MA mortgage rates

Massachusetts Weekly Mortgage Rate Report (Dec. 20, 2011)

by Rich Vetstein on December 20, 2011

A Guest Post by Brian Cavanaugh of SmarterBorrowing.com.

Inquire within for current Mortgage Rates or Guidelines   [email protected]  617.771.5021

Overall, I am expecting to see some movement in the markets and mortgage rates, especially if we get some surprising results from the week’s data or news about Europe’s financial crisis. Despite the holiday season, we need to keep a cautious approach toward rates because we are likely to see very thin trading (light volume) as a result of many traders keeping short hours or home for the holiday altogether. This means that firms that trade bonds will likely be keeping only a skeleton staff the latter part of the week and raises the possibility of a stronger reaction to surprises in the economic data than we normally would see.

The least important day for mortgage rates will likely be tomorrow unless something drastic happens overnight. We will probably see the most movement in rates Friday, but Thursday’s economic data can also move mortgage pricing noticeably. With the Christmas holiday next weekend, it is being observed next Monday. The bond market will close early this Friday afternoon ahead of the holiday and will reopen next Tuesday morning. Accordingly, proceed cautiously this week if still floating an interest rate and closing by the end of the year.  proceed cautiously this week if still floating an interest rate and closing by the end of the year.

If I were considering financing/refinancing a home, I would….

LOCK if my closing was taking place within 7 days…

LOCK if my closing was taking place between 8 and 20 days…

LOCK if my closing was taking place between 21 and 60 days…

FLOAT if my closing was taking place over 60 days from now…

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed.

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Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report.MA mortgage rates

Mortgage Rates are at all-time lows right now; 30 year fixed, 20 year fixed, 15 year fixed and even Jumbo Rates, and they are showing no signs of rising! I don’t see them going any lower but staying down at these levels for a while.  What’s moving Mortgage Rates? No one really knows right now but this is usually what happens, bonds go up, stocks go down.  Stocks go up, bonds go down. It’s really pretty easy to understand. However this mortgage market that we are in  is no where near normal.  In fact, it’s the total opposite, it’s like nothing we’ve ever experienced.

The housing market is stagnating at record low levels, refinance loans account for the majority of all present loan production.  Credit guidelines are as strict as they’ve ever been, it’s really brutal. Home values are off  by incredible amounts of  inventory. Mortgage Rates are showing no signs at all of rising anytime soon!

30 year fixed mortgage rates remain in the 4.375% to 4.625% range.  The 30 year fixed rate mortgage is 4.375% for a qualified borrower. 4.125% is presently being offered for two points.

Inquire within for current Mortgage Rates or guidelines [email protected] 617.771.5021

Economic Data

Wednesday’s bond market has opened in negative territory following modest stock gains. The Dow is currently up while the Nasdaq has gained. The bond market is currently down, which should push this morning’s mortgage rates higher by approximately .125 of a discount point.

There is no relevant economic data scheduled for release today. This leaves the stock markets to influence bond trading and mortgage rates. If the stock markets move higher from current levels, we should see bond prices fall and mortgage rates rise if the move is sizable. However, if the major stock indexes fall from where they are now, the bond market would likely improve, leading to slightly lower mortgage rates this afternoon.

The only relevant data scheduled for release tomorrow are weekly unemployment figures from the Labor Department. They will post the number of new claims for unemployment benefits filed last week, giving us a small measurement of employment sector growth. This data usually does not lead to noticeable changes in mortgage rates because the data tracks only a single week’s worth of new claims. Analysts are expecting 455,000 new claims, but it will likely take a fairly large variance for the markets to have much of a reaction to this data. This week’s release may carry a little more significance than usual because there is no other data scheduled for release that day.

Friday brings us the release of July’s Employment report that compiles several key employment readings and is based on an entire month’s worth of data. This is a very important report for the financial and mortgage markets and could lead to sizable changes to mortgage rates. I would not be surprised to see the traders prepare for the report by adjusting portfolios late tomorrow and Thursday. This could lead to some pressure in bonds or possibly improvements if market participants are betting on bad economic news coming. The results on mortgage rates should be fairly minimal and could easily be erased after the report is released Friday morning, but it is worth mentioning.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – FLOAT

If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Our Mortgage Guy, Brian Cav, is back with his Massachusetts weekly mortgage rate report. With near record interest rate lows, his sage advice, again, is to LOCK IN!

