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Incline Village Home Loans and Incline Village Mortgage Loan Rates – March 31, 2014

Incline Village Home Loans, Incline Village Mortgages, Incline Village Mortgage Rates, and Incline Village Home Loan Rates:

Monday’s bond market has opened in negative territory with stock showing early strength. The major stock indexes are starting the week off in rally mode with the Dow up 114 points and the Nasdaq up 26 points. The bond market is currently down 11/32, which will likely push this morning’s mortgage rates higher by approximately .125 – .250 of a discount point if comparing to Friday’s morning pricing.

There is no relevant economic data being posted this morning, so we are seeing stocks drive bond trading during early trading. The rest of the brings us the release of five economic reports that have the potential to move mortgage rates with two of them considered to be highly important to the markets.

Fed Chairman Yellen is speaking at a conference in Chicago late this morning. The topic is not expected to bring any surprises or juicy tidbits about the economy or monetary policy and is not expected affect mortgage rates. However, we always have the possibility of something said catching market participants off guard, so these type of speaking engagements are often worth paying attention to. I am not concerned about this speech though and feel there is little likelihood of mortgage rates moving to anything that she may say.

Tomorrow has one piece of economic data that we need to watch and it is one of the more important reports we get each month. The Institute for Supply Management (ISM) will release their manufacturing index for March at 10:00 AM ET tomorrow. This index gives us an important measurement of manufacturer sentiment by surveying manufacturing executives. It is the first piece of data that we see each month that covers the preceding month. In other words, it is the freshest economic data each month. A reading above 50 means more surveyed executives felt business improved during the month than those who said it had worsened. This month’s report is expected to show a reading of 54.0, which would be an increase from February’s reading of 53.2. This means that analysts think business sentiment improved from last month’s level. That would be relatively bad news for the bond market and mortgage rates. A noticeable decline would be favorable for rates while an increase would be con! sidered negative.

Overall, Friday will likely be the biggest day of the week due to the release of March’s Employment report while tomorrow may be runner-up. The middle part of the week should be relatively calm, at least compared to what I am expecting to see in tomorrow and Friday’s trading. As we get closer to the Employment report, it would not be surprising to see traders firm up their positions and holdings since that report is a major market-mover. There often is a lot of anxiety in the markets right before that report is posted. Keep in mind though that we can see the markets change quickly any day, so please proceed cautiously if still floating an interest rate and closing in the near future.

 

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – March 31, 2014

Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, and Lake Tahoe Mortgage Rates:

Monday’s bond market has opened in negative territory with stock showing early strength. The major stock indexes are starting the week off in rally mode with the Dow up 114 points and the Nasdaq up 26 points. The bond market is currently down 11/32, which will likely push this morning’s mortgage rates higher by approximately .125 – .250 of a discount point if comparing to Friday’s morning pricing.

There is no relevant economic data being posted this morning, so we are seeing stocks drive bond trading during early trading. The rest of the brings us the release of five economic reports that have the potential to move mortgage rates with two of them considered to be highly important to the markets.

Fed Chairman Yellen is speaking at a conference in Chicago late this morning. The topic is not expected to bring any surprises or juicy tidbits about the economy or monetary policy and is not expected affect mortgage rates. However, we always have the possibility of something said catching market participants off guard, so these type of speaking engagements are often worth paying attention to. I am not concerned about this speech though and feel there is little likelihood of mortgage rates moving to anything that she may say.

Tomorrow has one piece of economic data that we need to watch and it is one of the more important reports we get each month. The Institute for Supply Management (ISM) will release their manufacturing index for March at 10:00 AM ET tomorrow. This index gives us an important measurement of manufacturer sentiment by surveying manufacturing executives. It is the first piece of data that we see each month that covers the preceding month. In other words, it is the freshest economic data each month. A reading above 50 means more surveyed executives felt business improved during the month than those who said it had worsened. This month’s report is expected to show a reading of 54.0, which would be an increase from February’s reading of 53.2. This means that analysts think business sentiment improved from last month’s level. That would be relatively bad news for the bond market and mortgage rates. A noticeable decline would be favorable for rates while an increase would be con! sidered negative.

