Rate Locks

Attention Mortgage Shoppers: Lock Rates Before Tomorrow’s Jobs Report

Few would disagree that economic recovery depends most heavily on jobs and housing recoveries. That’s why tomorrow’s Bureau of Labor Statistics report on December’s unemployment rate and jobs gained/lost is so important—and why rate markets will react wildly to it. Private payroll provider ADP’s December report was three times expectations and caused rates to rise

Attention Mortgage Shoppers: Lock Rates Before Tomorrow’s Jobs Report

Few would disagree that economic recovery depends most heavily on jobs and housing recoveries. That’s why tomorrow’s Bureau of Labor Statistics report on December’s unemployment rate and jobs gained/lost is so important—and why rate markets will react wildly to it. Private payroll provider ADP’s December report was three times expectations and caused rates to rise

PIMCO Head Bill Gross: No One Knows Where Housing Bottom Is

In an interview with CNBC today, PIMCO chief Bill Gross covered a broad array of economic topics, most notably saying that “no one really knows—the banks, Fannie or Freddie, the Treasury, the Fed, PIMCO—no one really knows where the bottom is for housing.” He said that as prices keep going down it perpetuates a cycle

WeeklyBasis 01/29/08: Bernanke is No Greenspan

Fixed and ARM rates are up slightly this week on mortgage bond weakness. Factory orders came in stronger than expected today, and bonds took this as a subtle sign that the Fed may only cut 25 basis points instead of 50. They’ve already cut 175 basis points in the past 4 months, and it typically

A Wintry Summer For The Economy

The economy was growing steadily earlier in 2004 , but cooled off significantly this summer. Nevertheless, the Fed continues to wean us from overly-cheap money. They’ve raised the benchmark Fed Funds Rate by a half-point to 1.5% since June 30. Interestingly though, mortgage rates have held close to their lows. This month, I wanted to