DATE

Best Mortgage Rate Information

9/8/05

10:59 am. Unemployment numbers showed that last month's filings were down by 1,000. This would usually spur the markets forward and put stress of mortgage rates to move upwards but most traders expect the report to be revised in the wake of Katrina. The stock markets have opened down today but there has been some positive data, the markets may turn around and push the bond's yield higher by the end of the day. If you are floating your mortgage rate lock you should be weary.

9/7/05

11:28 am. Labor costs are soaring, this is a key sign of inflation. The bond has responded in a move higher. The mortgage rate markets look at this data as a sign for the FED to increase rates. But still, more data will come in and probably counteract this notion. Rates will jump up today, but not much higher than their current position.

9/6/05

6:05 pm. The stock markets have surged ahead after a week of loses. The recovery efforts should force some economic recovery and oil companies are resuming some shipping. This news has made traders advance the markets and rates have followed up. It will probably be a bumpy road ahead on rates. Expect Mortgage rates to jump up and down based on the strained economic data (lose of jobs and retail sales in the gulf region).

9/4/05

1:23 pm. The more time passing the more tragic outcomes are revealed in the Gulf region. The economy will face a long and expensive path. A major grain, oil and coffee port has been demolished. The economy will feel this and it appears  (to the loan officers here) that another expected rate raising by the fed will be held off. The markets will tell this week after the vacation.

9/3/05

12:29 pm. Concerns over oil and the recovery of the south appear to be on the market traders' minds over the weekend. The economy will feel the pain of this natural disaster. It appears that other oil producing nations will assist and ease some of the markets' concerns. Expect mortgage rate traders to hold steady while they interpret the long term effects to the economy. Rates have dropped at the end of last week and may jump up slightly as recovery efforts continue but in all likely hood they will stay a low range during early recovery.

9/1/05

12:09 am. The bond's yield is continuing to go down as fear overcome the markets. The markets are worried about the devastation from the hurricane and it appears to expect a long bumpy road ahead. Gas prices will soar and the economy is expected to be hurt, severely. Mortgage rates will most likely not go up as hopes of low rates will help prevent a recession from setting in. The economy is on edge.

8/30/05

2:04 am. MARKETS ARE WORRIED. The hurricane has caused massive damage and the markets are looking to see what the ramifications will be. Most traders believe that the major ports in the gulf are damaged and oil production will be hurt. Prices will go up and the FED will be forced to hold off on raising mortgage rates and they will probably have to act to prevent a recession. Expect rates to hold low and not go up..

8/29/05

11:46 am. Oil prices are in the 70s per barrel over concerns that production will be halted and imports will be hurt due to hurricane damage. With the prices sky rocketing the cost of oil will begin to reflect in over all pricing of retail and wholesale products. This will contribute to a slow down in the economy. It will act, to the economy, as a rate change upward. Expect mortgage rate adjustments to be mild and they might move downward. The Fed may want to avoid raising rates while oil prices are so high, raising rates may spur a recession.

8/26/05

3:15 pm. Consumer confidence is down for the first time in several months. This did not really affect the mortgage rate markets, what is controlling them today is the Fed Chairman. He has stated that he is watching ( and in essence warning) the increasing values of items like homes and assets. It appears that he believes the recent low interest rates have spurred this on and will continue to play a role in the rising values. This is a hint that he may not be satisfied with those previous rate increases and that more rate increases should be expected.

8/25/05

6:18 pm. Stocks are on the rise as the market recoups from yesterdays late day fall. Expect the markets to be worried about oil prices. The bond is holding it's yield and mortgage rates have not jumped up, although there has been talk yesterday evening by a fed boardmember of inflation looming.

8/24/05

1:14 pm. Although, yesterday, the numbers showed fewer home sales. Today the numbers show higher NEW home sales. So the building of home must be up.  Durable good orders decline last month. The mortgage rate market is holding on this mixed bag of data.

8/23/05

3:09 pm. FEWER HOME SALES. This should be considered breaking news. Home sales have kept the economy alive over some horrible economic situations over the past few years. The bond's yield is retreating but no immediate reaction on the mortgage rate situations. With outrages oil prices, if the home sales slump the economy will follow

8/22/05

11:56 pm. Rates are holding steady. It has been several weeks since there has been a Monday that has not been a up and then down day on the mortgage rate markets. It seems that the up tick in the stock market is lead by the easing of oil prices. This is pushing the yield on the 10 year T bill higher but rates are holding steady (I guess the market traders are expecting a down turn). The positive feeling in the markets are spurred on by numbers showing that a loss of some oil production will not significantly hurt America's Oil supply.

