Mortgage Rate Report 04-23-15

Posted by on Apr 24, 2015 in News | No Comments
Rates At a Glance
Mortgage Rates
Currently Trending
Today’s Mortgage
Rate Forecast
Today’s Potential
Rate Volatility
Neutral Neutral Average
(by Sigma Research)
Today’s Mortgage Rate Summary
How Rates Move:

Conventional and Government (FHA and VA) lenders set their rates based on the pricing of Mortgage-Backed Securities (MBS) which are traded in real time, all day in the bond market.  This means rates or loan fees (mortgage pricing) moves throughout the day, being affected by a variety of economic or political events.  When MBS pricing goes up, mortgage rates or pricing generally goes down.  When they fall, mortgage pricing goes up.  Tracking these securities real-time is critical.  For more information about the rate market, contact me directly.  I’m among few mortgage professionals who have access to live trading screens during market hours.

Rates Currently Trending: Neutral

Yesterday’s MBS market was worse by -29 bps.  According to Sigma Research there was  average to high volatility.  Yesterday’s move was likely enough to affect rates or fees.  So far today the MBS market is essentially unchanged.

Today’s Rate Forecast: Neutral

Sigma Research says that this morning weekly jobless claims at 8:30 AM were thought to have declined 8K to 286K, as reported +1K to 295K. The 4 week average increased from 282,750 to 284,500. Claims have stayed under 300K for weeks (7) but the last month have been stuck at this level.   Mortgage rates were not affected by jobs numbers.  We expect the rest of the day to continue to trade in this tight range.  The only thing that could seriously move mortgage rates is an unexpected deal with Greece.

Today’s Potential Rate Volatility: Average

According to Sigma Research the risk for volatility for today is average.  We continue to trade in a very tight range, and we don’t expect that to change today.

Bottom Line:

If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them.

About Jesse Gonzalez
Jesse is member of the National Ethics Association, a member of the National Association of Realtors, certified with the California Association of Realtors as a Seniors Real Estate Specialist, and Jesse is also proud to be certified as a Military Housing Specialist with USA Cares.
About This Report And Disclosure Information
All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.

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