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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.