your credit is in good standing. If there are any issues, take care of them. If you have a high credit score, you'll get a better finance rate, which could save you on your mortgage payments.

After you know your credit is in check, you can work with a mortgage broker/lender to get pre-approved. Getting pre-approved for a mortgage tells you how much you can afford and when it comes time to make an offer, the sellers will see that you can, in fact, afford the house and are ready to proceed.

A mortgage broker can be a big help in this process. Call us today at 866-476-2494 for an immediate, no obligation pre-approval.
 
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MBS Highway Market Wrap 1/18:

Thursday… Stocks have ended the day lower. The Dow closed down 97.84 at 26,017.81 and the S&P 500 closed down 4.53 at 2,798.03. Mortgage Bonds ended the session lower.

Why have Bonds been moving lower? One of the reasons Bonds have performed poorly is the decline in reinvestment purchases by the Fed. The Fed is currently buying 8 Billion less per month, which will soon be 12 Billion in April. When the Fed’s Quantitative Tightening Plan is in full effect, which will happen this October, the Fed will allow 20 Billion to roll off their balance sheet. Because the Fed is buying less, foreign investment in our Bonds is something we should keep an eye on. And even though our Yields are attractive and a lot higher in comparison to foreign Yields, foreign buyers have slowed their US Bond Purchases because of Dollar softness. Why? A foreign buyer would have to swap their Euro/Yen/Yuan for US Dollars to buy our Treasuries. And our currency has weakened quite a bit against the aforementioned currencies. So even if a foreign investor received 2% more in Yield by buying US Bonds than a domestic Bond, the gain is wiped out if you lose 10% in currency when you bring the money back home. This has contributed to the weakness in Mortgage Bonds.

In economic news, Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, showed that there were 220,000 Claims last week. This represented a drop of 41,000 from the previous report and was 30,000 lower than estimates of 250,000. Although this is a great number, there were seasonal adjustments and 7 states had to estimate their claims, which is unusual. This week was the “sample week” used in the BLS Jobs Report modeling and would point to a strong January Jobs Report, at least from this piece of the puzzle, on February 2nd.

On the housing front - Housing Starts for December were down 8.2% at a 1.192 Million unit pace, which was weaker than the 1.280M unit pace expected and the lowest reading since September. The cause of the drop was a 12% decline in Single-Family Starts, as Multi-Family remained stable.

Housing Permits, which are a good forward-looking indicator of future starts, were up slightly from last month’s originally reported figure, but after revisions, is pretty much unchanged at 1.302 Million units. Opposite of Starts, Single Family Permits rose 2% to the highest level since 2007.

Economic Data Initial Jobless Claims: Actual = 220,000; Consensus = 250,000; Prior = 261,000 Housing Starts: Actual = 1.192M; Consensus = 1.280M; Prior = 1.299M Housing Permits: Actual = 1.302M; Consensus = 1.300M; Prior = 1.303M

Upcoming Events There are no economic reports due for release tomorrow.

Technical Picture Mortgage Bonds are now trading in a wide range between support all the way down at 101.3125 and overhead resistance at 101.688. There is significant room to the downside, so we have to be careful. The 10-year Treasury Note Yield is nearing a critical level. Yields are currently trading at 2.624%. There is a very important ceiling and line in the sand at 2.635%. This level has been a very strong ceiling and has kept a lid on Yields the past 4 times it has been tested over the last 4 years. If Yields break above this 2.635%, we could see rates move another leg up and Yields test 3.04%.
 
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RIVERSIDE COUNTY: For any of you that have loan amounts or want a loan amount up to $679650 in Riverside county and want conforming pricing, PM me. We have a very interesting 30 year fixed product coming out VERY soon. This is for purchase AND refinancing. PM me for details about loan to value and credit score qualifications.
 
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Possible Government Shutdown and 10-year Ceiling January 19, 2018

