Boston Mortgage Rate Commentary 12/29/09

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Tuesday’s bond market has opened slightly in positive territory following mixed trading in stocks and no surprises in this week’s only significant economic news. The stock markets are relatively calm with the Dow up 6 points and the Nasdaq down 3 points. The bond market is currently up 2/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point.

The Conference Board posted their Consumer Confidence Index (CCI) for December late this morning, showing…

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Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/28

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Monday’s bond market has opened in negative territory following minor gains in stocks. The stock markets are starting the week in positive ground, but not by much. The Dow is currently up 12 points while the Nasdaq has gained 4 points. The bond market is currently down 8/32, which will likely push this morning’s mortgage rates higher by approximately .250 of a discount point compared to Thursday’s morning rates.

There is…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/23

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Wednesday’s bond market has opened in positive territory after this morning’s economic data gave us favorable results. The stock markets are mixed with the Dow down 11 points and the Nasdaq up 5 points. The bond market is currently up 11/32, which will likely improve this morning’s mortgage rates by approximately .250 of a discount point.

November’s Personal Income and Outlays report was the first of today’s three releases. It showed that personal…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/21/2009

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Monday’s bond market has opened down sharply following early stock gains that has shifted funds away from the bond market. The stock markets are rallying with the Dow up 120 points and the Nasdaq up 24 points. The bond market is currently down 27/32, which will likely push this morning’s mortgage rates higher by approximately .750 of a discount point compared to Friday’s morning rates. Most of this increase comes this morning, but some of it came from weakness late Friday.

There is no…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/18

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Friday’s bond market has opened down slightly with no relevant economic news scheduled for release today. The stock markets are showing relatively minor gains with the Dow up 8 points and the Nasdaq up 16 points. The bond market is currently down 4/32, but I am still expecting to see a small improvement in this morning’s mortgage rates due to strength late yesterday.

We likely will see…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/17/2009

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Thursday’s bond market has opened in positive territory following a weak open in stocks. The stock markets are reacting to overseas losses and concerns about the economy after yesterday’s FOMC comments. The Dow is currently down 98 points while the Nasdaq has lost 23 points. The bond market is currently up 17/32, which will likely improve this morning’s mortgage rates by approximately .250 of a discount compared to yesterday’s morning rates.

The Labor Department gave us last week’s unemployment figures early this morning. They announced that 480,000 new claims for unemployment benefits were filed last week. This was…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/16

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Wednesday’s bond market has opened in positive territory after this morning’s inflation data did not cause concern like yesterday’s PPI release did. The stock markets are also showing gains with the Dow up 40 points and the Nasdaq up 15 points. The bond market is currently up 10/32, which should improve this morning’s mortgage rates by approximately .125 - .250 of a discount point.

This morning’s major news…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/14

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Tuesday’s bond market has opened well in negative territory following some surprising inflation news. The stock markets are relatively calm with the Dow down 10 points and the Nasdaq nearly unchanged. The bond market is down 13/32, which should push this morning’s mortgage rates higher by approximately .250 - .375 of a discount point.

The Labor Department gave us the news that fueled …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage rate Commentary 12/14

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Monday’s bond market has opened in positive territory despite early gains in stocks. The stock markets are reacting favorably to both international (Dubai World) and domestic (Citi) news that eased some concerns in the market. The result is the Dow up 28 points while the Nasdaq has gained 14 points. The bond market is currently up 3/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point over Friday’s rates.

There is no …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/11

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Friday’s bond market has opened in negative territory following the release of much stronger than expected economic data. The stock markets have reacted fairly positive to the news with the Dow up 57 points and the Nasdaq up 6 points. The bond market is currently down 17/32, which will likely push this morning’s mortgage rates higher by approximately .250 of a discount point.

This morning big news was …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/10

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Thursday’s bond market has opened well in negative territory following yesterday’s weak Treasury auction. The stock markets are showing gains with the Dow up 79 points and the Nasdaq up 14 points. The bond market is currently down 16/32, which will likely push this morning’s mortgage rates higher by approximately .250 of a discount point.

