YOUR Mortgage Minute -- July 31, 2009

Good Morning,

Happy Friday!

I hope your day is off to a fabulous start.

In the markets, Mortgage Bonds mounted an impressive reversal higher yesterday, after foreign participation in the 7-Year Note auction helped ease market concerns over excess supply and weak demand.

In today's news, Advanced Gross Domestic Product for the 2nd Quarter came in better than expected, while the 1st Quarter was revised lower. Overall, GDP has fallen four quarters in a row for the first time since government records started in 1947. The report also showed consumer spending is down, as consumer savings increased to the highest level since 1998.

Currently, prices are higher after some up-and-down movement earlier this morning. I recommend floating for now. But be prepared to act if the situation changes. I will certainly keep you posted as the situation warrants. Remember you can always follow me on Twitter @MortgageMinute for more up to date analysis as changes occur. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 30, 2009

Good Afternoon,

I hope your day is going well for you.

In the Markets today, Mortgage Bonds are trading lower and flirting with several Moving Averages, as the 50-, 100- and 200-day Moving Averages all lay within a few basis points of current levels.

In other news, Initial Jobless Claims rose slightly more than expected. However, the closely watched four-week moving average fell for a fifth straight week to the lowest level since January. Continuing Jobless Claims also fell for a third straight week to the lowest since April--but this number may be misleading since many people are coming off the list because their benefits have simply run out.

With Bonds struggling this morning and a hefty Treasury auction on tap today that may pressure Bonds, I recommend locking. The good news is, despite all the chaos of the markets, the 30-year mortgage rates are still near multi-year lows and still present a great opportunity.

Don't forget to follow me on Twitter @MortgageMinute for more information and updates. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 29, 2009

Good Morning!

I hope your Wednesday is off to a FABULOUS start so far. I just wanted to take a few minutes to provide a brief update on today's activities.

In the Markets, Bonds are trading slightly higher this morning, as Stocks move lower on news of the worst decline of the year in the Chinese Stock market.

In other economic news, Durable Goods Orders came in with weaker than expected numbers. However, when you remove the very volatile transportation orders, Durable Goods Orders actually rose better than anticipated. Overall, recent readings of this report do suggest some moderate stabilization within the economy.

Currently, Mortgage Bonds are trading just above the 25-, 50- and 200-Day Moving Averages. I recommend floating for now. But be prepared to change course if today’s Treasury auction or other market news impacts Bonds negatively. I will certainly keep you posted if news of the day requires a change of course. In the meantime, I hope you enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 28, 2009

Good Morning,

Mortgage Bonds are trading higher so far this morning, after trading quite a bit lower yesterday.

In the news, the Case/Shiller Home Price Index came in at its best reading in nearly twelve months and the first month-over-month improvement in three years. This is good news, especially when combined with the last few months of improved Existing and New Home Sales.

Currently, Mortgage Bonds are trading just beneath a layer of resistance formed by the 25-, 50- and 200-Day Moving Averages. I recommend floating for now to see if prices can build on the positive vibe. But be ready to lock if the Treasury Department's auction of $42 Billion in 2-yr T Notes shakes up the market later today.

I hope that you really enjoy the rest of your day. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 27, 2009

Good Afternoon,

I hope that your Friday is going great and that you are planning a fabulous weekend ahead wherever you may be.

In the Markerts today, Mortgage Bonds are trying to stabilize after yesterday's sharp losses, which came in response to the Treasury announcing a $115 Billion auction of Notes next week. Also adding pressure to Bonds was an explosive move higher in Stocks, with the Dow closing above 9,000 for the first time since Jan 6th.

In the news, Consumer Sentiment--which measures consumer attitudes regarding the economy--was reported at 66, meeting expectations but continuing a modest trend of improvement.

Currently, Stocks are down just a bit after touching resistance yesterday. Since a drop in Stocks might help Mortgage Bonds, I recommend floating for now. But certainly be on guard in case the Stock market becomes re energized. If anything happens that requires immediate attention, I will certainly let you know.

Don't forget to check out my latest market and financial updates on Twitter @MortgageMinute. In the meantime, if there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 23, 2009

Good Morning,

I hope that all is well for you and that your Thursday is already off to a great start.

In the markets today, Mortgage Bonds are down a bit, but remain above a triple-decker floor of support. Despite appearing to be overbought, the bias for Stocks is higher for now, which is a drag on Mortgage Bonds.

In the news, Initial Jobless Claims were reported in-line with expectations, but are still high. Continuing Claims were down, but this could be a reflection of unemployment benefits running out for people. Also today, Existing Home Sales came in better than expected and increased for the third time in as many months. Even better, the supply dropped to its best level in over a year, showings signs we are in a bottoming process.

Overall, excess supply of Bonds has been the nemesis of Mortgage Bonds and was the catalyst for the sharp rise in rates in May and early June. For now, I recommend LOCKING YOUR RATE, as next week's Treasury auction, the favorable economic data and the rally in Stocks are all pressuring Bonds and will probably continue to do so for some time.