Overall, Friday will likely be the biggest day of the week due to the release of March’s Employment report while tomorrow may be runner-up. The middle part of the week should be relatively calm, at least compared to what I am expecting to see in tomorrow and Friday’s trading. As we get closer to the Employment report, it would not be surprising to see traders firm up their positions and holdings since that report is a major market-mover. There often is a lot of anxiety in the markets right before that report is posted. Keep in mind though that we can see the markets change quickly any day, so please proceed cautiously if still floating an interest rate and closing in the near future.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – March 28, 2014

 Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, and Lake Tahoe Mortgage Rates:

Friday’s bond market has opened in negative territory with stocks looking to close the week with strong gains. The Dow is currently up 132 points while the Nasdaq has gained 43 points. The bond market is currently down 8/32, but we should see little change in this morning’s mortgage rates due to strength late yesterday that is offsetting this morning’s losses.

Yesterday’s 7-year Treasury Note auction went fairly well but not as good as Wednesday’s 5-year Note sale. The benchmarks we use to measure investor demand for the securities showed a decent level of interest. That may have contributed to some of the improvement in bonds that we saw late yesterday. It wasn’t enough of a move to cause a lot of lenders to issue intra-day price improvements but it could have led to some. If your lender improved rates late yesterday, you are likely going to see a slight increase this morning. If yours was in the majority that sat still, you should see little change between yesterday morning’s and this morning’s pricing.

February’s Personal Income & Outlays report was posted at 8:30 AM ET today. The Commerce Department announced that personal income rose 0.3% last month as did personal spending. The income reading was slightly higher than forecasts of a 0.2% rise and the increase in spending matched predictions. This data is relevant to the bond and mortgage markets because consumer spending makes up over two-thirds of the U.S. economy, but is not a market mover. Rising income means consumers have more money to spend, fueling economic growth. Today’s readings didn’t draw much concern or joy in stocks or bonds since the data was close to expectations and the report is not considered to be a key piece of data.

Late this morning, the University of Michigan posted their revised Consumer Sentiment Index for March. It came in at 80.0 that pegged forecasts and nearly matched the preliminary estimate of 79.9. This means that consumer sentiment about their own financial and employment situations changed little from March’s earlier estimate. That makes the data neutral towards mortgage rates.

Next week beings us the release of a handful of economic reports that may affect mortgage rates, including two highly important reports that are likely to cause movement in broader markets. Monday has nothing too concerned scheduled. Fed Chairman Yellen is expected to speak in Chicago late morning, although the topic doesn’t appear to be a threat to the financial or mortgage markets. Still, anytime she is speaking, traders will be listening and may react.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – March 28, 2014

Incline Village Home Loans, Incline Village Mortgages, Incline Village Mortgage Rates, and Incline Village Home Loan Rates:

Friday’s bond market has opened in negative territory with stocks looking to close the week with strong gains. The Dow is currently up 132 points while the Nasdaq has gained 43 points. The bond market is currently down 8/32, but we should see little change in this morning’s mortgage rates due to strength late yesterday that is offsetting this morning’s losses.

Yesterday’s 7-year Treasury Note auction went fairly well but not as good as Wednesday’s 5-year Note sale. The benchmarks we use to measure investor demand for the securities showed a decent level of interest. That may have contributed to some of the improvement in bonds that we saw late yesterday. It wasn’t enough of a move to cause a lot of lenders to issue intra-day price improvements but it could have led to some. If your lender improved rates late yesterday, you are likely going to see a slight increase this morning. If yours was in the majority that sat still, you should see little change between yesterday morning’s and this morning’s pricing.

February’s Personal Income & Outlays report was posted at 8:30 AM ET today. The Commerce Department announced that personal income rose 0.3% last month as did personal spending. The income reading was slightly higher than forecasts of a 0.2% rise and the increase in spending matched predictions. This data is relevant to the bond and mortgage markets because consumer spending makes up over two-thirds of the U.S. economy, but is not a market mover. Rising income means consumers have more money to spend, fueling economic growth. Today’s readings didn’t draw much concern or joy in stocks or bonds since the data was close to expectations and the report is not considered to be a key piece of data.

Late this morning, the University of Michigan posted their revised Consumer Sentiment Index for March. It came in at 80.0 that pegged forecasts and nearly matched the preliminary estimate of 79.9. This means that consumer sentiment about their own financial and employment situations changed little from March’s earlier estimate. That makes the data neutral towards mortgage rates.

Next week beings us the release of a handful of economic reports that may affect mortgage rates, including two highly important reports that are likely to cause movement in broader markets. Monday has nothing too concerned scheduled. Fed Chairman Yellen is expected to speak in Chicago late morning, although the topic doesn’t appear to be a threat to the financial or mortgage markets. Still, anytime she is speaking, traders will be listening and may react.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – March 27, 2014

Incline Village Home Loans, Incline Village Mortgages, Incline Village Mortgage Rates, and Incline Village Home Loan Rates:

Thursday’s bond market has opened flat even though one of this morning’s economic reports gave us unfavorable results. The stock markets are calm also with the Dow up 21 points and the Nasdaq up 2 points. The bond market is almost unchanged from yesterday’s close, but we still should see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due to strength late yesterday.