Current position: Carefully Floating Stocks are higher and Mortgage Bonds are slightly lower so far this morning. It’s a very quiet economic news day, so the headlines and technical analysis will dictate market direction. And speaking of the headlines, they will likely be dominated by Government Shutdown news throughout the day. What causes a Government shutdown? When the House and Senate cannot agree upon a spending budget by the deadline. What actually happens during a shutdown? The Government is split into two categories, essential and non-essential operations. Essential operations include things like the military, FBI and social security. Non-essential includes things like national parks, museums, IPOs, drug approvals, etc. When there is a shutdown, the non-essential operations come to a halt. No two shutdowns are ever alike, as there are no exact guidelines and there is a lot of room for discretion for each department. Some last less than a day, while the longest lasted three weeks. Generally, the economy loses $1 Billion per day during a shutdown. Last night the House passed a temporary spending bill to kick the can down the road for another 30 days. The vote will go to the Senate today. We will update you with any breaking news regarding this in the Market News section of the website. Next week will be a housing centric week, with Existing Home Sales, New Home Sales, and the FHFA House Price Index due for release. Mortgage Bonds are still trading in a wide range between support all the way down at 101.3125 and overhead resistance at 101.688. There is significant room to the downside, so we must be careful. The 10-year Treasury Note Yield is trading just beneath a critical level 2.635%. As mentioned yesterday, this level has been a very strong ceiling and has kept a lid on Yields the past 4 times it has been tested over the last 4 years. If Yields break above this 2.635%, we could see rates move another leg up and Yields test 3.04%. Begin the day carefully floating, but if Yields break above 2.635%, you will likely be hearing from us.

MBS HIGHWAY
 
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MBS HIGHWAY 4:00 PM EST: Alert to Lock! Stocks are higher, Mortgage Bonds are at their worst levels of the day & below support at 101.3124. More importantly, The 10-yr Yield has broken convincingly above the 2.635%. ceiling we have identified and have been watching for the past week.
 
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MBS HIGHWAY - That's a wrap!

Market Wrap - 1/19/2018 Friday… Stocks have ended the day higher. The Dow closed up 53.91 at 26,071.72 and the S&P 500 closed at a record high, up 12.27 at 2,810.30. The NASDAQ and Russell also closed at all-time highs. Mortgage Bonds ended the day much lower and beneath support. Throughout the day the potential for a Government Shutdown dominated the headlines. What causes a Government shutdown? When the House and Senate cannot agree upon a spending budget by the deadline. What actually happens during a shutdown? The Government is split into two categories, essential and nonessential operations. Essential operations include things like the military, FBI and social security. Nonessential includes things like national parks, museums, IPOs, drug approvals, etc. When there is a shutdown, the non-essential operations come to a halt. No two shutdowns are ever alike, as there are no exact guidelines and there is a lot of room for discretion for each department. Some last less than a day, while the longest lasted three weeks. Generally, the economy loses $1 Billion per day during a shutdown. Last night the House passed a temporary spending bill to kick the can down the road for another 30 days. The vote is now in the Senate. There are doubts that it will be passed, but no confirmation yet. Economic Data There were no economic reports released today. Upcoming Events Next week is a housing centric week, with Existing Home Sales, New Home Sales, and the FHFA House Price Index due for release. Additionally, Durable Goods orders and GDP will be reported. Technical Picture Mortgage Bonds are have broken beneath support at 101.325. If this break is confirmed on Monday, the next floor is all the way down at 100.929. The 10-year Treasury Note Yield, which we have been watching very closely, has broken above 2.635% convincingly and is currently trading at 2.66%. Where does the bleeding stop? There is room for Yields to get worse until reaching the next ceiling at 3.04%. Position: Locking after technical levels were breached.
 
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MBS HIGHWAY Market Wrap 1/22/18

Market Wrap - 1/22/2018 Monday… The Dow, S&P 500 and NASDAQ have all ended the day at record closing highs. The Dow closed up 142.88 at 26,214.60 and the S&P 500 closed up 22.67 at 2,832.97. Mortgage Bonds ended the day near unchanged levels. The focal point of today’s trading session was the Government Shutdown. Around 12:00pm ET, the Senate reached a short-term compromise deal to fund the government, as they had the assurances they needed on immigration and budget issues. Stocks reacted favorably to this news, while Bonds moved off their highs to unchanged levels.

Economic Data There were no economic reports released today. Upcoming Events Tomorrow is another quiet economic news day, but the FHFA House Price Index and Existing Home Sales will be released on Wednesday.

Technical Picture Mortgage Bonds have closed beneath 101.3125, which is a negative technical signal, as this level will now act as a ceiling of resistance tomorrow. The 10-year Treasury Note Yield tested 2.635% during the day, but moved higher and is currently trading at 2.656%. It is a positive that it closed beneath the highs from Friday, which were at 2.661%. Once Yields break above 2.661%, the break higher will likely be confirmed.
 
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Rates:

Rates are on the rise campers. If you are procrastinating to get your financing done, it's time to jump off the fence. Don't take money out of your pockets or leave it on the table by waiting.

