Mortgage Market Update/Purchase and Refinance Mortgage info

[Tamalewagon]

The Federal Reserve has recently lowered their current rate by .5%, impacting various financial sectors. What does that mean for mortgage rates? This decision is expected to have an immediate positive effect on HELOC rates, credit cards and car loans. There should be a strong potential for easing on first mortgage rates. Look for rate improvements on your purchase or refinance loans in the days to come.

 

[Tamalewagon]

A Fed rate cut did not improve first mortgage rates yesterday. The mortgage rates actually deteriorated in the afternoon. The MBS and 10 year are both sitting in positive territory currently which will hopefully help the mortgage rates later this morning. HELOCs, car loans and credit card interest rates will all benefit directly from yesterdays FED move.

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Here is a great explanation by Barry Habib about how/if (but not really) the FED rate cuts impact mortgage rates Click HERE

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Decent morning as far as the MBS market is concerned which improved pricing slightly.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Monday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Tuesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day Campers.

The market opened in positive territory this morning which is good news for mortgage rates.

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

All mortgage gurus are suggesting to lock your rates now.

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Friday Campers!

The MBS market is doing well today. We should see a slight rate improvement today.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

The MBS market is faltering after Fed Chariman Powell's comments today in Nashville and the mortgage rates are deteriorating. Sadly this guy has always been a day late and dollar short on action and his comments today were no help to us.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Monday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Post Season Tuesday! Go Pads!

The bond market opened in positive territory which is good news for rates this morning. Yesterdays rate deterioration was due to Fed chairman Powell's remarks that he will consider two additional rate cuts this year. As you all can now see first hand that the Fed rate cuts do not lead to automatic mortgage rate cuts. Mortgage rates are directly impacted by the MBS and bond markets which both reacted negatively to the Feds remarks. Using the Fed as a benchmark is ill-advised.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Tuesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day Campers! It's parents weekend at ASU so I may not be able to post Friday's update.

That stated, the bond market opened in negative territory this morning following stronger economic news than was anticipated. If the damage is controlled, the impact on the mortgage rates should be minimal. However, look to Friday's employment reports. If we keep seeing strength in the employment sector, this will have a negative impact on rates. My advice is to lock now if you are closing in the next 30 days.

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Most markets have opened flat or in the negative ahead of tomorrow's key data. There was strength in the market late yesterday so hopefully that will mitigate this mornings negative effects to minor losses or rate deterioration.

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Friday Campers. As previously mentioned, the jobs report today negatively impacted mortgage rates. I'm guessing it will be corrected later (the numbers are usually grossly over inflated) as most employment reports are bogus but for now, over 110K additional jobs were reported to have been created over the expected 140K.

If you locked yesterday, you are thanking yourself and your mortgage broker today. If you waited, you will need to continue to float until the market improves again. Get your applications in and ready so you are ready to lock when the next dip in the mortgage rates happens.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Friday's employment data is casting a shadow on the mortgage rates. The bond market and stock market are both well into negative territory this morning. Hopefully the inflation data due later this week will reverse the jobs reports negative effects.

See the details in Monday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

The bond market is in negative territory again. Hoping for good news in Thursday inflation report to reverse course. Stay tuned!

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Tuesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day Campers.

The market opened in negative territory again this morning. Hopefully tomorrow's major inflation reports show weaker readings that indicate inflation is easing. That will improve rates.

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Thursday’s bond market has opened in negative territory after this morning’s inflation data gave us bad news. Fortunately, this morning’s second release did give us favorable results that were enough of a surprise to prevent a sizable sell-off in bonds which should prevent a large spike in mortgage rates.

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Yesterday's bond auction was strong and gave strength to mortgage rates late yesterday but this morning's inflation news pushed off any solid rate improvements this morning.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Rates have improved!

 

[Tamalewagon]

Good Morning campers and Happy Monday.

No news to report this morning as most lenders are closed today. However, please remember to get your applications in for your refinances. We hope the election goes our way but if not, expect inflation to rise again with the continuation of unharnessed government spending.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Tuesday's bond market opened in positive territory thankfully! We should see some rate improvements this morning which is great news right before the election! I would still not leave anything to chance. If you are looking to refinance, get it while the going is good.

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the details in Tuesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day Campers.

The bond market opened in positive territory this morning despite no driving factors. We should not see much movement today on rates. Tomorrow may be a different story...

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

New product to mention. We can now do Fannie cash out product to 90% loan to value with NO mortgage insurance (MI)!

 

[Tamalewagon]

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Friday Campers!

The bond market is doing well this morning erasing losses from yesterday. We should see a slight rate improvement today. The election is getting close...get your applications in!

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Good Monday morning Campers!

Stocks are mixed and Mortgage Bonds are unfortunately sharply lower to start the week. The 10-year has moved much higher in the first three weeks of October, but that's not an unusual occurrence. For reasons that are unclear, there has been a pattern of higher yields in the first few weeks of the month the past few years according to Barry Habib. This is a quiet week but next week could yield good news for mortgage rates if we get favorable data.

See the details in Monday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Tuesday's bond market opened in positive territory as bonds are trying to hold the line. This should erase a (very) little bit of yesterday's losses. However, more economic data shows the bond sell off may not be over just yet.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

update...lock now if you are closing in the next 30 days. The MBS market is breaking as I type this. (if you aren't locking with me in CA, you are leaving money on the table.)

 

[Tamalewagon]

Happy Hump Day Campers.

After a very rocky start to the day, rates are improving.

