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Alert to Lock Lowest Mortgage Rates Now!

Mortgage Bonds are near unchanged so far today – and it may be a slow news day, with no economic reports or Fed speakers scheduled.  With no scheduled reports, Mortgage Bonds are more likely to respond to technical factors.  At the moment, Bond prices remain below a strong ceiling of resistance, and we are maintaining our bias towards locking. Yesterday, the Treasury announced they will unload... [Read more]

Ironic Twist: Wells Fargo Cuts Borrower Payments. Bets on Housing Recovery

Wells Fargo last week announced it will let some at-risk borrowers pay interest only on their mortgage loans in order to stay current and remain in their homes. The announcement makes you to stop and think: Wells is gambling on a housing recovery to make up for losses. That sounds very similar to the mid-decade business models of so many lenders who, counting on continuous rises in home values, bet... [Read more]

Mortgage Rates Will Be Rising!

Mortgage Bonds have traded sideways along the 50-day Moving Average for the past seven trading days, but this morning, they seem to have lost their footing on this level and have broken well beneath it. Stocks were stronger this morning, largely thanks to Microsoft and Amazon, which both posted far better than expected earnings.  Interestingly enough – Microsoft’s revenues and income were... [Read more]

San Diego’s Premier Mortgage Refinance Company

Mortgage Rates continued to climb this week due to the recent run up in the stock market. The conforming 30 yr fix hit a low of 4.5% 2 weeks ago and has been inching higher since that low. Today the 30 yr fix is at 4.75%  Read More →