Wind-down Of Shutdown Helps Bulls To Further Records – The weekend government shutdown inspired little to no selling. Its major negative was to produce some hesitation rather than actual selling. While the financial media tried to build up the challenges of a shutdown, Wall Street veterans, like Nick Colas of DataTrek reassured the public that past shutdowns have been meaningless on financial asset values. He said it in a more elegant way but it was a variation of the old – "We've seen this movie before and nobody dies." As we moved toward noon and a possible Senate vote, the buying intensified. It kicked into higher gear when NBC projected the bill would pass. When it became evident that there was a substantial majority vote for passage, the rally climaxed and stocks moved sideways for the next few hours. They came on again in the final half hour, when the closing indications flipped from the sellside, where they had been for most of the afternoon, to $700 million to buy. That seemed to set off a closing flurry.

The New Year continues to amaze.

A Big Surprise In GDP? A Wise Man Says It's Possible – Joe Lavorgna over at Natixis, weaves an interesting tale about a possible surprise to the upside in GDP. Here's a bit of what he wrote: Retail control is a subsector of retail sales and is a direct input into the GDP accounts. This demand-side metric grew at an annualized 8.9% nominal rate last quarter. This was the biggest increase since Q3 2003 (10.5%). In inflation-adjusted terms, the gain was 5.2%, the largest increase since Q4 2014 (5.8%). At the same time, the index of aggregate hours, the product of the nonfarm workweek and private employment and supply-side metric, expanded at a 2.5% annualized pace last quarter. This was up from 0.8% in Q3 and represented the second strongest quarterly gain since Q4 2014. Combined, retail control and aggregate hours point to real GDP above 4%. But, history suggests that after natural disasters, rebuilding efforts typically add on average one full percentage point to real GDP growth. Hence, a number around 5% is possible, although it may not happen on the initial GDP print. It must be noted that there will be three revisions to the Q4 2017 GDP data following its initial release which is scheduled for Friday—one next month, another in March and then a third in July. However, the current government shutdown if extended another day or two is likely to delay the release of this Friday’s GDP report.

Finally, we caution investors that an economy that appears to finally be firing on all cylinders may bring a more aggressive Fed into play. This could bring about a wobble in risk assets which have benefited from excess liquidity. If the GDP does come in with a 5%, we can just imagine what the President will be talking about for the next few months.

Overnight And Overseas – In Asia, stocks rallied strongly across the board overnight. A partial influence was rather dovish sounding comments from Kuroda. Tokyo and Shanghai rallied the equivalent of 335 Dow points. Hong Kong was up an even better 435. India had a nice rally but not quite on that order. European markets are all seeing rallies but on a far more modest gauge. Frankfurt was the leader but up only about 85 Dow points.

Among other assets, gold is up a bit and continues to push against the upper band of the resistance that it has been battling. Crude is fractionally higher as traders await a possible jump in inventories after the close. The euro is flat against the dollar and yields are down a tick or two.

Consensus – Overnight futures strength fades as dawn reaches Manhattan. Form chart suggests a consolidation day is in order after multi-day run.
 
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DAILY WRAP:
Market Wrap - 1/24/2018 Wednesday… Stocks have ended the day mixed. The Dow closed up 41.31 at 26,252.12 and the S&P 500 closed down 1.59 at 2,837.54. Mortgage Bonds ended the session lower, but off their worst levels from this morning. The 5-year Treasury Note Auction was met with average demand. The bid to cover was 2.48, which was close to the one-year average 2.45. The High yield of 2.434 is the highest since April 2010. Earlier this morning the Mortgage Bankers Association’s released their Mortgage Application Data for the week ending 1/12/18. The report showed that overall application volume was up 4.5% from previous week. Purchases increased by 6.0% and are up 7.4% from this time last year. Refinances increased by 1.0% and are up 4.8% on a year over year basis. Interest rates were 9bp higher than they were a year ago. The Federal Housing Finance Agency (FHFA) House Price Index, which measures price appreciation on single-family homes with conforming loan amounts, rose 0.4% in November. The year over year appreciation rate came in at 6.5%, which is slightly below the October reading, which was revised higher from 6.6% to 6.8%. Existing Home Sales, which tracks closings on Existing Homes, were down 3.6% at a 5.57M unit annualized pace, which was slightly worse than the 1.5% drop expected. This was coming off the best number in 11 years, so a pullback was expected. Inventory remains tight – Housing Inventory dropped 10.3% on a year over year basis to 1.48 Million existing homes for sale. Inventory has dropped 31 consecutive months and the month supply is now 3.2%, which is the lowest on record. In fact, days on market was only 40, while 44% of the homes sold were sold in less than 30 days. Amazingly, sales were up 1.1% in 2017, even with inventory down 10.3%. This speaks to the demand – Sales would have been much higher if there were more homes for sale. With supply still tight, the median home price increased 5.8% from a year ago to $246,800 in December. This marked the 70th straight month of price gains. The First Time Home Buyer moved higher from 29% to 32%. Economic Data Mortgage Apps: Overall = up 4.5%; Purchases = 6%; Refinances = up 1% FHFA House Price Index: Actual = 6.5%; Prior = 6.8% Existing Home Sales: Actual = 5.57M; Consensus = 5.75M; Prior = 5.81M Upcoming Events Tomorrow morning Initial Jobless Claims and New Home Sales will be released. Technical Picture Mortgage Bonds have managed to close above 101.3125 after battling with it for most of the day. The 10- year Treasury Note Yield ended the day at 2.648%, which is back up above 2.635%. Yields did test the highs from Tuesday, at 2.665%, but then moved lower. If they break above the aforementioned level they could break higher towards 3.04%
 
