Thursday, December 31, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 31st, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $99.84
-9 bps (Prior Close – $99.93)

Market Update: Mortgage Backed Security (MBS) pricing is slightly lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to roughly .125% of your loan amount in order to obtain the same rate available yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

Economic News: Pushing Bonds down early this morning was the Initial Jobless Claims report, which came in well below estimates and at the lowest reading since July 2008.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Wednesday, December 30, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 30th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $99.94
+12 bps (Prior Close – $99.82)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. For a consumer, this translates into an upfront fee decrease equivalent to roughly .125% of your loan amount in order to obtain the same rate available yesterday for a home loan. An increase in bond prices causes home loan rates and/or fees to decrease.

Economic News: The Treasury auction results have been average, at best, but the market was expecting disappointment, so Bond prices have been increasing this week.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Monday, December 28, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 28th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $99.47
-34 bps (Prior Close – $100.03)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from last week's close. For a consumer, this translates into an upfront fee increase equivalent to roughly .375% of your loan amount in order to obtain the same rate available last week for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

We're still taking the float approach on slightly longer term (20-25 day) transactions. The market has been oversold but look for rates to start moving up with the ending of the Fed MBS purchase program.

Economic News: There are no economic reports due out today, and in fact, the entire week is fairly slow with only a handful of reports scheduled for release.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Thursday, December 24, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 24th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $99.81
-22 bps (Prior Close – $100.03)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to roughly .25% of your loan amount in order to obtain the same rate available yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

We're still taking the float approach on slightly longer term (20-25 day) transactions. The market has been oversold but look for rates to start moving up with the ending of the Fed MBS purchase program.

Economic News: Initial Jobless Claims were reported better than expectations, and Durable Goods Orders rose in November.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Wednesday, December 23, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 23rd, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $100.16
+16 bps (Prior Close – $100.00)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. For a consumer, this translates into an upfront fee decrease equivalent to roughly .125% of your loan amount in order to obtain the same rate available yesterday for a home loan. An increase in bond prices causes home loan rates and/or fees to decrease.

Economic News: The Core Personal Consumption Expenditure Index, which measures inflation, was reported lower than expectations. Personal Spending and Personal Income were also reported lower than analysts expected. The Personal Savings rate remained steady, showing Americans are still saving their money. New Home Sales surprised to the downside, following the strong Existing Home Sales print yesterday. The New Home Sales miss, combined with the tame inflation data likely helped bond prices this morning.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Tuesday, December 22, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 22nd, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $99.64
-62 bps (Prior Close – $100.26)

Market Update: Mortgage Backed Security (MBS) pricing is significantly lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to .625% of the loan amount in order to obtain the same rate available yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

Economic News: Existing Home Sales were reported slightly higher than expected and the inventory of unsold homes fell to a 6.5-month supply. Overall, this is a good news, but likely due to the perceived ending of the Homebuyer Tax Credit.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Monday, December 21, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 21st, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $100.72
-50 bps (Prior Close – $101.22)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from Friday's close. For a consumer, this translates into an upfront fee increase equivalent to .50% of the loan amount in order to obtain the same rate available Friday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

Economic News: There are no economic reports due out today, but the rest of the week will be filled with reports due out through Thursday. Also, on Wednesday the Treasury Department will announce next week's Treasury auctions, which have added volatility in the past.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Thursday, December 17, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 17th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.50
+59 bps (Prior Close – $100.91)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. For a consumer, this translates into an upfront fee decrease equivalent to more than .50% of the loan amount in order to obtain the same rate available yesterday for a home loan. An increase in bond prices causes home loan rates and/or fees to decrease.

We've had a floating bias since the major price deterioration over the last week. Pricing has improved dramatically and rates/fees should continue to move lower.


Economic News: Initial Jobless Claims rose higher than expected.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Wednesday, December 16, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 16th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $100.91
+6 bps (Prior Close – $100.85)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher today from yesterday's close. For a consumer, this translates into an upfront fee decrease equivalent to .06% of the loan amount in order to obtain the same rate available yesterday for a home loan. An increase in bond prices causes home loan rates and/or fees to decrease.