This morning’s economic news wasn’t …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/9

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Wednesday’s bond market has opened relatively flat following an uneventful opening in stocks. The stock markets are mixed with the Dow up a couple of points and the Nasdaq down nearly the same. The bond market is practically unchanged from yesterday’s closing level, so I am expecting little change in this morning’s mortgage rates.

There is no …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/8

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Tuesday’s bond market has opened in positive territory again following early weakness in stocks. The stock markets are showing sizable losses with the Dow down 85 points and the Nasdaq down 6 points. The bond market is currently up 11/32, which should improve mortgage rates by approximately .250 - .375 of a discount point over yesterday’s morning rates.

There is no relevant economic news scheduled for release today or tomorrow. Therefore …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/7/09

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Monday’s bond market has opened in positive territory, recovering part of Friday’s sell-off. The stock markets are showing modest gains with the Dow up 20 points and the Nasdaq up 3 points. The bond market is currently up 8/32, which should improve this morning’s mortgage rates by approximately .250 of a discount point from Friday’s morning rates.

This week is …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/4/09

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Friday’s bond market has opened down sharply due to the results of this morning’s Employment report. The stock markets are rallying around the news, pushing the Dow higher by 130 points while the Nasdaq has gained 37 points. The bond market is currently down 34/32, which should translate into an increase in this morning’s mortgage rates of approximately .625 of a discount point. This equates to approximately .125 of a percent in rate.

The Labor Department gave us today’s news that was so bad …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/3

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Thursday’s bond market has opened in negative territory following the release of unfavorable economic news. The stock markets are mixed again with the Dow down 25 points and the Nasdaq up 3 points. The bond market is currently down 13/32, which will likely push this morning’s mortgage rates higher by approximately .125 of a discount point over yesterday’s morning rates.

The 3rd Quarter Productivity revision gave us a lower …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12-2

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Wednesday’s bond market has opened flat with no relevant economic news scheduled for release this morning. The stock markets aren’t influencing bond trading either with the major indexes mixed. The Dow is currently down 10 points and the Nasdaq up 15 points. The bond market is nearly unchanged from yesterday’s close, but we will still likely see an increase in this morning’s mortgage rates of approximately .250 of a discount point due to weakness late yesterday.

Today’s only …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 12/1

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Tuesday’s bond market has opened in negative territory despite weaker than expected economic results from a very important report. Stock market gains are likely the cause of this morning’s bond weakness. Stocks are rallying with the Dow up 133 points and the Nasdaq up 30 points. The bond market is currently down 11/32, which should push this morning’s mortgage rates higher by approximately .125 - .250 of a discount point.

Today’s big news …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/30

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Monday’s bond market has opened in negative territory, unable to extend Friday’s rally. The stock markets are relatively calm with the Dow up a few points and the Nasdaq down a few points. The bond market is currently down 8/32, which may minimize the expected improvements in this morning’s mortgage rates. However, I am still expecting to see a small improvement in this morning’s mortgage rates compared to Wednesday’s pricing.

There are five …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary week of 11/29

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There are five pieces of economic news that may affect mortgage rates this week. There are relevant reports scheduled for release every day except for tomorrow, meaning it likely will be a fairly active week for mortgage rates. Even though there is no relevant data being posted tomorrow, we will still likely see a change in mortgage rates due to Friday’s market movements that came as a result of news from overseas-particularly Dubai. Many lenders were closed or on a skeleton staff Friday, so we should see those improvements reflected in tomorrow’s rates.

November’s manufacturing index from the Institute for Supply Management (ISM) will kick off the week’s data at 10:00 AM ET Tuesday. This index measures manufacturer sentiment and can have a considerable impact on …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/27

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Friday’s bond market has opened in positive territory due significant selling on stocks during early trading. The stock markets are posting sizable losses with the Dow down 152 points and the Nasdaq down 35 points. The bond market is currently up 11/32, but I am expecting to see little change in mortgage rates since many lenders are closed or will reflect today’s news in Monday’s pricing.

