Financing Homes in Lake Tahoe and Truckee since 1992.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – April 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:

Monday’s bond market has opened in negative territory as investors prepare for the extremely busy week. The stock markets are contributing to the soft opening in bonds with sizable gains in the major stock indexes. The Dow is currently up 116 points while the Nasdaq has gained 20 points. The bond market is currently down 12/32 (2.70%), which should push this morning’s mortgage rates higher by approximately .125 – .250 of a discount point if comparing to Friday’s morning pricing.

Today has nothing scheduled that is of relevance to mortgage rates. Look for stock movement to affect mortgage rates more than anything else the rest of the day as traders prepare for what is coming over the next four days. Over that period, we will get eight economic reports that have the potential influence mortgage pricing, including three highly important reports. In addition to the economic data, there is also an FOMC meeting this week that will also likely have a heavy impact on the markets.

April’s Consumer Confidence Index (CCI) will start it all at 10:00 AM ET tomorrow. This index is considered to be an indicator of future spending by consumers. The Conference Board surveys 5,000 consumers from across the country about their personal financial situations. If sentiment is strong or rising, it is believed that consumers are more apt to make large purchases in the near future. However, if they are concerned about issues such as job security and savings, they will probably delay making large purchases. The latter is better for the bond market and mortgage rates because the expected slowdown in spending would keep inflation and economic growth to a minimum. On the other hand, a sizable increase could hurt the bond market, pushing mortgage rates higher tomorrow. It is expected to show a reading of 83.6, which would be an increase from March’s 82.3 reading. The lower the reading, the better the news it is for mortgage rates.

Wednesday has four things taking place that are worth watching. The two most important are the highly influential initial GDP reading for the first quarter and the afternoon adjournment of the FOMC meeting. Thursday brings us the ISM manufacturing index that is known to have a noticeable effect on the financial and mortgage markets. And then Friday caps the week with the almighty Employment report. Throughout those releases we also will get some less-important data that can contribute to the day’s gains or losses in the major indexes and mortgage rates.

Overall, Friday is the best candidate for most important day of the week although we could see plenty of movement in the markets and mortgage rates Wednesday and Thursday also.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – April 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:

Monday’s bond market has opened in negative territory as investors prepare for the extremely busy week. The stock markets are contributing to the soft opening in bonds with sizable gains in the major stock indexes. The Dow is currently up 116 points while the Nasdaq has gained 20 points. The bond market is currently down 12/32 (2.70%), which should push this morning’s mortgage rates higher by approximately .125 – .250 of a discount point if comparing to Friday’s morning pricing.

Today has nothing scheduled that is of relevance to mortgage rates. Look for stock movement to affect mortgage rates more than anything else the rest of the day as traders prepare for what is coming over the next four days. Over that period, we will get eight economic reports that have the potential influence mortgage pricing, including three highly important reports. In addition to the economic data, there is also an FOMC meeting this week that will also likely have a heavy impact on the markets.

April’s Consumer Confidence Index (CCI) will start it all at 10:00 AM ET tomorrow. This index is considered to be an indicator of future spending by consumers. The Conference Board surveys 5,000 consumers from across the country about their personal financial situations. If sentiment is strong or rising, it is believed that consumers are more apt to make large purchases in the near future. However, if they are concerned about issues such as job security and savings, they will probably delay making large purchases. The latter is better for the bond market and mortgage rates because the expected slowdown in spending would keep inflation and economic growth to a minimum. On the other hand, a sizable increase could hurt the bond market, pushing mortgage rates higher tomorrow. It is expected to show a reading of 83.6, which would be an increase from March’s 82.3 reading. The lower the reading, the better the news it is for mortgage rates.

Wednesday has four things taking place that are worth watching. The two most important are the highly influential initial GDP reading for the first quarter and the afternoon adjournment of the FOMC meeting. Thursday brings us the ISM manufacturing index that is known to have a noticeable effect on the financial and mortgage markets. And then Friday caps the week with the almighty Employment report. Throughout those releases we also will get some less-important data that can contribute to the day’s gains or losses in the major indexes and mortgage rates.