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Daily Wrap:
Market Wrap - 1/25/2018 Thursday… The Dow and S&P 500 have ended the day at record highs. The Dow closed up 140.67 at 26,392.79 and the S&P 500 closed up 1.71 at 2,839.25. Mortgage Bonds ended the session higher. Mortgage Bonds moved higher during the day in response to President Trumps comments on the US Dollar. Trump said that the Dollar will get stronger and stronger and that Treasury Secretary Mnuchin was misinterpreted earlier this morning. In economic news, Initial Jobless Claims, which measures individuals filing for unemployment benefits for the first time, showed that there were 233,000 Claims last week. This represented an increase of 17,000 from the previous report, but was 7,000 better than estimates of 240,000. More importantly, last week’s report was revised lower from 220,000 to 216,000…And last week’s report included the “sample week” used in the BLS Jobs Report modeling. This would point to a strong January Jobs Report, at least from this piece of the puzzle, released on February 2nd. New Home Sales, which measures signed contracts on new homes, were down 9.3% in December, at an annual rate of 625,000. The market was expecting a 7.2% drop. Last month’s figure, which was the best number in 10 years, was revised lower from 733,000 to 689,000…but it’s still the best number in 10 years. While this report is definitely a miss, putting things in perspective, sales are still 14.1% higher on a year over year basis. There were 295,000 new homes for sale at the end of December. With the slower pace of sales, months supply did move higher from 4.9 to 5.7 months. The median home price rose to a record high at $335,400, while the average sales price was $398,900. Economic Data Initial Jobless Claims: Actual = 233,000; Consensus = 240,000; Prior = 216,000 New Home Sales: Actual = 625,000; Consensus = 680,000; Prior = 689,000 Upcoming Events GDP and Durable Goods Orders will be released tomorrow morning at 8:30am ET. Technical Picture It was a volatile day for Mortgage Bonds, but they did end up closing above 101.3125 and now in the middle of the range between the aforementioned level, which will act as support, and overhead resistance at 101.868. The 10-year Treasury Note Yield tested 2.665%, but then moved lower after Trumps comments and closed beneath 2.635% at 2.623%. Bonds have been vacillating and could certainly open up lower tomorrow, but we can carefully float after today’s gains and hope these technical gains hold.
 
