No Bull Agent

Mortgage Market Update: Will Tuesday’s housing starts report show an increase?

Information in this post is provided by Ron McGowan, Senior Mortgage Consultant with PrimeLending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional information on Ron, please visit his website at ILoanSanDiego.com.

Inside Lending Newsletter from Ron McGowan for the week of September 20, 2010

Market Update
INFO THAT HITS US WHERE WE LIVE…Fannie Mae released a survey showing 70% of those polled in June and July feel now is a good time to buy a home.  This is up from a 64% reading in January.  At the same time, 83% of those surveyed think it’s a bad time to sell, which isn’t such a terrible thing, since there’s still plenty of inventory for buyers to choose from.

Another group of industry observers concluded that sales of existing homes hit bottom in July and will rebound in the fall.  They based this on recent reports for purchase mortgage applications and pending home sales, which track signed purchase contracts for existing homes.

The fact remains, homes are now more affordable for more people than they’ve been in years.  Today’s historically low mortgage rates make monthly payments much easier to work into the family budget.  Read the rest of this entry »

Tags: california, home buyer, ken kaplan, market, mortgage, no bull agent, san diego, update

Will inflation data cause mortgage rates to rise this week?

What’s Ahead for Mortgage Rates this Week:  September 13, 2010
By:  Greg Wickstrand

Information in this post is provided by Greg Wickstrand, Home Loan Consultant for HomeServices Lending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional posts by Greg, please visit his BLOG.

A shift in Wall Street sentiment caused mortgage markets to worsen last week. There wasn’t much in the way of new data, but the numbers that did hit the street helped quell fears of a double-dip recession.

Conforming mortgage rates rose between Monday-Friday for the first time since June, and mortgage-backed securities have now lost ground on six of the last 7 trading days.

During this period, conforming mortgage rates have risen by as much as 0.375 percent.

Mortgage rates for FHA-insured home loans are higher, too.

Remember, concern for the future of the U.S. economy was a major catalyst for low rates this summer. The drop in rates, which began in April on weaker-than-expected data, accelerated through July and August on record-low home sales and a stalled jobs market.

Lately, though, these concerns are turning to hope. Read the rest of this entry »

Tags: california, home buyer, inflation data, kaplan, mortgage rate, pending home sales, retail sales data, san diego

How will housing data influence rates the week of August 16?

Information in this post is provided by Greg Wickstrand, Home Loan Consultant for HomeServices Lending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional posts by Greg, please visit his BLOG.

What’s Ahead for Mortgage Rates this Week:  August 16, 2010
By:  Greg Wickstrand

Mortgage markets worsened last week, putting a pause on the mortgage rate rally that dates to mid-April. Mortgage rates rose last week and home affordability suffered.

The Refi Boom remains in full effect, but rates are not as dazzling as they were a week ago.

It’s somewhat strange that mortgage rates rose last week given the heavy dose of negative-bending news.

• The Federal Reserve noted that the economy “has slowed“
• New unemployment claims rose to a 6-month high
• Retail sales — excluding auto sales — rose less than expected

Mortgage rates often to fall on such news, but last week, they rose. The biggest reason was weak demand on a new 30-year bond issuance from the government. Read the rest of this entry »

Tags: august 16, california, greg wickstrand, home buyer, ken kaplan, loan, market, mortgage rate, nobullagent, san diego, update