No Bull Agent

How will the mortgage market react to this week’s Fed meeting?

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 | November 1, 2010
By Greg Wickstrand

Mortgage markets remained highly volatile for the second straight week last week. Yet, over the course of 5 days, mortgage bonds ended the week relatively unchanged.

Conforming rates worsened Monday, Tuesday and Wednesday — rising as much as 3/8 percent as compared to the week prior — before settling lower through Thursday and Friday.

On the week overall, 30-year fixed rates worsened, 15-year fixed held steady, and 5-year ARMs improved.

And despite all the data released last week, it wasn’t the fundamentals that were causing rates to move. Instead, Wall Street was firmly focused on the Federal Reserve’s scheduled 2-day meeting Read the rest of this entry »

Tags: Downtown, Fed meeting, ken kaplan, market, mortgage rate, real estate, san diego, update

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

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