We've had a floating bias since the major price deterioration over the last week. Pricing hit levels of support yesterday and rates/fees should continue to move lower.


Economic News: Consumer Price Index (CPI) was reported in line with expectations, signaling that inflation remains low for the moment. Housing Starts for November were also in line with estimates while Building Permits, which are a leading indicator of housing construction, reached the highest level seen in the past year.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Tuesday, December 15, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 15th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $100.84
-25 bps (Prior Close – $101.21)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to .25% of the loan amount in order to obtain the same rate available yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

We've had a floating bias since the major price deterioration over the last week. Pricing hit levels of support today so we should see a move down in rates unless inflationary news continues to spook the market.


Economic News: Producer Price Index, which measures wholesale inflation, came in significantly higher than expected. The Empire State Index of manufacturing in New York showed the largest monthly decline on record in December. Industrial Production came in a bit higher than expected, rising in November by the most in three months.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Monday, December 14, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 14th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.09
-12 bps (Prior Close – $101.21)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from Friday's close. For a consumer, this translates into an upfront fee increase equivalent to .125% of the loan amount in order to obtain the same rate available on Friday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.


Economic News: There are no economic reports due for release today, but the rest of the week is loaded up with reports, including the Fed Meeting and Monetary Policy Statement on Wednesday.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Friday, December 11, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 11th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.09
-22 bps (Prior Close – $101.31)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to .25% of the loan amount in order to obtain the same rate available on yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

The market had significant deterioration this week. Treasury auctions are flooding the market with supply, so we are taking a locking approach to all new transactions.

Economic News: Retail Sales came in much higher than expected.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Thursday, December 10, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 10th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.59
-28 bps (Prior Close – $101.87)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to .25% of the loan amount in order to obtain the same rate available on yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

The market had significant deterioration yesterday, which caused us to lock our clients mid-day. Treasury auctions are flooding the market with supply, so we are taking a locking approach to all new transactions.

Economic News: Initial Jobless Claims came in worse than expected at 474,000 versus 455,000 estimated. Continuing Jobless Claims fell to the lowest level since February.

Recommendation: LOCK

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Wednesday, December 9, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 9th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.91
-12 bps (Prior Close – $102.03)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. For a consumer, this translates into an upfront fee increase equivalent to .125% of the loan amount in order to obtain the same rate available on yesterday for a home loan. A decrease in bond prices causes home loan rates and/or fees to increase.

Economic News: There are no economic reports for release today, and the calendar for the rest of the week is light with news. Bond trading could be volatile when the results of this week’s Treasury auctions are announced.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Tuesday, December 8, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 8th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $102.12
+31 bps (Prior Close – $101.81)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. Yesterday, Federal Reserve Chairman Ben Bernanke said interest rates and inflation will remain low, and the economic recovery faces “formidable headwinds.” Bernanke's speech gave investors enough uncertainty to pull money from Stocks, Gold and Oil thus parking their money in Bonds. From Friday, MBS have increased 59 bps in price. For a consumer, this translates into an upfront fee reduction equivalent to .50% of the loan amount in order to obtain the same rate available on Friday for a home loan. An increase in bond prices causes home loan rates and/or fees to decrease.

Economic News: There are no economic reports for release today, and the calendar for the rest of the week is light with news. Bond trading could be volatile when the results of this week’s Treasury auctions are announced.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Monday, December 7, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Dec 7th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.81
+28 bps (Prior Close – $101.53)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from Friday's close. After 6 days of price declines, MBS are improving today. An increase in bond prices causes home loan rates to decrease. From Friday, MBS have gained 28 bps. For a consumer, this translates into a reduction of cost of .25% to obtain the same rate available on Friday for a home loan.

Economic News: There are no economic reports for release today, and the calendar for the rest of the week is light with news. Bond trading could be volatile when the results of this week’s Treasury auctions are announced.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Friday, December 4, 2009

FLOAT or LOCK? Phoenix Home Mortgage Update and Recommendation - Dec 4th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.28
-53 bps (Prior Close – $101.81)

Market Update: Mortgage Backed Security (MBS) pricing is significantly lower today from yesterday's close. Bond prices fell this morning after a very unexpected Jobs Report was released for the month of November. A decline in bond prices causes home loan rates to increase. We've mentioned the market looks very overbought in the last several weeks and a sharp decline in prices weren't much of a surprise. From the market highs, MBS have lost over 125 bps. For a consumer, this translates into an additional cost of 1.25% to obtain the same rate available on Monday for a home loan.