Yesterday’s 5-year Treasury Note auction went very well with several indicators we use to measure investor demand showing a high level of interest. That helped fuel some afternoon buying in bonds and led to some lenders revising their rates to show a slight improvement. If today’s 7-year Note sale goes just as well, we could see another strong afternoon for the bond market and mortgage rates. Results of the sale will be posted at 1:00 PM ET, so look for any reaction to come during early afternoon hours again.

There were two pieces of economic data posted this morning, both at 8:30 AM ET. The first was last week’s unemployment numbers that showed new claims for unemployment benefits fell 10,000 last week. The 311,000 initial claims were well below forecasts of 330,000 and the lowest number we have seen since late November. That means that the employment sector strengthened last week, making the data negative for mortgage rates. Fortunately though, this is only a weekly snapshot of one indicator, so its impact on this morning’s pricing has been minimal.

Also posted early this morning was the second revision to the 4th Quarter GDP. It didn’t reveal any surprises, showing that the economy grew at a 2.6% annual pace last quarter. This was a small upward revision from the previous estimate of 2.4%, but matched forecasts. Even a secondary reading that helps us track prices and inflation pegged expectations. Since there were no surprises in the data that is now three to six months old, the news failed to move the financial or mortgage markets. Analysts and market traders are much more concerned with next month’s preliminary reading of the current quarter.

Tomorrow also has two pieces of economic data for the markets to digest, starting with February’s Personal Income & Outlays report at 8:30 AM ET. This data helps us measure consumers’ ability to spend and current spending habits, which is important to the mortgage market because of the influence that consumer spending related information has on the financial markets. If a consumer’s income is rising, they are more likely to make additional purchases in the near future. This raises inflation concerns, adds fuel for economic growth and has a negative effect on the bond market and mortgage rates. Current forecasts are calling for a 0.2% increase in income and a 0.3% rise in spending. Smaller than expected increases would be good news for bonds and mortgage shoppers.

The final report of the week comes from the University of Michigan just before 10:00 AM ET tomorrow. Their revision to their March Consumer Sentiment Index will give us another indication of consumer confidence, which hints at consumers’ willingness to spend. As with Tuesday’s CCI report, rising confidence is considered bad news for the bond market and mortgage pricing. Tomorrow’s report is expected to show little change from the preliminary reading of 79.9. Favorable results for bonds and mortgage rates would be a sizable decline in confidence.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – March 27, 2014

Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, and Lake Tahoe Mortgage Rates:

Thursday’s bond market has opened flat even though one of this morning’s economic reports gave us unfavorable results. The stock markets are calm also with the Dow up 21 points and the Nasdaq up 2 points. The bond market is almost unchanged from yesterday’s close, but we still should see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due to strength late yesterday.

Yesterday’s 5-year Treasury Note auction went very well with several indicators we use to measure investor demand showing a high level of interest. That helped fuel some afternoon buying in bonds and led to some lenders revising their rates to show a slight improvement. If today’s 7-year Note sale goes just as well, we could see another strong afternoon for the bond market and mortgage rates. Results of the sale will be posted at 1:00 PM ET, so look for any reaction to come during early afternoon hours again.

There were two pieces of economic data posted this morning, both at 8:30 AM ET. The first was last week’s unemployment numbers that showed new claims for unemployment benefits fell 10,000 last week. The 311,000 initial claims were well below forecasts of 330,000 and the lowest number we have seen since late November. That means that the employment sector strengthened last week, making the data negative for mortgage rates. Fortunately though, this is only a weekly snapshot of one indicator, so its impact on this morning’s pricing has been minimal.

Also posted early this morning was the second revision to the 4th Quarter GDP. It didn’t reveal any surprises, showing that the economy grew at a 2.6% annual pace last quarter. This was a small upward revision from the previous estimate of 2.4%, but matched forecasts. Even a secondary reading that helps us track prices and inflation pegged expectations. Since there were no surprises in the data that is now three to six months old, the news failed to move the financial or mortgage markets. Analysts and market traders are much more concerned with next month’s preliminary reading of the current quarter.

