I apologize for not getting this post done yesterday as I typically do. Last week, I was in Nashville attending the Mortgage Bankers Association’s Independent Mortgage Bankers Conference. It wrapped up on Friday which gave us some time to visit with my son who currently lives there. Our flight home Sunday afternoon was cancelled, which meant my sister-in-law and I had the pleasure of spending most of yesterday on flights to get back home to Seattle. Just for fun, I thought I’d share a pic I took of Minnie Pearl’s hat and shoes, which are on display at the Ryman Auditorium, home of the original Grand Ole Opry.
What May Impact Mortgage Rates this week, December 8, 2015
December 8, 2015 by 1 Comment
What May Impact Mortgage Rates this Week: November 30, 2015
November 30, 2015 by 1 Comment
Welcome to the last day of November and Cyber Monday. I hope you had a wonderful Thanksgiving holiday.
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What May Impact Mortgage Rates this week: November 23, 2015
November 23, 2015 by 1 Comment
This is a very short week stuffed with economic indicators that may impact the direction of mortgage interest rates.
The markets will be closed on Thursday for Thanksgiving and will close early on Friday.
What May Impact Mortgage Rates this week: November 16, 2015
November 16, 2015 by 1 Comment
I am so saddened by the events that have taken place in Paris and Beriut last week. Our hearts, prayers and thoughts are with the innocent people who were injured or lost their lives and to their families.
World events such as this may influence the direction of mortgage rates as traders may seek out the safety found in bonds, like mortgage backed securities. Tragic events may cause mortgage rates to lower.
What May Impact Mortgage Rates this Week: November 9, 2015
November 9, 2015 by 1 Comment
Mortgage rates continue to drift higher as odds increase that the Fed will raise the Funds Rate in December following the stronger than expected Jobs Report on Friday. As of 9:04 this morning, the Dow is down 239 at 17,671.
It’s a shorter work week with Veterans Day on Wednesday, November 11, 2015. A huge heartfelt thank you to our Veterans who serve our country and to their families.
Mortgage Rates trending higher after the Jobs Report
November 6, 2015 by 2 Comments
This morning’s Jobs Report came in much stronger than expected with 271,o00 new jobs added in October vs the 181,000 anticipated. Positive revisions were made for August and July. The unemployment rate remains at 5% and hourly wages saw their biggest year over year increase since 2009.
All this good news is not so good for mortgage interest rates. While it’s great for more jobs, less unemployment and higher wages, it translates to wage inflation. Inflation is the arch enemy of bonds and mortgage backed securities (bonds) are what mortgage rates are based on.
The strong Jobs Report also increases the odds of the Fed increasing the Fed Funds rate in December.
What May Impact Mortgage Rates this week: October 12, 2015
October 12, 2015 by Leave a Comment
Happy Columbus Day!
Bond markets are closed today so I will not be posting rates this week (at least, not today). However, I will share some of the economic indicators scheduled to be released this week that may impact the direction of mortgage interest rates:
What May Impact Mortgage Rates this Week: September 7, 2015
September 7, 2015 by Leave a Comment
Howdy from Nashville! I’m in Music City to visit my son and check out his new home. I will be back to work on Wednesday morning. My team at Mortgage Master can take great care of you while I’m away. Right now, my son and I are taking a quick break from exploring the city so I thought I’d share what economic indicators may be impacting mortgage rates this week.
There’s not a lot of economic indicators on the dance card this week, so watch for mortgage rates to take their direction from the stock market. Remember, typically if the stock market is doing well, mortgage rates may be deteriorating. The reverse is also true. This is because investors will seek safety with bonds (like mortgage backed securities).
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