Economic News: The Labor Department reported that only 11,000 jobs were lost in November, far fewer than the 125,000 job losses that were expected. There was also more good news for the U.S. when the Unemployment Rate improved to 10.0%, down from last month's reading of 10.2%.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

For further clarification on the pricing of mortgages, click here.

Thursday, December 3, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Dec 3rd, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.81
-25 bps (Prior Close – $102.06)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. Bond prices dropped continuing to decline rapidly. A decline in bond prices causes home loan rates to increase.

Economic News: Initial Jobless Claims were reported below expectations and at the lowest level in 14 months. Continuing Claims, however, are on the rise. The rise in Continuing Claims is more probably due to the unemployment claims extension that was recently passed.

Recommendation: LOCK

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

For further clarification on the pricing of mortgages, click here.

Wednesday, December 2, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Dec 2nd, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $102.16
-3 bps (Prior Close – $102.19)

Market Update: Mortgage Backed Security (MBS) pricing is nearly unchanged today from yesterday's close. Bond prices dropped pretty hard yesterday, most of the price decline was after we issued our daily recommendation calling for locking rates.

Economic News: The ADP Employment Report showed a loss of 169,000 private sector jobs in November. This report showed the least amount of job losses ADP has reported since July 2008, and it does mark 22 consecutive months of jobs lost. It is also worth noting that the ADP Jobs Report has not caught on as a reliable measure of economic activity. It is still a fairly new indicator and is not yet looked upon as one of the major indices.

Recommendation: FLOAT

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation won't apply in all situations, so if you have questions please contact us for clarification. Also, if you're considering purchasing or refinancing and you would like us to arrange your financing please contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

For further clarification on the pricing of mortgages, click here.

Tuesday, December 1, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Dec 1st, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $102.47
-15 bps (Prior Close – $102.62)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. Bonds appear to be headed lower in price (rates moving higher) as credit concerns from Dubai have faded. The U.S. Dollar is showing weakness, yet again, as Stocks, Oil, and Gold are all moving higher.

Economic News: Pending Home Sales report came in better than expected, and the Institute of Supply Manager's Index was reported slightly lower than expected. Bonds had little reaction to either report.

Recommendation: LOCK

If you're considering purchasing or refinancing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Monday, November 30, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 30th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $102.62
+12 bps (Prior Close – $102.50)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from Friday's close. Bonds are higher from last week's news that the country of Dubai needed extra time to make their debt payments. Nervous investors rushed into the safe-haven of Treasuries and Mortgage Backed Securities.

Economic News: The infamous "Black Friday" shopping day came and went and the early numbers show the shopping traffic is up, but the dollars spent per shopper may be down. I asked my 10-year old daughter why she thought it was called "Black Friday" and she said, "Because we have to get up to go shopping when it's still dark out". Very logical. This Thursday brings the announcement of the next round of Treasury auctions. The auctions include longer term maturities, such as 10- and 30-years which compete with Mortgage Bonds, so this will be especially important to watch.


Recommendation: FLOAT

If you're considering purchasing or refinancing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Tuesday, November 24, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 24th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $102.22
+22 bps (Prior Close – $102.00)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. Bonds (including MBS) are benefiting from the carry trade, where investors borrow money at a low rate then leverage that money into high yielding investments.

Economic News: Preliminary Gross Domestic Product (GDP) reading for the 3rd Quarter was reported in line with expectations, while Consumer Confidence was reported slightly better than expected. Also, the Federal Housing Finance Agency reported a slight rise in U.S. home prices in the 3rd quarter. The Phoenix-Mesa-Scottsdale area seems to be leveling off, showing only a -5.50% drop. Click here to view the full report.

