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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $101.16
+3 bps (Prior Close – $101.13)

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

Economic News: This will be a very active week in the markets and mortgage rates. The most important day will be Friday due to the employment report being released, but Tuesday's and Thursday's data can also fairly heavily influence mortgage rates. There is nothing of importance scheduled for release today, so look for the Stock market to influence bond trading and mortgage rates.

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 25th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $101.03
+9 bps (Prior Close – $100.94)

Market Update: Mortgage Backed Security (MBS) pricing is currently higher today from yesterday's close. The market opened slightly lower but has been improving as Stocks are declining.

Economic News: Durable Goods Orders for August unexpectedly dropped 2.4% for the largest decline since January. Durables Goods are defined as orders for goods that last 3 years or more, like flat screen TV's, furniture and appliances. Additionally, New Home Sales for August were reported only slightly lower than expectations. However, the report showed some signs of an improving market as the inventory of unsold homes dropped to its lowest level since January 2007. This report is likely due to less construction from new home builders as opposed to increased demand.

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 Sept 24th, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $100.94
+28 bps (Prior Close – $100.66)

Market Update: Mortgage Backed Security (MBS) pricing is higher today.

Economic News: Initial Jobless Claims came in below expectations. Bonds worsened initially, but moved back to positive territory. Existing Home Sales were also reported less than expected. However, the inventory of unsold homes fell to the lowest inventory level since April 2007.

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 23rd, 2009 - FLOAT or LOCK?

Current Pricing of FNMA 30 Year 4.5% Bond: $100.50
-6 bps (Prior Close – $100.56)

Market Update: Mortgage Backed Security (MBS) pricing is slightly lower this morning from yesterday's close.

Economic News: There are no economic reports due for release today, but the Fed will end its meeting this afternoon with the release of its Monetary Policy Statement. We don't think the Fed will change the Fed Funds Rate, but the markets will be looking for comments about the bottoming of the recession and the continued MBS purchase 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.

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

Current Pricing of FNMA 30 Year 4.5% Bond: $100.56
+9 bps (Prior Close – $100.47)

Market Update: Mortgage Backed Security (MBS) pricing is slightly higher this morning after yesterday afternoon's sell off. Bonds will once again take direction from the Stock market today.

Economic News: There are no economic reports due for release today. The Federal Reserve starts it's 2-day meeting today with the official FOMC statement coming on Wednesday afternoon about interest rates. The results for the $43 Billion 2-Year Treasury Note auction will also be released this afternoon.

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.