Friday, June 10, 2011

Mortgage Market Direction 6/10/11

Mortgage Market Direction 6/10/11
The storm, before the calm, before the storm?

This week appears to have shaped up, especially last couple days, to be the storm, before the calm, before the storm.

We have had some serious movement, over the last 2 days, on very weak driving data (that's the storm round I). An overheated equities market showing a large 150(ish) point retracement from its folly or exuberance and unfounded gains yesterday and the 10Y yield is back down to the 2.95% mark again.

What does all this mean?

Likely today, and even Monday, could be the calming of the overreacted movements in the markets that caused some who did not lock correctly, to lose over 1/2 pt in pricing or an 1/8th (.125) in interest rate increase.

Next week we have retail sales and CPI numbers being the major market movers. If those results are what I believe they will be, as all else is weak right now, we should see another spark (storm round II) for interest rate improvement.

Have a great weekend and if you are interested in property investing in Colorado, have questions on markets or rates, looking to purchase a home in Colorado or refinance the one you have and take advantage of incredible low fixed rates please call or email me.

mortgage rates 6/10/11

David ShamanskyUS Mortgages
8 Inverness Dr E Suite 260
Englewood, CO 80112
Equal housing lender

* above commentary is my own and based on techincaldata and news from both US and global markets and does not guarantee any direction on markets or rates.

No comments:

Post a Comment