Despite the current losses in…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/25/09

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Wednesday’s bond market has opened has opened in negative territory following the release of stronger than expected economic data. The stock markets are showing minor gains with the Dow up 22 points and the Nasdaq up 6 points. The bond market is currently down 8/32, but we still should see an improvement of approximately .250 of a discount point in this morning’s mortgage rates due to strength in bonds late yesterday.

The first of today’s four relevant reports was…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/24/2009

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Tuesday’s bond market has opened fairly flat after this morning’s economic data gave us mixed results. The stock markets are giving back some of yesterday’s gains with the Dow down 36 points and the Nasdaq down 12 points. The bond market is currently up 2/32, but we will likely see an improvement in this morning’s mortgage rates of approximately .250 of a discount point due to strength in bonds late yesterday.

This morning’s release of…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage rate commentary 11/23/09

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Monday’s bond market has opened in negative territory following stronger than expected economic data and a sizable rally in stocks. The stock markets are starting the week with strong gains with the Dow up 149 points and the Nasdaq up 36 points. The bond market is currently down 5/32, but I am not expecting to see much change in this morning’s mortgage rates.

The National Association of Realtors reported late this morning that …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary week of 11/22/09

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The revised November reading to the University of Michigan Index of Consumer Sentiment will also be posted late Wednesday morning. Analysts are expecting to see an upward revision to the preliminary reading of 66.0. Unless we see a significant variance from the forecasted reading, I don’t think this data will cause much movement in mortgage rates Wednesday.

October’s New Home Sales is the last report, but …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/20/2009

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Friday’s bond market opened flat with no relevant economic news being posted today. The stock markets are showing losses with the Dow down 40 points and the Nasdaq down 14 points. The bond market is currently down 2/32, which should keep this morning’s mortgage rates at yesterday’s levels.

The stock markets appear prepared to close the week in negative ground. This should …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/19

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Thursday’s bond market opened in positive territory following early stock losses that have made bonds more attractive to investors. The stock markets are showing sizable losses with the Dow down 145 points and the Nasdaq down 44 points. The bond market is currently up 10/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point.

The Conference Board posted their Leading Economic Indicators (LEI) late this morning, announcing a 0.3% increase. This was …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/17/2009

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Tuesday’s bond market opened in negative territory despite some extremely favorable economic news. The stock markets are showing relatively minor losses with the Dow down 18 points and the Nasdaq down 8 points. The bond market is currently down 3/32, which will likely keep this morning’s mortgage rates close to yesterday’s levels.

The Labor Department gave us the first and more important of today’s two relevant economic reports. They announced that the Producer Price Index (PPI) rose 0.3% last month, falling short of expectations. However, the big news was …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/16/09

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Monday’s bond market opened in positive territory despite early stock gains and mixed economic news. The stock markets are kicking the week off in positive ground with the Dow up 119 points and the Nasdaq up 27 points. The bond market is currently up 5/32, which with Friday’s late gains should improve this morning’s mortgage rates by approximately .250 of a discount point.

The Commerce Department reported this morning that October’s Retail Sales rose 1.4%, exceeding forecasts of a 0.9% increase. At first look, this …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary week of 11/15

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This week brings us the release of six monthly economic reports for the markets to digest. With very important data scheduled for release three different days and relevant data four of the five days, we will likely see a fair amount of volatility in the markets and mortgage pricing this week.

The first data is one of the most important reports of the week. The Commerce Department will give us …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/13/2009

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Friday’s bond market has opened flat following favorable consumer confidence news but early stock gains. The stock markets are looking to close the week in an upward move with the Dow up 78 points and the Nasdaq up 12 points. The bond market is nearly unchanged, but we should see an …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/12/09

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Thursday’s bond market has opened fairly flat despite stock weakness. The stock markets are showing losses with the Dow down 52 points and the Nasdaq down 7 points. The bond market is nearly unchanged from Tuesday’s close, so we will likely see little change in this morning’s mortgage rates.