Overall, Friday is the best candidate for most important day of the week although we could see plenty of movement in the markets and mortgage rates Wednesday and Thursday also.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – April 25, 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 positive territory with stocks in selling mode during early trading. The Dow is currently down 147 points while the Nasdaq has lost 60 points. The bond market is currently up 10/32 (2.65%), which should improvement this morning’s mortgage rates by approximately .125 of a discount point.

We saw a little strength in bonds again yesterday afternoon despite a lackluster or average auction of 7-year Treasury Notes. This caused some lenders to issue slightly improved rates but I suspect many waited for this morning’s pricing to reflect that adjustment. This morning’s move in the 10-year yield puts us pretty close to the middle of its recently quite narrow trading range. The middle of a wide trading range is a sign that we will see a move either direction, leading to a noticeable change in rates in the immediate future. The fact that we are in the middle of a narrow range means that a move either way isn’t a concern unless the yield breaks below or above that range because the swing to either end equates to a just small change in rates.

What is concerning or at least noteworthy is the fact that we have seen mortgage bonds close in the negative three of the past four final trading days of the week (Thursday last week due to holiday). So while this morning’s open looks good, be cautious as the afternoon nears. If bonds start to lose momentum and begin to give up this morning’s gains, it would be a safe bet to plan on a negative close. Since we are seeing improvements this morning, it could lead to an afternoon increase in mortgage rates.

The University of Michigan posted their revised Index of Consumer Sentiment for April late this morning, revealing a reading of 84.1. This was higher than the preliminary estimate of 82.6, higher than forecasts, and the highest reading since last summer. The data indicates surveyed consumers were more optimistic about their own financial and employment situations than many had thought. Because higher levels of sentiment usually translates into stronger levels of consumer spending and economic growth, we should consider the data negative for the bond and mortgage markets. Fortunately, this report is not looked at as a key piece of data, limiting its impact on this morning’s mortgage rates.

Next week is a HIGHLY active week for the financial and mortgage markets. We have what many consider to be three of the most important economic reports all scheduled for release in the same week. On top of that, there is also another FOMC meeting next week in addition to a handful of moderately important reports. None of them are scheduled for Monday, but the rest of the week is likely to be quite volatile, particularly the last three days.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – April 25, 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 positive territory with stocks in selling mode during early trading. The Dow is currently down 147 points while the Nasdaq has lost 60 points. The bond market is currently up 10/32 (2.65%), which should improvement this morning’s mortgage rates by approximately .125 of a discount point.

We saw a little strength in bonds again yesterday afternoon despite a lackluster or average auction of 7-year Treasury Notes. This caused some lenders to issue slightly improved rates but I suspect many waited for this morning’s pricing to reflect that adjustment. This morning’s move in the 10-year yield puts us pretty close to the middle of its recently quite narrow trading range. The middle of a wide trading range is a sign that we will see a move either direction, leading to a noticeable change in rates in the immediate future. The fact that we are in the middle of a narrow range means that a move either way isn’t a concern unless the yield breaks below or above that range because the swing to either end equates to a just small change in rates.

What is concerning or at least noteworthy is the fact that we have seen mortgage bonds close in the negative three of the past four final trading days of the week (Thursday last week due to holiday). So while this morning’s open looks good, be cautious as the afternoon nears. If bonds start to lose momentum and begin to give up this morning’s gains, it would be a safe bet to plan on a negative close. Since we are seeing improvements this morning, it could lead to an afternoon increase in mortgage rates.