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This week's a wrap!
Market Wrap - 1/26/2018 Friday… Stocks have ended the day higher, closing at record highs. The Dow closed up 223.92 at 16,616.71 and the S&P closed up 33.62 at 2,872.87. Mortgage Bonds ended the day much lower and beneath support. Yesterday, we saw a lot of volatility in the markets following Treasury Secretary, Steve Mnuchin’s comments. He was somewhat misinterpreted by the press and was thought to have said that it was ok for the US to have a weaker dollar. The Bond Market didn’t like these comments, but after President Trump said that Mnuchin was misinterpreted and that a strong Dollar is in our best interest, the Bond market rallied. Why is a weaker Dollar such an Issue? Our Yields here in the US are higher than around the globe and enticing for foreign investors. For example, in Germany, the 10-Year Bund, which is very like our 10-Year Treasury, is yielding 60bps and in the US the 10-Year is about 260bps. So it seems like a good investment. As investment dollars come in you would have to trade Euros to US Dollars and purchase Treasuries to get a higher yield. The problem is the Dollar has been getting weaker and weaker vs. the Euro and even if you gain 2% on the Yield, if you lost 10% on the currency exchange, you would net a significant loss. Because of this, foreign investors have been net sellers of late and this is one of the reasons Bonds have been struggling. Today the First look at 4th quarter (Q4) Gross Domestic Product (GDP) was reported and it showed that the US economy grew by 2.6%, which was slightly below expectations of 2.9% and a drop from the previous reading of 3.2%. Within the report, Personal Spending was up by 3.8% and residential construction was up 11.6%, while trade and inventories were lower. Durable Goods Orders, which measures the new orders placed with domestic manufacturers of factory hard goods, were up 2.9% in December, which was better than the 0.6% gain expected. When stripping out transportation, orders were up by 0.6%, which was in-line with expectations. Core Orders, which strips out transportation and defense, were down 0.3%, which was weaker than estimates looking for a gain of 0.5%. Economic Data 1st look at Q4 GDP: Actual = 2.6%; Consensus = 2.9%; Prior = 2.3% Durable Goods: Actual = 2.9%; Consensus = 0.6%; Prior = 1.7% Core Capital Goods: Actual = -0.3%; Consensus = 0.5%; Prior = -0.1% Upcoming Events Next week is action-packed. We will get a read on inflation data via the Fed’s favorite measure, the Personal Consumption Expenditure (PCE) report, along with a Fed Meeting, the Case Shiller Home Price Index, Pending Home Sales and the important ADP and BLS Jobs reports. Technical Picture Mortgage Bonds closed below support at 101.3125. The 10-Year is currently just below resistance at 2.635 but above the important 2.635 level. We can continue our locking stance. Position Locking
 
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Market Wrap - 1/29/2018 Monday… Stocks have ended the day sharply lower. The Dow closed down 177.23 at 26,439.48 and the S&P 500 closed down 19.34 at 2,853,53. Mortgage Bonds ended the session lower, but off their worst levels and above support at 100.929. In economic news, Personal Income and Spending were both up 0.4%. Private sector wages were up 0.5% month over month and 5.2% year over year, which is the highest level in quite some time. Within the report, the Fed’s favored measure of inflation, Personal Consumption Expenditures (PCE), was released for December. Headline PCE moved lower from 1.8% to 1.7%, while the Core rate, which strips out food and energy prices and is the focus of the Fed, remained stable at 1.5%. The Headline figure was in line with expectations, but the Core rate was slightly softer than the consensus. Bonds improved somewhat after the cooler inflation data, but are still much lower from Friday. Economic Data Personal Income: Actual = 0.4%; Consensus = 0.3%; Prior = 0.4% Consumer Spending: Actual = 0.4%; Consensus = 0.5%; Prior = 0.8% Personal Consumption Expenditures (PCE): Actual = 1.7%; Prior = 1.8% Core Personal Consumption Expenditures (Core PCE): Actual = 1.5%; Prior = 1.5% Upcoming Events It’s a busy news week, highlighted by Housing Data, Jobs Data, and the Fed Meeting. The Fed meeting will begin tomorrow, with their Statement and rate hike decision on Wednesday. The Fed is not expected to hike rates on Wednesday, but they are expected to hike at the March meeting, which is also new Fed Chair Jerome Powell’s first press conference. The market is expecting 195,000 job creations in Wednesday’s ADP Employment Report and 180,000 in Friday’s BLS Jobs Report. Technical Picture Mortgage Bonds have ended the day above support at 100.929. There is room for Bonds to improve until reaching the next ceiling at 100.203. The 10-year Treasury Note Yield is trading in the middle of a wide range between support at 2.635% and overhead resistance at 2.815%. Although Bonds have recouped some of their earlier losses, they still ended the day much lower. Our feeling is that Yields will eventually test 2.815% and then 3.04%. For that reason, we are recommending a Locking Bias. Position Locking Bias
 
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Tuesday Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
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Wednesday Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
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WEDNESDAY AFTERNOON UPDATE:
This week’s FOMC meeting has adjourned with no change to key short-term interest rates, as was expected. The post-meeting statement didn’t reveal any major surprises, but the language used differed a little from the previous adjournment when addressing expected inflation benchmarks. The change indicates that the Fed feels the 2.0% annual rate of inflation is more likely to be reached than it was last meeting.

