Choicelend.com – News China continues to slow down hit the stock market hard sending investors into the safety of treasuries helping to improve mortgage rates. Spain was downgraded (again), Libya continues it’s civil war and our own citizens continue to struggle in finding jobs. This pullback will test our lows, great time to lock.

Today, the Treasury will auction $29 billion of 7 yr notes, yesterday’s and Tuesday’s 5 yr and 2 yr auctions were not the best in terms of demand. Some are beginning to question whether foreign investors are backing away from US debt; if today’s 7 yr suffers weaker demand look for that question to gain [...]

Choicelend.com – The turmoil in the Middle East has driven investors into the safety of US Treasuries improving mortgage rates at least temporarily. If you have been sitting on the sidelines waiting for rates to go down this is your chance. We have been saying all along that rates are on an uptrend and will [...]

Choicelend.com – Congress and the administration’s massive deficit spending is creating fear from our foreign investors in treasuries. In essence they are demanding higher yields for what they perceive as a riskier investment. US Treasuries a risky investment? Maybe or maybe not but perception is reality in this market. Mortgage rates follow treasuries and at [...]

Choicelend.com – The trouble in Egypt, slightly better employment data and several other economic indicators have given us a new risk of mortgage rates going higher. What ever happened to flight to safety? Money should be going into bonds improving rates but isn’t. The market is definitely bearish. If you are holding on hoping for [...]

Choicelend.com – The Fed is keeping mortgage rates stable for the near future with their scheduled purchase of $600B in US Treasuries. Without the Fed intervening, mortgage rates would be higher. Lock before rates increase.

Choicelend.com – Japan’s downgrade has the possibility of shifting bond money to the US which should push mortgage rates down. Too many financial reports to deal with though, unemployment, durable goods orders, consumer sentiment all which can drive the market up or down. GDP which comes out tomorrow will be a biggie. Look for mortgage [...]

Choicelend.com – Even though rates opened a little worse after MLK holiday, the worsening has stopped. Looks like the market will be trading sideways for the foreseeable future with some minor lows and highs. Good time to take the risk out and make your move.

Choicelend.com – In Dec most economists were saying consumer spending this year would increase 2.6% now the consensus is at +3.0% increase. The optimism for this year is gaining momentum yet many economists remain unconvinced and need to see data for Jan and Feb which lags 1 mo behind respectively. Food prices will increase substantially [...]

Choicelend.com – Mortgage Rates appear to have settled for the foreseeable future in a narrow range. We are still in a worsening environment and can change in a moment with US or world events. Europe still has some dark clouds which could rain on our parade. If you can lower your rate now, lock.