Do you think housing sales will increase soon and do you know that the housing situation is near Las Vegas NV?
Mortgage rates are still quite low and there is some concern in the markets that bonds have been oversold which could lead to a drop off that might see rates increase in the future. Anyone who tells you that they know for certain what is going to happen with mortgage interest rates is blowing smoke. It is possible to predict trends but not certainties.
The Las Vegas market has been a strong market. I wouldn’t anticipate any drop off in prices in the predictable future.
I don’t believe they will go down any further. They are near a 40 year low now. It is causing housing sales to rise at least in the Northeast. My office had 4 closings yesterday, 4 today and 5 on Fri.
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An Agent
Mortgage rates are still quite low and there is some concern in the markets that bonds have been oversold which could lead to a drop off that might see rates increase in the future. Anyone who tells you that they know for certain what is going to happen with mortgage interest rates is blowing smoke. It is possible to predict trends but not certainties.
The Las Vegas market has been a strong market. I wouldn’t anticipate any drop off in prices in the predictable future.
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20+ years as a direct mortgage lender
Wednesday’s bond market has opened in positive territory as traders return to the markets. The stock markets are showing strong gains with the Dow up 102 points and the Nasdaq up 34 points. Bonds initially opened quite strong, but have since given back some of their earlier gains after today’s economic data showed stronger than expected results. The bond ma rket is currently up 7/32, which should improve this morning’s mortgage rates by approximately .250 of a discount point.
The Institute for Supply Management (ISM) said that their manufacturing index rose last month to 51.4. This was much stronger than the 50.0 that was expected, indicating that manufacturer sentiment was stronger than thought. This is bad news for bonds and mortgage rates because weak manufacturing activity eases inflation concerns.
This afternoon brings us the release of the minutes from the last FOMC meeting. This will give market participants insight to the Fed’s thinking and concerns regarding inflation and monetary policy. It may also help form opinions of the Fed’s future moves toward interest rates. It is one of those pieces of information that may cause a great deal of volatility in the markets or be a non-factor, depending on what the minutes show. They will be released at 2:00 PM ET, so they shouldn’t affect the markets or mortgage r ates until afternoon hours.
The Commerce Department will post November’s Factory Orders data late tomorrow morning, giving us an important measurement of manufacturing sector strength. This report is similar to the Durable Goods Orders release that was posted late last month, except this report includes orders for both durable and non-durable goods. Durable goods are items that are expected to last three or more years such as electronics and autos. Examples of non-durable goods are food and clothing. Analysts are expecting to see an increase of 1.4% in new orders. This report generally does not have a huge impact on the bond market or mortgage rates, but it can influence bond trading enough to create a small change in rates.
If I were considering financing/refinancing a home, I would…. Float if my closing was taking place within 7 days… Float if my closing was taking place between 8 and 20 days… Float if my closing was taking place between 21 and 60 days. .. Float if my closing was taking place over 60 days from now… This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.
References :
http://www.azspotlighthomes.com
http://www.martellmortgage.com
They’re less than six percent!
How low do you want them to be?
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