Mortgage Refinancing BOOM! Mortgage Markets are officially at 2010 lows and, extremely close to 2009 lows. We are “near record low” rates, and this is going to be as good as it ever will be, I know, I know…  I sound like a broken record. The funny thing is rates are at all time lows and the Federal Reserve has stoppped buying mortgage backed securities a few months ago. U.S. housing  and the U.S. economy is the reason for record low mortgage rates, the past 4 months it has all been about economic issues in Europe. Mortgage rates will not go any lower, LOCK in your refinancing or purchase mortgage financing very soon, I know, I sound like a broken record.

Inquire within for current Mortgage Rates [email protected] 617.771.5021

Economic Data

WEDNESDAY AFTERNOON UPDATE:  This week’s FOMC meeting has adjourned with no change to key short-term interest rates. This was widely expected and has not affected the markets or mortgage rates. The post-meeting statement did help influence opinions and bond trading. One of the points of interest was a comment that said the “economic recovery is proceeding” which differed slightly from the previous meeting that said economic activity continued to “strengthen.” Traders are taking that to mean the economic recovery is at a slower pace than previously thought.

The Fed indirectly indicated that concerns about Europe could affect that recovery, but said that they don’t expect that it to push the U.S. economy back into a recession. They also said that inflation remains subdued, which means there is no pressure to raise key rates anytime soon.

Overall, the lack of a change to rates has had no impact on the markets or mortgage rates, but the post-meeting statement was taken as favorable for the bond market. The lack of concern about inflation and the more cautious remarks on the status of our economic growth makes long-term securities such as mortgage-related bonds more attractive to investors.

The stock markets have changed little from their pre-announcement levels with the Dow up a couple of points and the Nasdaq still down a few points. The bond market is currently up, but I don’t think we will see a change to mortgage rates this afternoon since bonds had slipped slightly from morning highs before the 2:15 PM ET announcement. The bond market has improved slightly from its 2:15 PM level, but is still below where it was when rates were posted this morning.

May’s New Home Sales from the Commerce Department was today’s only relevant economic report. It revealed a whopping decline of 33% in sales of newly constructed homes, pushing sales levels down to record lows. This further indicates that the tax credits being offered to homebuyers were heavily supporting the housing market. That raises significant concerns about the growth ability of the housing sector now that they are expiring. This data is favorable news for the bond market and mortgage rates because a weakening housing sector will make a broader economic recovery more difficult and eases inflation concerns. Today’s data usually has little impact on trading and mortgage rates, but the size of decline has allowed the news to influence this morning’s rates.

The only important release scheduled for tomorrow is May’s Durable Goods Orders, which gives us an indication of manufacturing sector strength. It is known to be quite volatile from month to month and is expected to show a decline of 1.3% in new orders from April to May. A larger decline would be the ideal scenario for the bond market and could lead to a decline in mortgage pricing tomorrow.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK

If I was closing on a Home Mortgage in the next 60+ LOCK

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Weekly Mortgage Rate Lock Advisory For May 26, 2010

by Rich Vetstein on May 27, 2010

These days, every time I order a Greek salad, the feta cheese makes my stomach churn. I wonder if the Greek economic meltdown has something to do with it! Here’s our Mortgage Guy, Brian Cav, with his weekly Massachusetts mortgage rate report.

Mortgage Market

Brian Cav

Mortgage Rates have moved up from the 2010 lows that we had last week, this is  largely because of the modest stock rally and investors getting out of risky investments, “flight to quality,” These Greece issues, which are spreading throughout Europe, should keep mortgage rates down thru the summer, and not to mention North Korea is threatening military action against South Korea. Is it time to refinance out of that ARM mortgage? Yes, because LIBOR is rising. It’s time to get an updated mortgage rate quote.

The 30 year conventional rate mortgage remains in the 4.75% to 5% range for well qualified borrowers. To get the best mortgage pricing on a conventional mortgage you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point discount fee.