If there is ever anything that I can do for you, please let me know. Also, don't forget to follow me on Twitter @MortgageMinute in order to access the latest information.

YOUR Mortgage Minute -- July 20, 2009

Good Morning,

I hope this finds you well and that your week is off to a fabulous start already.

Stocks are beginning the week by continuing their rally from last week, which is adding pressure to Bonds. Helping Stocks rally is news that small business lender CIT Group has reached a last-minute rescue plan to avoid bankruptcy as well as a forecast from Goldman Sachs that the S&P 500 will continue to improve this year.

There are no Treasury auctions this week and very few economic reports. However, a slew of earnings for the second quarter will continue--and if the reports are good, Bonds could face additional pressure to sells, causing mortgage rates to potentially move higher.

Currently, Stocks are near an important technical level that may halt their rally. I recommend floating, but I will let you know if we need to change course.

In the meantime, you are always welcome to follow me on Twitter @mortgageminute for even more immediate guidance. I hope you have a great rest of your Monday. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 17, 2009

Good Morning,

I hope you are having a fabulous Friday. The weather is unbeleivable for July here, hope the same can be said where you are.

Mortgage Bonds have fallen to their lowest levels of the day, after a better-than-expected report on Housing Starts for June came in at a seven-month high. The past couple readings have been encouraging and may be signaling that the worst of the housing decline could be over.

In other news, a mixed bag of earnings were reported late yesterday and early this morning, including reports from General Electric, Bank of America, IBM, Google, and Citigroup. Overall, the earnings reports indicate the economic climate is still quite difficult.

Currently, Mortgage Bonds have dropped below a dual layer of support at the 25- and 200-Day Moving Averages, as the housing numbers continue to move the markets. Therefore, I recommend LOCKING at this time. I will continue to monitor the situation and keep you updated on any major developments.

In the meantime, I hope you have a great rest of your day and a fabulous weekend ahead. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 16th, 2009

Good Afternoon,

After a couple of weeks away for a summer vacation with family and playing catch up upon my return, I am back at it. It is still a fabulous time to buy or refinance in today's market. If you would like to know if you are "in the money" for that, please feel free to reach out to me. I would be glad to assist you or someone you know with a free review.

Now, on to the news of the day...In the Markets today, Mortgage Bonds have regained a bit of the ground lost yesterday. Bond prices took a hit in early trading when first-time unemployment claims came in below expectations and the lowest level since January. However, they have since improved into positive territory.

In other news, the Philly Fed Manufacturing Index came in slightly worse than anticipated, indicating that manufacturing continues its trend of contraction that began in September 2008. JPMorgan Chase also made news when it reported a 36% jump in profits for the second quarter, which beat Wall Street estimates. Finally, important foreclosure numbers this morning showed a 15% jump in 2009 versus this same time last year.

I recommend floating for now, as Mortgage Bonds snap back after losing 170 basis points in the past three days. But be prepared to lock if the situation changes. Certainly, I will keep you posted if anything warrants immediate attention.

In the meantime, I hope that you have a great rest of your Thursday. If there is ever anything that I can do for you, please let me know.

YOUR Mortgage Minute -- July 02, 2009

Good Afternoon,

Mortgage Bonds were up this morning after grim employment news was released. According to the Labor Department, 467,000 jobs were lost in June, which is far worse than expectations of 365,000. In addition, the unemployment rate rose to 9.5%, its highest level since August 1983. Overall, the weak Job numbers indicate that the recession continues at concerning levels.

In other news, the European Central Bank held its benchmark interest steady at 1% to help stimulate the European economy. As a result, the US Dollar has strengthened significantly, which has caused a sharp decline in Oil prices today. The decline in Oil, in turn, is applying pressure to Stocks by pushing shares of energy lower.

Currently, the weak job news has helped Mortgage Bonds climb to test a dual layer of resistance. I recommend floating for now, but be prepared to lock in the gains if Bonds are pushed lower. Remember, the markets will be closed tomorrow in observance of Independence Day. Have a safe and happy holiday!

YOUR Mortgage Minute -- July 01, 2009

Good Morning,

I hope this note finds you well and that your are enjoying your Wednesday so far.

In the financial sectors today, the first wave of employment data hit this morning with the ADP numbers showing that the US private sector lost 473,000 jobs in June, which is quite a bit more than expectations of 394,000 jobs lost. This report comes ahead of tomorrow's official Jobs Report, where expectations have been for 363,000 jobs lost. Some very sobering statistics for sure!

In other news, Stocks are getting a boost this morning on news that China's manufacturing sector has expanded, which may signal that global economies could be recovering from the current financial malaise.

Looking ahead to what's on tap for the rest of the week, tomorrow's official Jobs Report will probably be ugly. If that happens, Bonds should hold their own and maybe even improve a little. Therefore, I recommend floating for now. Hwever, be prepared to lock if a wild card like Census hiring skews the picture and impacts the markets. I will keep you posted as things develop and the if the situation warrants immediate attention.

In the meantime, here's hope that your July exceeds expectations for you. If there is ever anything I can do for you, please let me know.