Recommendation: FLOAT

If you're considering purchasing or refinancing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Monday, November 23, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 23th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.78
+0 bps (Prior Close – $101.78)

Market Update: Mortgage Backed Security (MBS) pricing is unchanged today from Friday's close. The Stock market is showing very nice gains this morning and this will probably limit the potential for lower home loan rates.

Economic News: Existing home sales were reported much higher today, beating analysts expectations. The inventory of unsold homes also hit it's lowest level in more than 2 years. These reports are good signs for the current housing market.

Recommendation: LOCK

If you're considering purchasing or refinancing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Friday, November 20, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 20th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.78
+12 bps (Prior Close – $101.66)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. Even though prices are slightly higher, we are still recommending a locking bias. We feel there is significantly more risk to float versus locking. A decrease in Bond prices will result in higher home financing rates for borrowers.

Economic News: There are no economic reports due for release today. The Federal Reserve purchased $16 Billion in MBS last week, bringing the total to $1.023 Trillion out of the $1.25 Trillion allotted for the program. The MBS purchase program is scheduled to end in the first quarter of 2010.

Recommendation: LOCK

Contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

On another note, I just wanted to wish my daughter, Kelli Krushinsky, a Happy 10th Birthday.

Thursday, November 19, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 19th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.66
-3 bps (Prior Close – $101.69)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. Once again, we are still recommending a locking bias as there is significantly more risk to float versus locking. A decrease in Bond prices will result in higher home financing rates for borrowers.

Economic News: Initial Jobless Claims met expectations, and Continuing Jobless Claims fell by 39,000. The drop is likely due to benefits expiring, rather than people finding jobs. The Treasury Department also announced next week's auctions will bring $44 Billion in 2-year Notes, $42 Billion in 5-year Notes, and $32 Billion in 7-year Notes. Not bad, only $118 Billion for two weeks.

Recommendation: LOCK

Contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Wednesday, November 18, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 18th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.66
-9 bps (Prior Close – $101.75)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. Once again MBS prices look to be poised to go lower and there is significantly more risk to float versus locking. A decrease in Bond prices will result in higher home financing rates for borrowers.

Economic News: Consumer Price Index, which measures consumer inflation, showed some signs of inflation at the consumer level. Also in the news, Housing Starts and Building Permits came in weaker than expected.

Recommendation: LOCK

Contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Tuesday, November 17, 2009

FLOAT OR LOCK? Daily Market Update and Recommendation - Nov 17th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.91
+3 bps (Prior Close – $101.88)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher today from yesterday's close. From a technical analysis stand-point, MBS prices look to be at the top of the current trading range and there is significantly more risk to float versus locking. A decrease in Bond prices will result in higher home financing rates for borrowers.

Economic News: Producer Price Index for October, which measures wholesale inflation, was reported lower than expected. This is good news for Bonds and indicates there is no fear of inflation currently. Also in the news, Capacity Utilization and Industrial Production were reported essentially in line with expectations.

Recommendation: LOCK

Contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com to find out how to take advantage of today's best loan rates.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Monday, November 16, 2009

FLOAT or LOCK? Phoenix Home Mortgage Interest Rate Update and Recommendation - Nov 16th, 2009


Current Pricing of FNMA 30 Year 4.5% Bond: $101.88
+12 bps (Prior Close – $101.76)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from Friday's close. From a technical analysis stand-point, MBS prices look to be at the top of the current trading range. A drop in Bond prices will result in higher home financing rates for borrowers.

Economic News: October Retails Sales were weak overall, but higher auto sales helped the headline number. Today, Fed Chairman Ben Bernanke will be speaking on the economy. There could be significant volatility in the Stock and Bond markets depending on Bernanke's statements about short-term interest rates and eventually removing economic stimulus.

Recommendation: LOCK

To take advantage of today's low home prices and attractive mortgage rates, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Friday, November 13, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 13th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.72
+22 bps (Prior Close – $101.50)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. We made the wrong call yesterday on locking, but still feel like the market is overpriced. The Federal Reserve stepped in and bought more MBS yesterday afternoon, which helped with a poor 30-Year Treasury Bond auction. After a sharp sell-off, we changed our recommendation to a locking bias. We still feel it is prudent to take a conservative approach over the next few months. With Bond prices higher, home mortgage interest rates are slightly lower for borrowers.