The University of Michigan posted their revised Index of Consumer Sentiment for April late this morning, revealing a reading of 84.1. This was higher than the preliminary estimate of 82.6, higher than forecasts, and the highest reading since last summer. The data indicates surveyed consumers were more optimistic about their own financial and employment situations than many had thought. Because higher levels of sentiment usually translates into stronger levels of consumer spending and economic growth, we should consider the data negative for the bond and mortgage markets. Fortunately, this report is not looked at as a key piece of data, limiting its impact on this morning’s mortgage rates.

Next week is a HIGHLY active week for the financial and mortgage markets. We have what many consider to be three of the most important economic reports all scheduled for release in the same week. On top of that, there is also another FOMC meeting next week in addition to a handful of moderately important reports. None of them are scheduled for Monday, but the rest of the week is likely to be quite volatile, particularly the last three days.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – April 24, 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 following the release of mixed economic data. The stock markets are mixed also with the Dow down 6 points and the Nasdaq up 12 points. The bond market is currently down 2/32, but we should still see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due partly to strength late yesterday.

March’s Durable Goods Orders was posted at 8:30 AM ET, revealing a 2.6% increase in new orders for big-ticket items at U.S. factories and manufacturers. Durable Goods are products that are expected to last three or more years, such as airplanes, appliances and electronics. Forecasts were calling for an increase in new orders of 2.0%, but since this data is known to be extremely volatile, the variance in the headline number wasn’t much of a concern. However, a secondary reading that tracks new orders with more pricey and volatile transportation items (airplanes) excluded showed a 2.0% increase when it was expected to rise only 0.5%. With the more volatile items removed, that is a wide enough variance to consider the report a sign of manufacturing strength and makes the report bad news for bonds and mortgage rates.

Also early this morning was the release of last week’s unemployment figures. It showed that 329,000 new claims for unemployment benefits were filed last week, up from the previous week’s revised total of 305,000. This means that the employment sector was softer last week than many had thought. Therefore, as with any sign of economic weakness, we should consider the data favorable for mortgage rates.

We also have today’s 7-year Treasury Note auction to watch. Results will be posted at 1:00 PM ET, so any reaction will come during early afternoon trading. Yesterday’s 5-year Note sale didn’t go particularly well, so we don’t have a lot to be optimistic about in today’s auction. If the auction is met with a decent level of interest from investors, we could see bond prices improve and mortgage rates move slightly lower this afternoon. A similar level of demand as yesterday may lead to bonds slipping from their lunchtime levels, potentially causing an upward move in rates. We saw afternoon strength in bonds yesterday, but they were already gaining momentum before the auction results were posted.

Tomorrow has one economic report that may influence mortgage rates. The University of Michigan’s revised Index of Consumer Sentiment for April will be posted just before 10:00 AM ET tomorrow. This report gives us an indication of consumer sentiment and their willingness to spend. Current forecasts are calling for little change from the preliminary reading of 82.6. This means that surveyed consumers were just as optimistic about their own financial situations as they were earlier this month. This data is relevant because if consumers feel better about their own financial and employment situations, they are more apt to make a large purchase in the near future, fueling economic growth. I don’t expect this report to have a significant impact on bonds and mortgage pricing unless it shows a noticeable revision.


 

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – April 24, 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 following the release of mixed economic data. The stock markets are mixed also with the Dow down 6 points and the Nasdaq up 12 points. The bond market is currently down 2/32, but we should still see an improvement of approximately .125 of a discount point in this morning’s mortgage rates due partly to strength late yesterday.

March’s Durable Goods Orders was posted at 8:30 AM ET, revealing a 2.6% increase in new orders for big-ticket items at U.S. factories and manufacturers. Durable Goods are products that are expected to last three or more years, such as airplanes, appliances and electronics. Forecasts were calling for an increase in new orders of 2.0%, but since this data is known to be extremely volatile, the variance in the headline number wasn’t much of a concern. However, a secondary reading that tracks new orders with more pricey and volatile transportation items (airplanes) excluded showed a 2.0% increase when it was expected to rise only 0.5%. With the more volatile items removed, that is a wide enough variance to consider the report a sign of manufacturing strength and makes the report bad news for bonds and mortgage rates.