I am a huge fan of LOCKing in your mortgage interest rate right now. It would not matter to me if you were closing in one week or 60 days out. I would LOCK in immediately.

Inquire within for current Mortgage Interest Rates. [email protected] 617.771.5021

Economic Data

The bond market has moved lower following today’s 5-year Treasury Note auction. The stock markets have also given up a good portion of this morning’s early gains. Yesterday, the Dow was up 56 points after being up nearly 135 points earlier. The Nasdaq fell from earlier highs, and was up only 23 points. The bond market has extended yesterday morning’s losses, and was down 21/32. This will likely lead to an upward revision to this afternoon’s mortgage rates of approximately .125 – .250 of a discount point.

Yesterday’s economic data gave us mixed readings on the economy. The more important of the two was April’s Durable Goods Orders data that showed a 2.9% increase in new orders for big-ticket items last month. It also showed a sizable upward revision to March’s orders, indicating that the manufacturing sector was stronger than thought. However, if more volatile transportation related orders were excluded, we would have seen a 1.0% decline in orders. This was much weaker than expected, so overall the data can be considered neutral to slightly positive for the bond market and mortgage rates.

April’s New Home Sales data showed a much larger than expected increase in sales of newly constructed homes. This is negative for bonds, but the data usually has little influence on mortgage rates unless it varies greatly from forecasts. This report did show a sizable variance, but it appears that it is has not had much of an impact on today’s rates.

The first of two revisions to the 1st quarter Gross Domestic Product (GDP) will be released early tomorrow morning. The second revision to this report comes next month but isn’t expected to have much of an impact on the financial markets. The GDP is the sum of all goods and services produced in the U.S. and is considered to be the best indicator of economic growth. Last month’s preliminary reading revealed a 3.2% increase in the annual rate of growth. Analysts expect a slight upward revision to this reading with the consensus being a 3.3% rate of growth. If the upward revision is much stronger than expected, we may see the bond market react negatively and mortgage rates move higher.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK

If I was closing on a Home Mortgage in the next 60+ LOCK

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Weekly Mortgage Rate Lock Advisory, May 19, 2010

by Rich Vetstein on May 19, 2010

Brian Cav, Smarterborrowing.com

If it’s Wednesday, that means our weekly Massachusetts Mortgage Rate Report from our own Mortgage Guy, Brian Cav of Smarterborrowing.com. Take it away, Brian!

Mortgage Rates are currently staying and settling down near 2010 lows. I would have thought they would have come up a bit from last weeks close but they have not. Yes, now is absolutely the time to think about refinancing in you have not already. I would suggest LOCKing in at these current mortgage rates. I think it is a gamble if you do not. Remember, mortgage rates always rise faster than they fall.

The 30 year conventional rate mortgage remains in the 4.75% to 5.00% range for well qualified borrowers. To secure a 2010 low interest rate on a conventional mortgage you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point discount fee. Yes, there are options to finance without paying the discount point. If you are not planning on keeping your home for more than 5 years, you should consider a no cost loan or a Adjustable Rate Mortgage (5/1 ARM, 7/1 ARM or 10/1ARM). On a no cost loan, the Lender will pay the fees for you however you will pay a higher than par market rate. Or you can finance a ARM product were the rates are near all time lows if you know you will be in your current home for a specific amount of time.

Inquire within for current Mortgage Interest Rates. [email protected] 617.771.5021

Economic Data

Wednesday’s bond market initially opened in negative territory but has since erased those gains as stock prices started to fall. The stock markets are in selling mode again with the Dow down and the Nasdaq down. The bond market is currently up, which might improve this morning’s mortgage rates by approximately .125 of a discount point.

Today’s important inflation data gave us favorable results. The Labor Department reported that the Consumer Price Index (CPI) fell 0.1% last month when it was expected to rise slightly. Even better news was the core data reading that showed no change from March when it was expected to rise slightly. This means that inflationary pressures at the consumer level of the economy were lighter than thought. That is good news for rates because it makes long-term securities such as mortgage-related bonds more attractive to investors.

