WeeklyBasis 12/03/07: Good Week To Lock Rates

Conforming fixed rates on loans up to $417k open this week down about .375%, and Jumbo rates on loans above $417k are about even (because Jumbos are still pricing slightly more to risk than market levels). This is a good time for borrowers to lock rates and capture lows in a week that may be

WeeklyBasis 10/29/07: Why The Fed Shouldn’t Cut Rates

This week opens strong with Jumbo and Conforming fixed and ARM loans all down .25%. Since Fed Chairman Ben Bernanke’s October 15 comments that the housing market may be a significant drag on economic growth, rate markets have been pricing in a .25% Fed Funds cut ahead this Wednesday’s FOMC meeting. At that time, I

WeeklyBasis 04/30/07: Rates Volatile on Economic Data

There were no WeeklyBasis reports the past couple weeks, because I have doing some longer-form writing about the markets for my company’s quarterly newsletter and for a real estate magazine. If you want to receive my newsletter, please let me know. And attached is a copy of a piece I wrote for the June issue

WeeklyBasis 04/02/07: Rates Up Slightly This Week

Fixed and ARM rates are up about .125% after a four week run with no changes. Given all the trouble with sub-prime loans in the first quarter, it’s great for borrowers that we start the second quarter with rates at very competitive levels. I should also note that, for borrowers with at least 20% equity

WeeklyBasis 02/05/07: Goldilocks is Just Right

As 2006 ended, most economists and Fed officials were expecting the economy to be crippled by high energy prices plus weak housing and manufacturing. But so far in 2007, wages and employment are increasing, energy costs are dropping, and even housing is holding up in many areas. All of this means rates have climbed and

WeeklyBasis 01/29/07: Rates Higher to Curb Inflation Concerns

Fixed and ARM rates open this week up .125% over last week. This isn’t a bad climb considering that the 10yr Treasury note, has climbed almost .5% since early-December. The biggest market event this week will be Wednesday when the Fed’s rate decision is reported. It’s unlikely we’d see a surprise rate hike, but their

WeeklyBasis 11/06/06: How Elections Affect Rates

Fixed and ARM rates dipped by as much as .25% last week then came back up after Friday’s controversial ‘jobs created’ and ‘wage growth’ report for October. Friday’s report came in well below estimates, which would normally cause rates to drop. But August and September numbers were revised significantly upward and rates rose accordingly. The

WeeklyBasis 07/10/06: Rates Starting To Even Out

Fixed and ARM rates are even this week over last week because Friday’s weaker-than-expected jobs and wage growth was a signal that economic growth may be slowing. Slower growth means that the Fed may be able to ease off their tightening soon. The next Fed meeting is August 8, and most economists think we’ll see

WeeklyBasis 05/01/06: Rates Higher As Fed Chief Asserts Himself

Fixed and ARM opened about even this morning, but bond markets sold off in reaction to strong manufacturing sector data and to inflation comments from Fed chairman Ben Bernanke. So I expect rates to be up about .125% to .25% tomorrow. Bernanke told a CNBC correspondent that the markets and financial media have under-reacted to