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

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

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…

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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 week of Nov1

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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