Later today, the minutes from the last FOMC meeting will be released. Market participants will be looking at how Fed members voted during the last meeting and any comments about inflation concerns in the economy. The goal is to form opinions about when the Fed may make a move to key short-term interest rates. The minutes will be released at 2:00 PM ET, so if there is a market reaction to them it will be evident during afternoon trading.

Tomorrow brings us the last relevant economic data of the week when April’s Leading Economic Indicators (LEI) are posted at 10:00 AM ET. This Conference Board report attempts to measure economic activity over the next three to six months. It is expected to show a 0.2% increase from March’s reading, meaning that economic activity is likely rise slightly during the next few months. A decline would be good news for the bond market and mortgage rates, while a larger increase could cause mortgage rates to inch higher tomorrow.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK

If I was closing on a Home Mortgage in the next 60+:  LOCK

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Mortgage Guy Brian Cav has his weekly Massachusetts mortgage rate lock advisory. Brian and I were talking mortgages last night at the Boston Real Estate Now Blog first inaugural get together. The circular irony is that bad economic news = lower mortgage rates. But by the same token, bad economic news = less housing sales = less mortgage originations. An interesting Catch-22!

Mortgage pricing has gotten better over the past 24 to 48 hours, and the reason they have gotten better is non US related issues; Greece and economic uncertainty have kept US mortgage rates down over the past week. I would cautiously FLOAT over the next day or two and LOCK in before Friday’s unemployment numbers. Please try not to get to greedy on the beautiful Cinco De Mayo!

The 30 year conventional mortgage rate still remains in the 4.875% to 5.125% range for well qualified consumers. To secure a par interest rate on a conventional mortgage you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount. If you are seeking a 15 year term, you should expect par in the 4.25% to 4.50% range with similar costs but lower FICO score requirements.

Inquire within for current Mortgage Interest Rates. [email protected] 617.771.5021

Economic Data

Wednesday’s bond market opened in positive territory again following more weakness in stocks. The bond market is currently up, which should improve this morning’s mortgage rates by approximately .1250 – .25 in mortgage pricing..

There is no relevant data scheduled for release today, so any afternoon revisions to mortgage rates will likely come from movements in stocks. If the stock markets move into positive territory, we may see bonds fall and mortgage rates move higher. If the major stock indexes move lower, afternoon improvements to rates may follow.

The Labor Department will release its 1st Quarter Productivity and Costs data early tomorrow morning. This information helps us measure employee productivity in the workplace. If employee productivity is rapidly rising, the bond market should react favorably. It is expected to show a increase in productivity.

We also will get weekly unemployment figures from the Labor Department early tomorrow. They are expected to say that 440,000 new claims for unemployment benefits were filed last week. This would be a decline from the previous week, but unless we see a large variance from forecasts this data likely will not have much of an influence on tomorrow’s mortgage rates.

The big news of the week comes Friday when we will get April’s monthly employment numbers. They are expected to show that the unemployment rate stood at 9.7% last month and that 187,000 new jobs were added to the economy. The higher the unemployment rate and the fewer number of jobs added, the better the news for bonds and mortgage rates.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – FLOAT/LOCK

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Here’s our Mortgage Guy Brian Cav’s weekly report on mortgage rates. I also read an interesting blog post on how Iceland’s Eyjafjallajökull volcano has helped interest rates.

Mortgage rates went up a bit this morning. Why? Because the stock market rallied from an eight session low yesterday. This has been a pretty slow week in regards to economic data up to this point. The 30 year fixed is in the 4.875% to 5.25% range for qualified borrowers. You must have a mid FICO score of 740 or better and a loan to value below 80%. I am still in favor of LOCKing right now because I believe there are a few factors that are pressuring rates higher. The stock market seems likes it is only going to continue to go up plus there are more Treasury auctions on Thursday. These rates are low now… LOCK them in. Yes you should be thinking about refinancing!

Economic Data

Wednesday’s bond market has opened in positive territory despite a lack of economic news. The bond market is currently up, which should improve this morning’s mortgage rates pricing

It’s another quiet day in the markets, particularly in bonds. There is no relevant economic data being posted today. The stock markets are being driven mostly by earnings results. But those reports do not directly affect the bond market or mortgage rates.

