Mortgage Rates at a Glance 04-27-15

Posted by on Apr 27, 2015 in News | No Comments
Rates At a Glance
Mortgage Rates
Currently Trending
Today’s Mortgage
Rate Forecast
Today’s Potential
Rate Volatility
(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

Sigma Research said that the MBS market is a little worse this morning (slightly worse rates).  Last week the MBS market lost -10 bps.  This was more than likely not enough to affect rates or fees.  We continue to trade in a very tight range.

Today’s Rate Forecast: Neutral

According to  Sigma Research the main financial event this week is the FOMC policy statement on Wednesday at 2:00 PM EST. There are no major data points today. No real changes over the weekend in Greece/EU attempts to work out a deal to get funds to save it from default. Weekend polls showed a majority of the country’s people (Greeks) want the government to make compromises needed to release funds for its economy. Housing will once again be on the radar with Case-Shiller Home Price Index Pending Home Sales on Wednesday.  Last weeks home sales were much stronger than expected, but we’ll be keeping an eye out to see if it will continue.

Today’s Potential Rate Volatility: Average

According to Sigma Research the risk for volatility is average today and this week.  The MBS market has been much calmer as of late.  The big news is likely to be the FOMC policy statement as denoted above and could cause some movement in the mortgage rate market.

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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