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

So far today, we've seen a bit of an improvement in rates. The next few weeks are sure to be volatile ahead of the election...

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Friday campers!

For those of you trying to understand the market like me...get ready for a headache. Today's bond market opened in positive territory despite negative economic news unlike the rest of this week where we mostly opened in negative territory despite positive economic news. Oy vey! Historically, we have seen this trend in October for several years.

We should see a slight improvement from yesterday's rates this morning.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Alert to lock...MBS is crumbling.

 

[Tamalewagon]

We have a big week of important reports due out this week that has the potential to greatly influence future mortgage rates. Inflation, jobs and housing data reports are all due out this week. Hang on to your hats and hope for favorable results that bring mortgage rates down.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Consumer employment and financial confidence readings today are bad news for mortgage rates. Also the preliminary GDP reading is due out today, which if weaker than anticipated will drive a spur into the bond market and rates will fall. Hopefully today's employment report is favorable and will also help mortgage rates this afternoon.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Seems we had some favorable results today...rates are improving.

 

[Tamalewagon]

Wow! Talk about your rollercoaster Wednesdays! The MBS market started the day in great shape, took a nose dive and is currently trying to recover. Pray for positive results at the polls next week.

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Ouch.

See the details in Thursday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

This morning brought us a very week jobs report which 99.9% of the time would be favorable for mortgage rates. The market completely misread the findings and the MBS market is showing the negative results.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Wow! Talk about your "About-face's"! We've had a sharp reversal from the MBS freefall from last week. The MBS market is up erasing last Friday's sell off. Make no mistake though, this is going to be a volatile week with the election and the FED meeting this Wednesday. Wednesday's FED meeting is anticipating a minimum .25% reduction. Again, that does not directly translate to lower mortgage rates as we saw with the last .5% FED rate reduction which led to higher mortgage rates. Let's just hope for positive election results, lower inflation and overall costs.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Welcome to Turbulent Tuesday! Get out there and vote Campers!

The MBS market opened in negative territory this morning to no ones surprise but has come racing back to positive territory. Rates have since reversed course and improved. It's going to be a volatile day in the markets.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Well then! Happy Hump Day Campers!!!

The stock markets are up HUGE but this comes at the cost of the bond market which is current down. There are a few reports of significance this week that could impact mortgage rates this week so stay tuned.

The FED is also still expected to reduce their short term rates another .25% tomorrow. The impact of that cut is unclear at this time.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Rates are gaining ground big time this morning! The MBS market has done a serious about face and is well into positive territory which is great news for mortgage rates!

We can tailor a loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

See the details in Thursday's Rate Lock Advisory...click HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Friday campers!

The MBS market continues to march in the right direction for lower rates. I hope we can break the 5.5% ceiling so we can get back in the mid 5% range soon on the 30 year fixed rates.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Good Morning campers...

Tuesday's bond market opened well in the negative territory this morning. This is pushing rates higher even though there is really nothing to drive it except future concerns over Trump's cabinet choices which is fueling concerns about future inflationary pressure.

Tomorrow will be very interesting as the future direction of mortgage bonds will likely be determined by tomorrow's CPI inflation report.

Stay tuned!

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day campers!

Today's big news was the October CPI (inflation) report. The good news is that it only rose slightly which should not send rate's much higher. The overall current stance is to float your rate instead of locking at this time. The Fed Chairman (Powell - Mr. Day late and dollar short) is speaking about the unemployment figures so we'll see how the market reacts. We are hoping for a little relief.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Wow again! Despite unfavorable economic news, the bond and MBS markets are both sitting in positive territory so far this morning. As we have seen yet again following a reduction in the FED's short term rate, mortgage rates have climbed. For those of you waiting for more savings, I would suggest taking advantage of the savings available at present and get some relief on your payment and overall payments if you have debts to consolidate. Plus you get to skip a payment in time for the holidays.

See the details in Thursday's Rate Lock Advisory...click HERE

Give me a shout today for a quote on your specific scenario for the lowest rates available. We can tailor a loan for your specific needs...Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

If you need a RPD reference, check this thread -

The Mortgage Market Update Guy

The thread title is exactly what I said to myself about a month ago when I was trying to figure out who to go to for a refi on our house, "hey what about the mortgage update guy from RDP?" Fast forward to now, we're a few weeks closed, Scott put in a ton of leg work and made a game time call...

www.riverdavesplace.com

 

[Tamalewagon]

Happy Friday campers!

Rates are pretty good this morning.

See the details in Friday's Rate Lock Advisory...click HERE

Looking for debt consolidation, home improvement, investment or purchase mortgage options in California? Check out our wholesale direct to consumer interest rates HERE

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Good Monday Morning campers...

There is not a lot of activity this morning driving the MBS. Rates should be mostly unchanged from Friday.

See the details in Monday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Tuesday’s bond market has opened in positive territory following geopolitical news from Russia. Stocks are reacting to the same news with the Dow down 363 points and the Nasdaq down 41 points.

See the details in Tuesday's Rate Lock Advisory...click HERE

Call us today for any loan scenario at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]

 

[Tamalewagon]

Happy Hump Day campers...

The MBS market opened in negative territory this morning despite even keel economic news. The Fed Gov Cooks is speaking later today which may impact rate a little. Hopefully the treasury auction will help rates this afternoon.

See the market details in Wednesday's Rate Lock Advisory...click HERE

Call us today for any purchase or refinance loan scenario to see how much we can save you at 866-476-2494 or click HERE to get wholesale pricing for your specific loan scenario.

Scott Wenhe
619-255-3182
[email protected]