Tomorrow also has two pieces of economic data for the markets to digest, starting with February’s Personal Income & Outlays report at 8:30 AM ET. This data helps us measure consumers’ ability to spend and current spending habits, which is important to the mortgage market because of the influence that consumer spending related information has on the financial markets. If a consumer’s income is rising, they are more likely to make additional purchases in the near future. This raises inflation concerns, adds fuel for economic growth and has a negative effect on the bond market and mortgage rates. Current forecasts are calling for a 0.2% increase in income and a 0.3% rise in spending. Smaller than expected increases would be good news for bonds and mortgage shoppers.

The final report of the week comes from the University of Michigan just before 10:00 AM ET tomorrow. Their revision to their March Consumer Sentiment Index will give us another indication of consumer confidence, which hints at consumers’ willingness to spend. As with Tuesday’s CCI report, rising confidence is considered bad news for the bond market and mortgage pricing. Tomorrow’s report is expected to show little change from the preliminary reading of 79.9. Favorable results for bonds and mortgage rates would be a sizable decline in confidence.

 

Incline Village Home Loans and Incline Village Mortgage Loan Rates – March 21, 2014

Incline Village Home Loans, Incline Village Mortgages, Incline Village Mortgage Rates, and Incline Village Home Loan Rates:

Friday’s bond market has opened flat with nothing to drive trading this morning and stocks mixed during early trading. The Dow is currently up 77 points while the Nasdaq has lost 8 points. The bond market is currently nearly unchanged from yesterday’s close, but we should still see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due to strength late yesterday.

With nothing of importance scheduled for today other than a couple of Fed member speaking engagements, we can expect stock movement to be the biggest influence on bond trading and mortgage rate movement. If we see an intra-day revision to mortgage rates it will likely be a result of a noticeable move upward or downward in the major stock indexes. If stocks move higher, we will probably see bond yields and mortgage rates follow suit.

In a bit of encouraging news for mortgage shoppers, the benchmark 10-year Treasury yield seems to be forming a resistance level at 2.80%. We haven’t had anything significant to really fuel selling or buying in bonds since Wednesday afternoon, so it is a bit premature to rely on it. This morning’s open has it just below 2.77%. If 2.80% turns out to be a resistance level, it would narrow its recent range we use to help predict mortgage rate direction. That would also make a downward move in rates a little more likely than if 2.90% was the upper end of our current range. Again, this may be premature but I am watching it closely and may adjust recommendations in the immediate future based partly on that theory.

Next week brings us the release of a handful of economic reports for the markets to digest in addition to two potentially influential Treasury auctions. Some of the data is more important than others but none are considered to be key releases. Monday is the only day of the week with nothing scheduled so we can expect stock movement and any weekend geopolitical news to drive bond trading and mortgage rates until the calendar starts Tuesday.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – March 21, 2014

Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, and Lake Tahoe Mortgage Rates:

Friday’s bond market has opened flat with nothing to drive trading this morning and stocks mixed during early trading. The Dow is currently up 77 points while the Nasdaq has lost 8 points. The bond market is currently nearly unchanged from yesterday’s close, but we should still see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due to strength late yesterday.

With nothing of importance scheduled for today other than a couple of Fed member speaking engagements, we can expect stock movement to be the biggest influence on bond trading and mortgage rate movement. If we see an intra-day revision to mortgage rates it will likely be a result of a noticeable move upward or downward in the major stock indexes. If stocks move higher, we will probably see bond yields and mortgage rates follow suit.

In a bit of encouraging news for mortgage shoppers, the benchmark 10-year Treasury yield seems to be forming a resistance level at 2.80%. We haven’t had anything significant to really fuel selling or buying in bonds since Wednesday afternoon, so it is a bit premature to rely on it. This morning’s open has it just below 2.77%. If 2.80% turns out to be a resistance level, it would narrow its recent range we use to help predict mortgage rate direction. That would also make a downward move in rates a little more likely than if 2.90% was the upper end of our current range. Again, this may be premature but I am watching it closely and may adjust recommendations in the immediate future based partly on that theory.

Next week brings us the release of a handful of economic reports for the markets to digest in addition to two potentially influential Treasury auctions. Some of the data is more important than others but none are considered to be key releases. Monday is the only day of the week with nothing scheduled so we can expect stock movement and any weekend geopolitical news to drive bond trading and mortgage rates until the calendar starts Tuesday.

