Mortgage Rates - It May Be the Time to Lock
The stock market
(as measured by DOW) is up a big time +140 points in early trading. So, that
means that bonds like Mortgage Backed Securities (MBS) are selling off right? Not early this morning, but we
are seeing a negative trend in the last hour as of this writing (11:00 AM CST).
This morning's domestic economic data was right on the money, essentially
matching the market expectations across the board and is providing zero
momentum to the MBS market.
Unlike the last three trading sessions, we do not have any U.S. Treasury auctions to absorb. With all the technical hitting resistant levels, my recommendation would be to lock unless you are a gambler. I cannot state my infamous phrase when it comes to the mortgage rates, “Pigs Get Fat, and Hogs Get Slaughtered!”
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit me on my website at www.CallTheMoneyMan.com I have access to real time Wall St. data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
Unlike the last three trading sessions, we do not have any U.S. Treasury auctions to absorb. With all the technical hitting resistant levels, my recommendation would be to lock unless you are a gambler. I cannot state my infamous phrase when it comes to the mortgage rates, “Pigs Get Fat, and Hogs Get Slaughtered!”
Remember, if you want to know the benefits of locking your rate today versus floating, simply give me a call at 314-744-7806 or visit me on my website at www.CallTheMoneyMan.com I have access to real time Wall St. data and instant market alerts with breaking news that I monitor throughout the day to assist us on making the informed decision.
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