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NO CLOSING COST Options available for all loans!!!

866-445-3765

CALL TODAY

24/7 

SMART LOANS FOR

SMART PEOPLE

Stay Connected:

facebook twitter cast

 

INTEREST RATES

Rates fluctuate on a daily basis, sometimes even hourly, click here to see our current rates or simply request your rate

 

INTEREST RATES

Rates fluctuate on a daily basis, sometimes even hourly, click here to see our current rates or simply request your rate

Market Commentary

Updated on April 26, 2017 10:28:59 AM EDT

There is nothing scheduled for release today in terms of economic data that is expected to affect mortgage rates. We do have the first of this week’s two relatively important Treasury auctions taking place that may affect mortgage rates though. There will be an auction of 5-year Treasury Notes today and 7-year Notes on tomorrow. Neither of these sales will directly impact mortgage pricing, but they can influence general bond market sentiment. If the sales go poorly, we could see broader selling in the bond market that leads to upward revisions in mortgage rates. On the other hand, strong sales usually make government securities more attractive to investors and bring more funds into bonds. The buying of bonds that follows usually translates into lower mortgage rates. Results of the sales will be posted at 1:00 PM ET each auction day, so look for any reaction to come during afternoon hours.

Tomorrow has two pieces of economic data set for release at 8:30 AM ET. One of those reports is much more important to the markets than the other. That would be Marchs Durable Goods Orders. This report gives us an indication of manufacturing sector strength by tracking orders for big-ticket items at U.S. factories. These are products that are expected to last three or more years, such as appliances, electronics and airplanes. Current forecasts are calling for an increase in new orders of 1.2%. This would be a sign of manufacturing sector strength, but this data can be quite volatile from month-to-month. Therefore, a small variance between forecasts and the actual results will not heavily influence the markets or mortgage rates. A large decline would be considered good news for mortgage pricing, while a large rise would indicate strength in the sector. A sign of solid manufacturing growth could lead to higher mortgage rates tomorrow.

Also early tomorrow morning will be last week’s unemployment update. This report is expected to show that 242,000 new claims for unemployment benefits were filed last week, down slightly from the previous week’s 244,000. Rising initial claims are a sign of employment sector weakness, so the larger the number of claims, the better the news it is for mortgage rates. Although, because this is only a weekly reading we usually need to see a significant variance from forecasts for it to impact mortgage rates.

 ©Mortgage Commentary 2017

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Mortgage Loans Austin - Reliability Program    Mortgage Loans Austin
State Licencing
Branch of RLM Mortgage LLC, NMLS ID #289446 Mortgage Company License
Sonny Baker, Branch Manager, NMLS ID# 307828
Complaints regarding mortgage bankers should be sent to the Texas Dept. of Savings and Mortgage Lending,
2601 N. Lamar, Suite 201, Austin, TX 78705. A toll-free consumer hotline is available at 1-877-276-5550.

Figure: 7 TAC 80.200(b) "Consumers wishing to file a complain against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

 

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recover fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the Recovery Fund, please consult the department's website at www.sml.texas.gov."
 

 

 
Mortgage Loans Austin - Reliability Program    Mortgage Loans Austin
State Licencing
Branch of RLM Mortgage LLC, NMLS ID #289446 Mortgage Company License
Sonny Baker, Branch Manager, NMLS ID# 307828
Complaints regarding mortgage bankers should be sent to the Texas Dept. of Savings and Mortgage Lending,
2601 N. Lamar, Suite 201, Austin, TX 78705. A toll-free consumer hotline is available at 1-877-276-5550.

Figure: 7 TAC 80.200(b) "Consumers wishing to file a complain against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550.

 

The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recover fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the Recovery Fund, please consult the department's website at www.sml.texas.gov."
 

 

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