Also early this morning was the release of last week’s unemployment figures. It showed that 329,000 new claims for unemployment benefits were filed last week, up from the previous week’s revised total of 305,000. This means that the employment sector was softer last week than many had thought. Therefore, as with any sign of economic weakness, we should consider the data favorable for mortgage rates.

We also have today’s 7-year Treasury Note auction to watch. Results will be posted at 1:00 PM ET, so any reaction will come during early afternoon trading. Yesterday’s 5-year Note sale didn’t go particularly well, so we don’t have a lot to be optimistic about in today’s auction. If the auction is met with a decent level of interest from investors, we could see bond prices improve and mortgage rates move slightly lower this afternoon. A similar level of demand as yesterday may lead to bonds slipping from their lunchtime levels, potentially causing an upward move in rates. We saw afternoon strength in bonds yesterday, but they were already gaining momentum before the auction results were posted.

Tomorrow has one economic report that may influence mortgage rates. The University of Michigan’s revised Index of Consumer Sentiment for April will be posted just before 10:00 AM ET tomorrow. This report gives us an indication of consumer sentiment and their willingness to spend. Current forecasts are calling for little change from the preliminary reading of 82.6. This means that surveyed consumers were just as optimistic about their own financial situations as they were earlier this month. This data is relevant because if consumers feel better about their own financial and employment situations, they are more apt to make a large purchase in the near future, fueling economic growth. I don’t expect this report to have a significant impact on bonds and mortgage pricing unless it shows a noticeable revision.


 

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

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

Monday’s bond market has opened up slightly with stocks posting minor gains during early trading and today’s economic data showing no surprises. The Dow is currently up 34 points and the Nasdaq is up 2 points. The bond market is currently up 3/32 (2.70%), but due to strong selling late Thursday we should still see an increase of approximately .250 of a discount point if comparing to Thursday’s morning pricing.

The Conference Board gave us today’s only relevant data with the release of their March Leading Economic Indicators (LEI) at 10:00 AM ET. They announced a 0.8% increase that indicates a moderate to fairly strong rate of economic growth over the next several months. However, since that pegged forecasts, it has not had a negative impact on this morning’s mortgage rates.

The rest of the week brings us four more pieces of economic data for the markets to digest in addition to two potentially relevant Treasury auctions. March’s Existing Homes Sales numbers from the National Association of Realtors will be posted at 10:00 AM ET tomorrow. This report gives us an indication of housing sector strength and mortgage credit demand. It is also considered to be moderately important to the markets, but can influence mortgage pricing if it shows a sizable variance from forecasts. Ideally, the bond market would like to see a drop in home resales because a soft housing sector makes broader economic growth more difficult. Analysts are expecting to see little change in sales between February and March. The larger the increase, the worse the news it is for bonds and mortgage rates.

Overall, look for a fair amount of movement in the financial markets and mortgage rates this week. The single most influential economic report will likely be Thursday’s Durable Goods, but look for a surprise in tomorrow’s housing data to cause movement in rates also. This week is another filled with corporate earnings releases, so we need to watch for stock movement to also affect bond trading and mortgage rates. I am still holding the cautious stance towards rates until the 10-year yield gets closer to 2.80%.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – April 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:

Monday’s bond market has opened up slightly with stocks posting minor gains during early trading and today’s economic data showing no surprises. The Dow is currently up 34 points and the Nasdaq is up 2 points. The bond market is currently up 3/32 (2.70%), but due to strong selling late Thursday we should still see an increase of approximately .250 of a discount point if comparing to Thursday’s morning pricing.

The Conference Board gave us today’s only relevant data with the release of their March Leading Economic Indicators (LEI) at 10:00 AM ET. They announced a 0.8% increase that indicates a moderate to fairly strong rate of economic growth over the next several months. However, since that pegged forecasts, it has not had a negative impact on this morning’s mortgage rates.

