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.

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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $101.72
+3 bps (Prior Close – $101.69)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher from Friday's closing price. Bond prices are showing technical signs of being overbought and will likely start to head lower, which would make interest rates move higher.

Economic News: There will be another round of Treasury auctions this week, and as we have seen in the past, this creates volatility in the markets. Also, former Fed Chairman Alan Greenspan stated he believes unemployment will rise beyond 10%, he also advised against a second massive stimulus package for fear of the long-term negative consequences.

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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $101.69
-6 bps (Prior Close – $101.75)

Market Update: Mortgage Backed Security (MBS) pricing started out the morning with big gains but have since moved slightly lower from yesterday's closing price. Currently prices are showing technical trading signs of a reversal, which would cause interest rates to move higher.

Economic News: The Labor Department reported that 263,000 jobs were lost in September, which is quite a bit worse than what economist were expecting. In addition, the unemployment rate moved up to 9.8%. This news would normally be good for Bonds and bad for Stocks.

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.

Phoenix Home Mortgage Interest Rate Update and Recommendation Oct 1st, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $101.75
+50 bps (Prior Close – $101.25)

Market Update: Mortgage Backed Security (MBS) pricing is higher today from yesterday's close. The Stock market is currently in the red and worse than expected employment data was released earlier today.

Economic News: Initial Jobless Claims increased more than expected, indicating a continued decline in the labor market. The ISM Manufacturing Index also came in a little worse than expected. There was some good news released, as Pending Home Sales were reported far above expectations and Personal Spending for August rose at its fastest monthly pace in almost 8 years. The increase in Personal Spending is, in large part, due to the "Cash for Clunkers" program.

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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $101.34
+0 bps (Prior Close – $101.34)

Market Update: Mortgage Backed Security (MBS) pricing is unchanged today from yesterday's close. There were some big reports issued today and the Stock market is currently in the red. We don't think there will be a significant amount of volatility until Friday, when the Jobs Report is released.

Economic News: The monthly ADP report was released this morning showing higher losses in the job market than expected. Also in the news, the Chicago Purchasing Managers Index was released significantly lower than expected. In other economic headlines this morning, the Final Gross Domestic Product for the second quarter was revised for the better.

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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $101.38
+3 bps (Prior Close – $101.35)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher today from yesterday's close.

Economic News: Consumer Confidence for September was reported at 53.1 versus expectations of 57.0. This report is quite a bit lower than economist were expecting and shows the consumer isn't as optimistic, as Wall Street, about the economy. On the news, Stocks reversed lower, helping MBS improve from their worst levels today. Also today, the Case-Shiller Home Price Index came in better than expectations. The index showed 18 out of 20 large cities had month-over-month price improvements. This may indicate that that the worst of the housing price declines are behind us.

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.