Economic News: Consumer Sentiment came in lower than expectations at 66.0 versus 71.0 estimated.

Recommendation: FLOAT

To take advantage of today's low home prices and best loan rates, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Thursday, November 12, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 12th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.22
+0 bps (Prior Close – $101.22)

Market Update: Mortgage Backed Security (MBS) pricing is unchanged today from yesterday's close. The $16 Billion of 30-year Treasury Bonds had poor auction results, which is spooking investors and causing inflationary fears. With Bond prices unchanged, home mortgage interest rates remain the same for borrowers.

Economic News: Weekly Initial Jobless Claims came in at 502,000 versus 510,000 consensus estimate. This report means, over half a million people per week are still losing their jobs.

Recommendation: LOCK

To take advantage of today's low home prices and best loan rates, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Tuesday, November 10, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 10th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.31
+22 bps (Prior Close – $101.09)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. The Stock market is coming under some pressure today from the recent 2-day rally and Bonds will likely be the beneficiary. With Bond prices increasing, this lowers home mortgage interest rates for borrowers.

Economic News: There are no economic reports today but there is plenty of supply hitting the market from the Treasury auctions announced last week. Most of the recent Treasury auctions have been well received, with plenty of foreign participation. For the time being, this has helped keep long-term interest rates at their current levels. How long this support continues remains to be seen.

Recommendation: FLOAT

To take advantage of today's low home prices and best loan rates, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars over the life of your new mortgage. Our recommendation doesn't apply to all borrowers, so if you have questions please contact us directly.

Monday, November 9, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 9th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.41
+12 bps (Prior Close – $101.29)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from Friday's close. With Bond prices increasing, this lowers mortgage interest rates for borrowers financing a home.

Economic News: There are no economic reports today but there is plenty of supply hitting the market from the Treasury auctions announced last week. This added supply to the market could weigh on Bond prices.

Recommendation: FLOAT

For information on home financing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan or refinancing, please contact us directly.

Friday, November 6, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 6th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.28
+22 bps (Prior Close – $101.06)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. MBS prices are up on the day which drives home mortgage interest rates lower.

Economic News: Some volatility today, as the market digests worse than expected Unemployment data. Non-farm Payrolls came in at -190,000 vs. the expected -175,000. The Unemployment Rate jumped to 10.2% from 9.8%, well above the 9.9% forecast by economists. Economic data like this will certainly have many expecting rates to stay lower, longer.

It's official. President Obama has signed a bill that extends the tax credit for first-time homebuyers into the first half of 2010. This program had been scheduled to expire on November 30, 2009. In addition to extending the tax credit of up to $8,000 through June 30, 2010, the extension measure also opens up opportunities for others who are not buying a home for the first time.

Recommendation: FLOAT

For information on home financing, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan or refinancing, please contact us directly.

Thursday, November 5, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 5th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.09
+21 bps (Prior Close – $100.88)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. Yesterday, the Federal Reserve issued its Policy Statement but there with no real surprises. MBS prices are up on the day which drives home mortgage interest rates lower.

Economic News: Productivity came in much higher than expected at 9.5% vs. the 6.5% increase estimated. Initial Jobless Claims posted 512,000 vs. the 522,000 expected. The Stock market is rallying again today on this data and a follow-through on yesterday's rally. Tomorrow's Jobs Report will probably indicate continued weakness in the labor market, with the unemployment rate likely exceeding 10%.

Recommendation: FLOAT

For information on purchasing or refinancing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Wednesday, November 4, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 4th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.78
-3 bps (Prior Close – $100.81)

Market Update: Mortgage Backed Security (MBS) pricing opened nearly unchanged today from yesterday's close. Traders are anxiously awaiting the statement being released today from the Federal Reserve on interest rates and current Policy Statement. With MBS prices flat, home mortgage interest rates remain unchanged. Today's trading could be especially volatile so we're taking the conservative approach and recommending protecting your interest rate.