The Labor Department gave us last week’s unemployment figures this morning. They reported that 502,000 new claims for unemployment benefits were filed last week, falling short of expectations. That is theoretically bad news for bonds, but …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11-10-09

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Tuesday’s bond market has opened in positive territory despite early gains in stocks. The stock markets are extending yesterday’s rally, but by a much less margin. The Dow is currently up 27 points while the Nasdaq has gained 4 points. The bond market is currently up 9/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point.

There is no relevant economic data scheduled to be posted today. However, we do have the 10-year Treasury Note sale to be concerned with. The markets will be…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11/09/2009

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Monday’s bond market has opened up slightly despite early stock gains. The stock markets are rallying this morning, pushing the Dow to a one year high. It is currently showing a gain of 140 points while the Nasdaq is up 50 points. The bond market is currently up 3/32, which should improve this morning’s mortgage rates by approximately .125 of a discount point.

There is no relevant economic data scheduled for release today. In fact, there is no relevant data scheduled until Friday morning. There are two important …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary week of Nov. 08,2009

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This week brings us the release of only two relevant economic reports but neither of them is considered to be highly important. There are two important Treasury auctions this week that may influence mortgage rates more than the minor economic data that is scheduled. It is also a holiday-shortened week with the bond market closed Wednesday in observance of the Veterans Day holiday.

Both of this week’s monthly economic reports will be…

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly. www.JeffDrew.StarMortgage.com

Boston Mortgage Rate Commentary 11-06

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Friday’s bond market has opened in positive territory following the release of weaker than expected employment figures. The stock markets are reacting relatively well to the news with the Dow up 10 points and the Nasdaq up 8 points. The bond market is currently up 8/32, which should improve this morning’s mortgage rates by approximately .250 of a discount point.

The Labor Department reported this morning that the U.S. unemployment rate spiked to 10.2% last month, reaching its highest level since April 1983. Analysts were expecting to see it move slightly to 9.9%. The number of …

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©Mortgage Commentary 2009

Massachusetts mortgage applicants: Please note that this information reflects just one opinion on the current market and should be used for informational purposes only. Today’s mortgage market is very volatile and can change very quickly.

House Passes Home Buyer Tax Credit Extension. Obama to Sign as Soon as Friday

House Passes Home Buyer Tax Credit Extension. Obama to Sign as Soon as Friday


The House of Representatives has voted to pass legislation extending the home buyer tax credit until April 30, 2009.
Last night the Senate voted 98-0 to pass the legislation. Next the bill will head to President Obama to be signed into law.
While the bill extends the $8,000 tax credit for first time home buyers, it also makes available a tax credit to homeowners who have lived in their current residence for at least five years. The credit for these buyers will be capped at $6,500.

Income levels will be extended from the current limits of $75,000 for a single purchaser and $150,000 for couples to $125,000 and $225,000 respectively. Above those limits there are diminishing credits available.

Housing interests, especially the National Association of Home Builders and the National Association of Realtors…
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Boston Mortgage Rate Commentary 11/05

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Thursday’s bond market has opened down slightly following another stock rally. The stock markets are showing strong gains with the Dow up 182 points and the Nasdaq up 42 points. The bond market is currently down 5/32, which will likely keep this morning’s mortgage rates near yesterday’s levels.

This morning’s release of the 3rd Quarter Productivity data gave us favorable results. It showed a spike in productivity of a 9.5% increase. This was…

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©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 11/4

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Wednesday’s bond market has opened in negative territory again as investors prepare for today’s FOMC news. Early stock gains are also contributing to this morning’s bond losses. The Dow is currently up 99 points while the Nasdaq has gained 14 points. The bond market is currently down 7/32, which will likely push this morning’s mortgage rates higher by approximately .125 of a discount point compared to yesterday’s morning rates.