Tomorrow morning brings us the release of March’s Producer Price Index (PPI). It will give us an important measurement of inflationary pressures at the producer level of the economy. The core data is more important to market participants because it excludes more volatile food and energy prices. If it shows rapidly rising prices, inflation fears may hurt bond prices since it erodes the value of a bond’s future fixed interest payments, leading to higher mortgage rates. However, a slight increase, or better yet a decline in prices, would be good news for the bond market and mortgage rates.

Late tomorrow morning, the National Association of Realtors will post March’s Existing Homes Sales numbers. A similar report to this one and actually the week’s least important data- March’s New Home Sales will be released Friday morning. Both are expected to show increases from February’s levels.

Also being released tomorrow are the weekly unemployment figures from the Labor Department. They are expected to show 450,000 new claims for benefits were filed last week, down considerably from the previous week. Generally speaking, a higher than expected number of claims would be considered favorable for bonds and mortgage rates.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK/FLOAT – Tough Call

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Home buyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

Inquire within for current Mortgage Interest Rates. [email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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Weekly Massachusetts Mortgage Rate Lock Report

by Rich Vetstein on April 19, 2010

We’re pleased to welcome back our resident Mortgage Guy Brian Cav with his popular weekly Massachusetts Weekly Mortgage Rate Lock Report. (There was a delay in posting this–Brian wrote it last Wednesday–Sorry!).

Way to much to lose than to gain right now with Mortgage Interest Rates!  I still like LOCKing in your Mortgage Rate very soon, especially if you are closing in the next 30 days. I just think there is so much volatility within the Mortgage markets right now…  over the past two weeks I have seen mid day price changes almost every day, that’s unheard of. Mortgage Rates started off the week doing the same thing it did last week… recovering.  Hopefully you gained some back on the rally late last week and earlier this week and LOCKed your rate in.

Inquire within for current Mortgage Interest Rates. [email protected] 617.771.5021

Economic Data

Wednesday’s bond market has opened in negative territory following the release of stronger than expected consumer spending data. The bond market is currently down, which will likely push this morning’s mortgage rates higher by approximately .25 of a discount point.

This morning’s economic data actually gave us mixed results. The Commerce Department said that sales at the retail level of the economy rose 1.6% last month, exceeding forecasts. This is considered negative news for bonds and mortgage rates because consumer spending makes up two-thirds of the U.S. economy. This makes bonds less appealing  and pushes mortgage rates higher.

March’s Consumer Price Index (CPI) was today’s second release, but it gave us good news. The Labor Department reported that the overall index rose 0.1% as it was expected to do. The good news came in the more important core data reading that excludes more volatile food and energy prices.  That can be considered quite favorable for bonds, but the sales data seems to be taking center stage this morning.

The Federal Reserve will post its Fed Beige Book report at 2:00 PM ET this afternoon. This report is named simply after the color of its cover and details economic conditions throughout the U.S. by region. Since the Fed relies heavily on the contents of this report during their FOMC meetings, its results can have a fairly big impact on the financial markets and mortgage rates if it reveals any significant surprises. Generally speaking, signs of strong economic growth or inflation rising would be considered negative for bonds and mortgage rates.

The Industrial Production and Consumer Sentiment are not extremely important Data & Reports mortgage mortgage rates coming out Thursday and Friday of this week.

FLOAT or  LOCK

If I was closing on a Home Mortgage in the next 0 to 15 Days – LOCK

If I was closing on a Home Mortgage in the next 15 to 30 Days – LOCK

If I was closing on a Home Mortgage in the next 30 to 60 Days – LOCK/FLOAT – Tough Call

If I was closing on a Home Mortgage in the next 60+ FLOAT

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

  • Are you a possible Massachusetts First Time Homebuyer?
  • Do you have a Real Estate client inquiring about current Mortgage Rates?
  • Do you have any Refinancing questions?
  • Should you be thinking about Refinancing out of your ARM (Adjustable Rate Mortgage)?
  • Have your Real Estate clients been Pre Approved?

[email protected] 617.771.5021

Credit: Bloomberg, Yahoo Finance, Mortgage News, MBS Quoteline, WSJ, NY Times

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