This is my daily advice for floating or locking your Delaware Mortgage Rate for Wednesday, November 19, 2008.

Mortgage Backed Securities (MBS) has been trading in a tight range for the last week.  We have been holding above the 200 days moving average this week which is a good level of support but we also haven’t been able to move any higher, we keep bouncing down off a tough level of resistance.  When MBS breaks out of this tight trading range will probably see a big movement either up or down (hopefully up for so we get lower rates). Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Friday, November 14, 2008.

The mortgage bond sold off yesterday as the stock market rallied and we saw profit taking in the bond closed down some 34 bps. Mortgage lenders re-priced for the worse at the end of the day. Oil also jumped up to $59 a barrel. Today we are seeing Mortgage Bonds open higher than they closed yesterday as stock market points to lower open.

Retail sales report is worse than expected but consumer sentiment is better than expected. Stocks are trying to rally on the news as I write this and Mortgage Backed Securities are moving lower. If you didn’t lock yesterday than you are going to probably see worse rates today when lenders come out with pricing because the bond is selling off. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage for Thursday, November 13, 2008.

The mortgage bond market had a nice rally on Wednesday but has reached a tough resistance for moving any higher. We have opened slightly lower than yesterday’s going out level and stocks are rallying today which is moving money out of bonds into stocks and we are also seeing some profit-taking.

My recommendation is to LOCK your Delaware Mortgage Rate for Thursday, November 13, 2008.  You want to lock in your rate if you are closing in the next 2 weeks as it is going to be tough in the short term to break above this tough resistance for the bond. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, November 12, 2008.

Mortgage bonds are trading higher this morning as stocks are down 300 points on bad retail reports and Circuit City closing 150 stores.  Best Buy has also warned of falling profits on bad sales Oil price per barrel is falling again and is around $56 a barrel.

The bond has broken above the 200-day moving average which is good news if we can close above the 200 days moving average.  If the bond can hold may see better pricing later today for mortgage rates. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Wednesday, November 5, 2008.

We elected a new president yesterday.  Barak Obama will be the 44th president of the United States of America. Mortgage Bonds had one of their best days ever jumping 122 bps yesterday in a very impressive rally.  When mortgage bonds go up rates go down so that was going news for rates.  Mortgage bonds are up again about 22 bps this morning. Treasuries are trading lower but MBS (mortgage-backed securities) are trading higher as the spread tightens. US stocks are pointing to a lower open today as the European Stock market trader lower last night. Oil is trading down after rallying yesterday on OPEC’s cut in production. Keep Reading...

This is my daily advice on floating or locking your Delaware Mortgage Rate for Tuesday, November 4, 2008.

It is election day and we will be picking a new president today. Will it be John McCain or Barak Obama?  The mortgage bond is trading slightly up but has been in a narrow trading range for the last 4-5 days.  We are off the highs which has rates at the highest they have been all year.  There isn’t much-scheduled news to move bonds so will be probably trading in response to the stock market.

Oil is up again this morning on news OPEC is going to cut production. The LIBOR has fallen considerably over the last week and a half from high of 4.33% down to 2.71%. This is good news which means credit market is loosening up., In the long run, we could see mortgage rates come down if money starts to move back into bonds. Keep Reading...