The rest of the week brings us four more pieces of economic data for the markets to digest in addition to two potentially relevant Treasury auctions. March’s Existing Homes Sales numbers from the National Association of Realtors will be posted at 10:00 AM ET tomorrow. This report gives us an indication of housing sector strength and mortgage credit demand. It is also considered to be moderately important to the markets, but can influence mortgage pricing if it shows a sizable variance from forecasts. Ideally, the bond market would like to see a drop in home resales because a soft housing sector makes broader economic growth more difficult. Analysts are expecting to see little change in sales between February and March. The larger the increase, the worse the news it is for bonds and mortgage rates.

Overall, look for a fair amount of movement in the financial markets and mortgage rates this week. The single most influential economic report will likely be Thursday’s Durable Goods, but look for a surprise in tomorrow’s housing data to cause movement in rates also. This week is another filled with corporate earnings releases, so we need to watch for stock movement to also affect bond trading and mortgage rates. I am still holding the cautious stance towards rates until the 10-year yield gets closer to 2.80%.

Incline Village Home Loans and Incline Village Mortgage Loan Rates – December 17, 2014

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

Thursday’s bond market has opened in negative territory with no significant economic data set for release and the only minor data showing unfavorable results. The stock markets are calm with the Dow down 14 points and the Nasdaq nearly unchanged from yesterday’s close. The bond market is currently down 9/32 (2.67%), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

Yesterday afternoon’s release of the Fed Beige Book report didn’t reveal any significant surprises since the last update. Economic growth was modest to moderate in most Fed regions. Consumer spending that drives economic growth rose in most regions also, but the increase is being attributed to inclement weather during the period the last report covered. In other words, the data doesn’t mean consumers spent more than expected, just more than during the winter storms. This was an uneventful report for the most part that had little impact on mortgage rates late yesterday.

Last week’s unemployment update was today’s only relevant economic data. It revealed that 304,000 new claims for unemployment benefits were filed last week, up slightly from the previous week’s revised total of 302,000. Since analysts were expecting to see a larger increase and last week’s claims are still near their lowest levels since the fall of 2007, we should consider the data slightly negative for the bond market and mortgage rates. Fortunately this is only a weekly snapshot and its impact on this morning’s trading has been fairly minimal.

The bond market is expected to close at 2:00 PM ET today ahead of tomorrow’s Good Friday holiday. Stocks will be open for a full day of trading today. All markets will be closed Friday for the holiday and will reopen Monday morning for regular hours.

Lake Tahoe Home Loans and Lake Tahoe Mortgage Loan Rates – April 17, 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 in negative territory with no significant economic data set for release and the only minor data showing unfavorable results. The stock markets are calm with the Dow down 14 points and the Nasdaq nearly unchanged from yesterday’s close. The bond market is currently down 9/32 (2.67%), which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

Yesterday afternoon’s release of the Fed Beige Book report didn’t reveal any significant surprises since the last update. Economic growth was modest to moderate in most Fed regions. Consumer spending that drives economic growth rose in most regions also, but the increase is being attributed to inclement weather during the period the last report covered. In other words, the data doesn’t mean consumers spent more than expected, just more than during the winter storms. This was an uneventful report for the most part that had little impact on mortgage rates late yesterday.

Last week’s unemployment update was today’s only relevant economic data. It revealed that 304,000 new claims for unemployment benefits were filed last week, up slightly from the previous week’s revised total of 302,000. Since analysts were expecting to see a larger increase and last week’s claims are still near their lowest levels since the fall of 2007, we should consider the data slightly negative for the bond market and mortgage rates. Fortunately this is only a weekly snapshot and its impact on this morning’s trading has been fairly minimal.

The bond market is expected to close at 2:00 PM ET today ahead of tomorrow’s Good Friday holiday. Stocks will be open for a full day of trading today. All markets will be closed Friday for the holiday and will reopen Monday morning for regular hours.