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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.