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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.