Economic News: The House of Representatives approved legislation to extend and expand the $8,000 tax credit for first time homebuyers. The tax credit is not a done deal, however, a bill may reach President Obama for his signature by the end of this week. Also in the news, the Treasury announced this morning $81 Billion in Treasuries will be auctioned off next week. This will probably drag MBS prices lower, since MBS compete with Treasuries for investment dollars.

Recommendation: LOCK

For information on purchasing or refinancing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Tuesday, November 3, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 3rd, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.81
-13 bps (Prior Close – $100.94)

Market Update: Mortgage Backed Security (MBS) pricing opened lower today. Bond prices are currently trading above key technical support levels. With MBS prices moving lower, home mortgage interest rates move higher.

Economic News: There are no economic reports being released today. Although, the Federal Reserve begins its 2-day Federal Open Market Committee meeting this morning. The Fed will release a public statement tomorrow afternoon on their assessment of the economy. The markets will look to see if the Fed mentions when they will begin removing the accommodative policy and begin to hike rates.

Recommendation: FLOAT

For information on purchasing or refinancing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Monday, November 2, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Nov 2nd, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.09
-9 bps (Prior Close – $101.18)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from Fridays close. Bonds are taking a little breather today as Stocks are higher on positive economic data. With MBS prices moving lower, Phoenix home mortgage interest rates move higher.

Economic News: The Institute of Supply Manager's Manufacturing Index rose to 55.7 versus expectations of 53.0. Within the report was an improved reading on employment, suggesting businesses in the manufacturing sector may be hiring. There are several important events this week, including the Fed Meeting and Monetary Policy Statement on Wednesday, the Jobs Report with unemployment rate data on Friday, and an expected final vote on the extension of the first-time homebuyer tax credit.

Recommendation: FLOAT

For information on purchasing or refinancing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Friday, October 30, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 30th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.12
+34 bps (Prior Close – $100.78)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterdays close. Bonds are higher today as the Stock market is in free-fall. The Treasury Department's record $123 Billion in auctions are completed, which is also giving Bonds a lift today. With MBS prices moving higher, home mortgage interest rates move lower.

Economic News: Personal Income was reported unchanged in September, while Consumer Spending fell 0.5%. Also in the news, some encouraging reports came from release of the Chicago PMI and the Michigan Consumer Sentiment, which both came in better than expectations with mildly positive numbers.

Recommendation: FLOAT

For information on purchasing or refinancing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

The decision to float or lock your interest rate can save, or cost, you thousands of dollars in upfront fees. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Thursday, October 29, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 29th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.91
-25 bps (Prior Close – $101.16)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from the previous days close. Bond prices are likely lower today in anticipation of poor foreign participation results for the $31 Billion 7-year Treasury auction. With MBS prices moving lower, home mortgage interest rates move higher.

Economic News: Gross Domestic Product rose higher than estimated for the first gain in a year and the strongest reading in two years. Technically, this signals an end to the current economic recession. However, that number is likely inflated by the recent "Cash for Clunkers" and $8,000 first-time homebuyer programs. Also today, Initial Jobless Claims were reported "less bad" than expected, and Continuing Jobless Claims fell to a 7-month low. The "less bad" number reported is probably due to unemployment benefits expiring as opposed to people actually finding jobs.

Recommendation: FLOATING CAUTIOUSLY

For information on home loan refinancing or purchasing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

In order to receive the best home loan rates, knowing when to float or lock your interest rate is crucial. Our recommendation doesn't apply to all scenarios, so if you have questions about your Phoenix home loan, please contact us directly.

Tuesday, October 27, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 27th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.66
+41 bps (Prior Close – $100.25)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterdays close. MBS prices are up after the announcement of a well-received auction of $44 Billion in 2-year Treasury Notes. With MBS prices moving higher today, Phoenix home mortgage interest rates move lower.

Economic News: Consumer Confidence came in worse than expected at 47.7 vs. 53.5 estimated by economists. The weak labor market is undoubtedly the cause for lower consumer confidence. Also in the news, the Senate could be voting as early as tonight to extend the $8,000 First Time Homebuyer tax credit. If this bill is passed, it will then go to the House on Thursday for approval.