8/18/05

10:29 pm. The 10 year T-bill's yield close down 6 ticks. Everyone get happy!. Wait one minute. The bond has been a rollercoaster over the last week. Basically from the strange oil prices, consumer confidence, production orders and pricing. It is hard to get a grip on this market and to figure mortgage rate changes. It should be expected for rates to open tomorrow lower but they have mostly held fast as the markets waiver.

8/17/05

4:42 pm. Yesterday's fears that oil demand is to high for the supply is over today. It appears that data show there is plenty oil for all demands. The markets have rebounded from yesterdays drop. Mortgage rates will jump on this data as the 10 year T-bill's yield rises. US producers prices rose which means the consumer should expect higher prices soon.

8/16/05

1:19 pm. Consumer prices have risen. This has caused major retailers to show slow or lower growth compared to last year. Most of the reason behind this is the increasing cost of borrowing money, (higher mortgage rate and interest rates) and the incredible, runaway oil prices. The Energy Dept. has done little to reduce the burden of oil prices and the markets are scared that this is going to stunt growth. Mortgage rates may dip later today.

8/15/05

5:40 pm. Oil prices have eased off today. On speculation that the demand will decrease. The stock markets have eased off too. Expect rates to move back up from their recent dip on the high oil prices.

8/11/05

8:37 pm. Today showed some optimistic outlook for mortgage rates but as always there is no guarantee that rates will go down. The bond's yield did close lower than yesterday. The traders and the stock markets were very optimistic on the future of the economy. They believe that strong manufacturers, inventory orders and retail sales will withstand the surging oil prices.

8/10/05

5:38 pm. The markets rose today but by late after noon they collapse. Mostly driven by the surging oil prices. They is no shortage of supply the markets are just worried that demand will be high. The bond is lost in this issue. Usually it would lower it's yield and raise it's price which would result in l0ower mortgage rates but no one expects that to happen. Mortgage rates will rise and steadily move higher as long as the FED keeps saying the economy is growing and strong.

8/9/05

3:10 pm. As expected the Federal Reserve boosted interest rates for the tenth time this year. The raising of rates was expected but the Federal reserve chairman hinted that they will continue to raise rates. The Fed wants to keep the economy in control and hold off inflation. Expect mortgage rates to move up on this data.

8/8/05

4:29 pm. As predicted here over the weekend, oil prices sky rocketed today. Will the price per barrel ever slow? Most likely not anytime soon. The stock market's early gains today where smashed out by the price per barrel. The worst news for mortgage rate shoppers is that the bond's yield keeps going up. All this poor economic activity would lead most people to believe rates would go down. But that is unlikely to happen. Rates will go up and be un affected by high energy prices.

8/5/05

10:58 am. Treasuries are on the rise and that means that mortgage rates will follow the rise. Why? well the economy drives the FED to raise and lower rates inoder to control the speed at which the economy expands and contracts. When the jobs report comes in and there are more than expected jobs (created (209,000))  then the fear is that the economy is growing to fast and the FED will step in and raise rates.

8/4/05

11:04 pm. With oil prices rising to records...lets say it again RECORD! HIGHS the markets are taking a pounding. With oil prices on the rise and the addition of the 30 year bond now selling, the mortgage rates look confused. They are staying high but are waiting on data and also to see the market's reactions to the sky rocketing price of oil.

8/3/05

5:24 pm. Today the FED announced that they will begin to sell the 30 year T-bill again. It has held off on sales for the last for years. As the U.S. debt has grown and the surplus has disappeared the fed is raising revenue via this tool again. Although the main market competitor for the mortgage back securities dollar has been the ten year T-bill many investors may look to the 30 year T-bill. Today's news has lowered the yield on the 10 year and has held mortgage rates in check.

8/2/05

11:59 am. Personal spending is up. This means that savings are down. The consumer is once again kicking the economy into gear with their spending habits. The consumer also earned more money and factory orders rose. All this positive data will once again push the yield on the T-Bill higher and force mortgage rates to rise. Most likely at a steady pace but a rise in rates none the less.

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