There is no important economic data being released today. The Institute for Supply Management (ISM) said their services index fell last month, meaning that sentiment…

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©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 11-02

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Monday’s bond market has opened in negative territory due to early stock strength and stronger than expected economic news. The stock markets are starting the week with sizable gains. The Dow is currently up 104 points while the Nasdaq is showing a 15 point gain. The bond market is currently down 6/32, but we will likely see little change to this morning’s mortgage rates due to strength late Friday.

Today’s only relevant economic…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary week of Nov1

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

This week brings us the release of four relevant economic reports for the markets to digest with two of those reports being much more important than the other two. In addition to the factual reports, we also have another FOMC meeting to work around this week. This leads me to believe that we will see another active week for mortgage rates.

The first report comes late tomorrow morning when the Institute for Supply Management (ISM) will post their manufacturing index. The index measures manufacturer sentiment, which is important because it gives us an indication of…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 10/30/2009

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened in positive territory after this morning’s economic data failed to show any significant surprises and the stock markets opened with losses. Stocks are starting the next leg of their recent roller coaster ride with sizable losses. The Dow has given back over half of yesterday’s rally with a loss of 109 points so far. The Nasdaq is not fairing much better with a 20 point loss. The bond market is currently up 11/32, but I don’t believe we will see much of a change in this morning’s mortgage rates compared to yesterday’s morning rates due to weakness in bonds late yesterday.

The first of…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 10/29

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Thursday’s bond market has opened in negative territory after today’s important economic data gave us stronger than expected results. The stock markets are showing strength with the Dow up 86 points and the Nasdaq up 24 points. The bond market is currently down 15/32, but we will probably see little change in this morning’s mortgage rates due to strength in bonds late yesterday.

Today’s big news was the release of the preliminary reading of the 3rd Quarter Gross Domestic Product (GDP) that is considered to be the benchmark reading of economic activity. It showed a larger…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 10.28.2009

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Wednesday’s bond market has opened in positive territory again after this morning’s only economic report showed no surprises. A negative open for stocks is also helping bonds during early trading. The Dow and Nasdaq are both showing losses of 28 points. The bond market is currently up 10/32, which should improve this morning’s mortgage rates by approximately .250 - of a discount point.

The…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 10/27

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Tuesday’s bond market has opened in positive territory following the release of a much weaker than expected consumer confidence reading. The stock markets are mixed with the Dow up 57 points and the Nasdaq down 6 points. The bond market is currently up 14/32, which will likely improve this morning’s mortgage rates by approximately .250 - of a discount point.

The Conference Board said that their Consumer Confidence Index (CCI) for October fell to 47.7. This was much weaker than the 53.5 that was expected and indicates that consumers are less optimistic about their own financial situations than many had thought. That is favorable news for bonds and mortgage rates because it means that consumers are…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com

Boston Mortgage Rate Commentary 10/26

Monday’s bond market has opened well in negative ground following early stock gains. The stock markets are showing early strength with the Dow up 97 points and the Nasdaq up 27 points. This pushes the Dow above the important 10,000 benchmark level yet again, but its ability to hold that level has come up short during recent trading. It appears that until that level can hold, many analysts will remain skeptical of the recent stock rally. However, as stocks rise this morning, bonds are falling. The bond market is currently down 24/32, which will likely push this morning’s mortgage rates...



If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now...

Boston Mortgage Rate Commentary 10/23/09

Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!

Friday’s bond market has opened in negative territory again despite stock weakness during early trading. The stock markets are still unable to hold recent gains with the Dow down 90 points and again falling below the 10,000 benchmark. The Nasdaq is currently down 4 points. The bond market is down 13/32, which will likely push this morning’s mortgage rates higher by approximately .125 - .250 of a discount point.

Today’s only relevant economic news came from the National Association of Realtors who…

To read the rest of the story click on “mortgage”: mortgage



©Mortgage Commentary 2009

* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com