Recommendation: FLOAT

For information on home loan refinancing or purchasing your home, contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

In order to receive the best home loan rates, knowing when to float or lock your interest rate is crucial. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Monday, October 26, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 26th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.50
-9 bps (Prior Close – $100.59)

Market Update: Mortgage Backed Security (MBS) pricing is lower today, as Bonds continue to follow through from Friday's weakness. The Fed’s $300 Billion Treasury buyback program comes to an end this Thursday. Without the Fed buying Treasuries, which provides demand for the massive supply hitting the market, rates will continue to move higher. This also causes home mortgage interest rates to move higher, as investors will demand a higher return for added risk to their investment dollar.

Economic News: There are no economic reports due to be released today, but later this week we'll have reports on housing, consumer confidence, economic growth, inflation and the job market. In addition, this will be another week of massive Treasury auctions.

Recommendation: LOCK

For information on home loan refinancing or purchasing your home contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

When getting a new mortgage on your home, it's critical to consider when to float or lock your interest rate. Our recommendation doesn't apply to all scenarios, so if you have questions about your home loan, please contact us directly.

Friday, October 23, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 23rd, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.78
-19 bps (Prior Close – $100.59)

Market Update: Once again Mortgage Backed Security (MBS) pricing is lower today after yesterday's close. Selling pressure is weighing on the Bond market, as central banks indicate that inflation is coming and it may be time to begin global rate hikes. With all of the deficit spending, bail-outs, tax credits and government intervention the fear of inflation is growing everyday. This isn't going to be easy and may prove to be even more difficult than the economic recovery. Watch for continued chatter of rate hikes to put downward pressure on MBS prices. With MBS prices moving lower, home mortgage interest rates move higher.

Economic News: Today provided some encouraging news on the national housing front. Existing Home Sales came in better than expected, at 5.57M vs. the expectation of 5.35M. Inventory levels shrunk to a 7.8 month supply, down from a recent high of 10.1 in April. This is likely due to first time homebuyers who would have purchased in 2010 purchasing now, due to the expiring first time homebuyer tax credit. The $8,000 tax credit is set to expire on November 30th, 2009.

Recommendation: LOCK

For information on home loan refinancing or purchasing your home contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

When getting a new mortgage on your Phoenix home, it's critical to consider when to float or lock your interest rate. Our recommendation doesn't apply to everyone, so if you have questions, please contact us directly.

Thursday, October 22, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 22nd, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.72
-9 bps (Prior Close – $100.81)

Market Update: Mortgage Backed Security (MBS) pricing is starting the day lower today after yesterday's close. Selling pressure was provided by the massive amount of debt being auctioned by the Treasury Department. The Treasury announced that it would auction $123 Billion in Treasury Bonds, made up of 2,5 and 7 year Notes, along with some 5 year TIPS (Treasury Inflation Protected Securities). This means our government needs to borrow $123B, and that just gets us through two weeks. These are without a doubt, unprecedented times. With MBS prices moving slightly lower, Phoenix home financing interest rates move higher.

Economic News: Initial Jobless Claims rose more than expected. In addition, the number of individuals continuing to receive unemployment benefits fell to the lowest level since March, but this is likely the result of current unemployment benefits expiring, without beneficiaries having been able to find jobs.

Recommendation: FLOAT

For information on home loan refinancing or purchasing your home contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Wednesday, October 21, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 21st, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $100.75
-12 bps (Prior Close – $100.87)

Market Update: Mortgage Backed Security (MBS) pricing is starting the day lower today after yesterday's close. Selling pressure was provided by worldwide chatter on tightening monetary policy and seemingly improving earnings in the financial sector. Also weighing on rates is the realization that the FED will cease its $300B Treasury bond buying operations at month-end. The FEDs purchase of Treasury Securities has had some impact on Bond yields, influencing rates throughout the globe. The FED will continue to manipulate the mortgage bond market though, at least for now. With MBS prices moving slightly lower, home financing interest rates move higher.

Economic News: There are no economic reports due for release today. MBS are likely taking direction from inflationary fears and the ending of FED intervention in the Bond markets.