There was nothing in this statement that should bring too much concern nor get too excited about. The stock markets are down slightly from their pre-adjournment levels but they had lost ground from morning levels long before 2:00 PM ET. The Dow is currently up 116 points while the Nasdaq is currently up 20 points. The bond market is now down 8/32 (2.75%), which should be enough of a move for some lenders to revise mortgage rates higher by approximately .125 of a discount point from this morning.

January’s ADP Employment report was released at 8:15 AM ET this morning, revealing an increase of 234,000 private sector jobs. This was stronger than expected, indicating employment sector strength that makes the data negative for bonds and mortgage rates. We will get January’s complete employment picture in Friday’s governmental Employment report.

The 4th Quarter Employment Cost Index (ECI) was posted at 8:30 AM ET this morning. It showed a 0.6% increase, matching forecasts. This index measures employer costs for employee wages and benefits, giving us an indication of the threat of wage inflation. Ideally, the bond market would prefer to see a smaller rise, but the fact there was no surprise in the reading made it a non-factor in today’s bond trading and mortgage pricing.

Tomorrow morning has two minor pieces of economic data scheduled for release along with a major report. The first is last week's unemployment update at 8:30 AM ET that is expected to show 238,000 new claims for unemployment benefits were filed last week, up from the previous week's 233,000 initial claims. This report usually doesn't cause much movement in the markets or mortgage rates unless it shows a significant jump or drop in initial claims for benefits. The higher the number of claims, the better the news it is for bonds and mortgage rates because rising claims is a sign of a softening employment sector.

Employee Productivity and Costs data for the 4th quarter will also be released early tomorrow morning. It can cause some movement in the bond market, but should have a minimal impact on mortgage pricing tomorrow. Good news would be the productivity reading showing a much stronger increase than the 1.0% that is forecasted. That is because higher levels of worker productivity allow the economy to expand while keeping inflation subdued.

The big news of the day will be the Institute of Supply Management's (ISM) manufacturing index for January at 10:00 AM ET. This index tracks manufacturer sentiment by rating surveyed trade executives' opinions of business conditions. It is usually the first economic data released each month and is one of the very important reports we get monthly. Current forecasts are calling for a reading in the neighborhood of 58.5, which would be a decline from December's reading of 59.7. The lower the reading, the better the news for the bond market and mortgage rates because weaker sentiment indicates a slowing manufacturing sector.

If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now...

Scott Wenhe
Phone: 619-255-3182
email: [email protected]
 
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Thursdays Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
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Friday Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Monday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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With the stocks taking a beating, we may see a flight to bond safety which should be good for mortgage rates.

Tuesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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We saw an initial flight to safety but the market quickly shifted and bonds and mortgage rates are taking a bit of a beating. Most lenders have repriced rate sheets 3 times this morning to post higher points per rate.

Wednesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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A few lenders are starting to post better rates this morning -

Thursday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Monday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Tuesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Wednesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you. To fill out a rate quote request, go to www.WMRLoans.com.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Thursday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. For our low down payment purchase clients, we have a 1% down/2% lender down payment contribution program. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you.

To fill out a rate quote request, go to www.WMRLoans.com and click "apply now" in the dark blue border at the top of the webpage.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Friday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. For our low down payment purchase clients, we have a 1% down/2% lender down payment contribution program. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you.

To fill out a rate quote request, go to www.WMRLoans.com and click "apply now" in the dark blue border at the top of the webpage.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

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Tuesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. For our low down payment purchase clients, we have a 1% down/2% lender down payment contribution program in addition to our other first time homebuyer programs. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you.

To fill out a rate quote request, go to www.WMRLoans.com and click "apply now" in the dark blue border at the top of the webpage.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
Tamalewagon

Tamalewagon

Little Buddy
Joined
Sep 24, 2007
Messages
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Wednesday's Rate Lock Advisory: http://mortgagecommentary.com/commentary.cfm?id=48220140321

We offer some of the lowest rates and fastest turn times in CA. Shop our services against any lender. We offer conventional, VA, FHA and commercial investment property loans. For our low down payment purchase clients, we have a 1% down/2% lender down payment contribution program in addition to our other first time homebuyer programs. Considering the volatile market conditions and rising rates, please call us for a review of your mortgage today. As a mortgage broker, we have access to 100's of lenders and loan programs. We will find the lowest rates and right solution for you.

To fill out a rate quote request, go to www.WMRLoans.com and click "apply now" in the dark blue border at the top of the webpage.

Scott Wenhe
NMLS 336862
BRE 1768632
866-476-2494
[email protected]
www.WMRLoans.com
 
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