 

Incline Village Home Loans and Incline Village Mortgage Loan Rates – March 20, 2014

Incline Village Home Loans, Incline Village Mortgages, Incline Village Mortgage Rates, and Incline Village Home Loan Rates:

Thursday’s bond market has opened down slightly due to stronger than expected economic data and early gains in stocks. The Dow is currently up 67 points and the Nasdaq has gained 14 points. The bond market is currently down 2/32, which with yesterday’s afternoon sell-off should put this morning’s mortgage rates approximately .500 of a discount point or .125% in rate higher than Wednesday’s morning levels.

The first of this morning’s three pieces of economic data that we were watching was last week’s unemployment figures at 8:30 AM ET. They showed that 320,000 new claims for unemployment benefits were filed last week, up from the previous week’s unchanged 315,000. By theory, the increase is good news for bonds and mortgage rates because rising claims points towards a softening employment sector. However, since analysts were expecting to see 330,000 initial claims, we should consider the results slightly negative for mortgage rates as they indicate the labor market was a little stronger than thought.

We got the other two reports at 10:00 AM ET. The National Association of Realtors said in their Existing Home Sales report that home resales fell 0.4% last month. That matched forecasts but did drop sales to their lowest level since July 2012. Because that means the housing sector is not growing, it is favorable news for the bond market and mortgage rates. Unfortunately, the fact it was expected is preventing a positive reaction in this morning’s trading.

And the Conference Board closed this week’s economic calendar when it released its Leading Economic Indicators (LEI) for February, revealing a 0.5% increase when analysts were forecasting a 0.3% rise. That means the indicators are predicting stronger economic growth over the next several months than previously thought. While this is not considered to be a major release or highly tracked data, it still gave us results that hinted at stronger than expected economic activity. Therefore, the data is also slightly bad news for the bond and mortgage markets.

Tomorrow has nothing scheduled in terms of economic data. There is a Fed member speaking engagement around lunch time and a couple more after the markets close. I am not expecting the earliest speech to affect bond trading or mortgage rates and the other two won’t take place until we are done for the week. It is much more likely that stock movement will drive bond trading and possibly mortgage rates tomorrow. If we see stocks move higher, we can expect more pressure in bonds, moving the benchmark 10-year yield and mortgage pricing higher. On the other hand, stock weakness should translate into bond gains and slightly lower mortgage rates tomorrow.

 

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – March 20, 2014

Lake Tahoe Home Loans, Lake Tahoe Home Loan Rates, Lake Tahoe Mortgage Loans, Lake Tahoe Mortgage Loan Rates, and Lake Tahoe Mortgage Rates:

Thursday’s bond market has opened down slightly due to stronger than expected economic data and early gains in stocks. The Dow is currently up 67 points and the Nasdaq has gained 14 points. The bond market is currently down 2/32, which with yesterday’s afternoon sell-off should put this morning’s mortgage rates approximately .500 of a discount point or .125% in rate higher than Wednesday’s morning levels.

The first of this morning’s three pieces of economic data that we were watching was last week’s unemployment figures at 8:30 AM ET. They showed that 320,000 new claims for unemployment benefits were filed last week, up from the previous week’s unchanged 315,000. By theory, the increase is good news for bonds and mortgage rates because rising claims points towards a softening employment sector. However, since analysts were expecting to see 330,000 initial claims, we should consider the results slightly negative for mortgage rates as they indicate the labor market was a little stronger than thought.

We got the other two reports at 10:00 AM ET. The National Association of Realtors said in their Existing Home Sales report that home resales fell 0.4% last month. That matched forecasts but did drop sales to their lowest level since July 2012. Because that means the housing sector is not growing, it is favorable news for the bond market and mortgage rates. Unfortunately, the fact it was expected is preventing a positive reaction in this morning’s trading.

And the Conference Board closed this week’s economic calendar when it released its Leading Economic Indicators (LEI) for February, revealing a 0.5% increase when analysts were forecasting a 0.3% rise. That means the indicators are predicting stronger economic growth over the next several months than previously thought. While this is not considered to be a major release or highly tracked data, it still gave us results that hinted at stronger than expected economic activity. Therefore, the data is also slightly bad news for the bond and mortgage markets.

Tomorrow has nothing scheduled in terms of economic data. There is a Fed member speaking engagement around lunch time and a couple more after the markets close. I am not expecting the earliest speech to affect bond trading or mortgage rates and the other two won’t take place until we are done for the week. It is much more likely that stock movement will drive bond trading and possibly mortgage rates tomorrow. If we see stocks move higher, we can expect more pressure in bonds, moving the benchmark 10-year yield and mortgage pricing higher. On the other hand, stock weakness should translate into bond gains and slightly lower mortgage rates tomorrow.