Recommendation: FLOAT

For information on home loan refinancing or purchasing your home contact The Krushinsky Team at 602-695-7575 or email david.krushinsky@wjbradley.com.

Tuesday, October 20, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 20th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.00
+21 bps (Prior Close – $100.79)

Market Update: Mortgage Backed Security (MBS) pricing is starting the day higher today after yesterday's close. Bonds pricing is up on the release of weaker housing numbers and tame wholesale inflation. With Bond prices moving slightly higher, home mortgage interest rates move lower.

Economic News: Housing Starts and Building Permits both came in under analysts expectations. Also in the news, the Producer Price Index, which measures wholesale inflation, unexpectedly fell due to a drop in energy prices. Oil and natural gas have had significant price increases lately, so we'll have to watch wholesale inflation closely.

Recommendation: FLOAT

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

Tuesday, October 13, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 13th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.12
+22 bps (Prior Close – $100.90)

Market Update: Mortgage Backed Security (MBS) pricing is starting the day higher today after Friday's sharp decline. Bonds will look to take direction from the Stock market today, as there are no economic reports being released. With Bond prices moving slightly higher, home mortgage interest rates will move lower.

Economic News: There are no economic reports being released today.

Recommendation: FLOAT

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

Friday, October 9, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 9th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.34
-47 bps (Prior Close – $101.81)

Market Update: Mortgage Backed Security (MBS) pricing is significantly lower today from yesterday's close. Our recommendation all week has been a locking-bias, as MBS have shown technical signs of being overbought. Yesterday's 30-year Treasury Bond auction was so poorly received, it has caused selling pressure to carry forward to today's trading. With Bond prices heading lower, this causes home mortgage interest rates to move higher.

Economic News: There is no economic news for release today. The Bond market will be closed Monday in observance of Columbus Day.

Recommendation: LOCK

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

Thursday, October 8, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 8th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.75
-15 bps (Prior Close – $101.90)

Market Update: Mortgage Backed Security (MBS) pricing is lower today from yesterday's close. MBS have been showing technical signs of being overbought. Prices have been unable to make a convincing move higher, thanks to recent Treasury auctions and a continued Stock market improvement. With Bond prices heading lower, this drives home mortgage interest rates to higher.

Economic News: Weekly Jobless Claims came in lower than expected, although not by much. The Stock market is in rally mode again today on strong earnings, a weakening dollar, and not-so-bad Initial Claims. Yesterday's 10-year Treasury Note auction was strong, but today's 30-year Bond showing was not so great, getting graded a "C".

Recommendation: LOCK

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

Wednesday, October 7, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 7th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.78
+16 bps (Prior Close – $101.62)

Market Update: Mortgage Backed Security (MBS) pricing is up today from yesterday's close due to a weak stock market, a strong dollar, and the FED buying up bonds ahead of the 10-year Treasury auction. With Bond prices heading higher, this causes home mortgage interest rates to move lower.

Economic News: Additional Bond supply is hitting the market today, as the Treasury will auction off $20 Billion in 10-year Notes. Yesterday's 3-year Note auction was not received very well, so Traders will be watching today's auction for signs of buying.

Recommendation: FLOAT

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.

Tuesday, October 6, 2009

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 6th, 2009 - FLOAT or LOCK?


Current Pricing of FNMA 30 Year 4.5% Bond: $101.62
-9 bps (Prior Close – $101.71)

Market Update: Mortgage Backed Security (MBS) pricing is lower this morning from yesterday's closing price. Like yesterday's update, Bond prices are still showing technical signs of heading lower, which would make home loan interest rates move higher.

Economic News: The Reserve Bank of Australia unexpectedly raised the country's benchmark interest rate, stating they felt it was safe to start cutting back on economic stimulus. This would normally be good news for Bonds because raising interest rates keeps inflation low. However, this caused pressure on the dollar, raising commodity prices and the Stock market.

Recommendation: FLOAT

For information on purchasing or refinancing your home loan contact The Krushinsky Team at 623-594-7600 or email david.krushinsky@wjbradley.com.