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- Clay Branch, "Georgia Loans"
- Contributions:7859
10 Year down to 1.68 as of now, looks like a really nice rally coming today.
Pasa, I just noticed the 30 year rate over there>>>>> just went from 3.63 to 3.56. I made sure I looked at it closely with my $1 store glasses, lol. Really no way to explain that!
Pasa, I just noticed the 30 year rate over there>>>>> just went from 3.63 to 3.56. I made sure I looked at it closely with my $1 store glasses, lol. Really no way to explain that!
- Pasadenan
- Contributions:21489
I spite of the weekend speculation, today's average ZMM 30 yr fixed rate quote was back where it was last Friday; 3.608%:
web address:
http://photos3.zillow.com/is/image/i0/i13/i4913/IS-1p36fqx1duct9.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i4913/IS-1p36fqx1duct9.jpg
- Pasadenan
- Contributions:21489
Yes, normally if consumer confidence drops, stock market drops too; but there was news that a new Greek election could bring in an "austerity" party that would seek to approve the "bailout packages", thus the stock market investors reacted to that pointless meaningless news.
- Paul Mondello, "Paul Mondello"
- Contributions:2099
Clay, Nothing gets past you.
The 10 year Treas. yield is currently slinking down towards the 1.6's again.
The 10 year Treas. yield is currently slinking down towards the 1.6's again.
- Clay Branch, "Georgia Loans"
- Contributions:7859
Paul, did you get Rudi's permission to use one of his earlier pic's?
- Clay Branch, "Georgia Loans"
- Contributions:7859
Consumer Conf goes down, stock market goes up...gotta love that :)
- Pasadenan
- Contributions:21489
Rates have continued to drift up in spite of the low quote volume for the weekend, and the markets being "closed", thus no new rate sheets. 3.632% average ZMM 30 yr fixed quote today:
web address:
http://photos1.zillow.com/is/image/i0/i13/i4785/IS-8y08yxvmhvtp.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i4785/IS-8y08yxvmhvtp.jpg
- Pasadenan
- Contributions:21489
3.601% average ZMM 30 yr fixed rate quote today:
web address:
http://photos2.zillow.com/is/image/i0/i13/i4508/IS-1p7xrsbsqmhr1.jpg
(This was the 700'th response post to the thread)
web address:
http://photos2.zillow.com/is/image/i0/i13/i4508/IS-1p7xrsbsqmhr1.jpg
(This was the 700'th response post to the thread)
- Paul Mondello, "Paul Mondello"
- Contributions:2099
Stranger things have happened.
- Pasadenan
- Contributions:21489
Stop? If rate movement ever did "stop", we would all be in extremely big trouble, as that would mean something drastic happened to the market to make it "non-functional", and likely no longer a "free market", but rather a "fixed market", which likely would imply some form of "dictatorship".
And under those conditions, there is a good chance that the majority of people that wanted a new mortgage loan would not be able to get them, regardless of the rates.
And under those conditions, there is a good chance that the majority of people that wanted a new mortgage loan would not be able to get them, regardless of the rates.
- Paul Mondello, "Paul Mondello"
- Contributions:2099
Rate sheets have had much more room to budge up than down this week.
Up and down it goes, where it stops nobody knows.
- Pasadenan
- Contributions:21489
3.609% average ZMM 30 yr fixed rate quote today. Not much different than yesterday.
- Pasadenan
- Contributions:21489
3.606% average ZMM 30 yr fixed rate quote today:
web address:
http://photos2.zillow.com/is/image/i0/i13/i4101/IS-8pz0753bqt7h.jpg
web address:
http://photos2.zillow.com/is/image/i0/i13/i4101/IS-8pz0753bqt7h.jpg
- Pasadenan
- Contributions:21489
Looks like Clay was right on... average ZMM 30 yr fixed rate quote for the day came in at 3.584%:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3875/IS-8nbf12pa8v31.jpg
daily tend for the month:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3876/IS-8nbvp3zndkrh.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3875/IS-8nbf12pa8v31.jpg
daily tend for the month:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3876/IS-8nbvp3zndkrh.jpg
- Pasadenan
- Contributions:21489
Yes, 3.58% average ZMM now for the hour of 8:00 am to 9:00 am PDT... but the averages for the day are still going to come in about the same or higher than yesterday, due to the higher morning quotes.
And we are not going to be dropping back down to where they were the day before yesterday, today.
And we are not going to be dropping back down to where they were the day before yesterday, today.
- Clay Branch, "Georgia Loans"
- Contributions:7859
Yo, it already moved down from 3.64 to 3.59 right over there>>>>>>
- Clay Branch, "Georgia Loans"
- Contributions:7859
So far this morning it looks like we may gain back what we lost yesterday, maybe back to 3.59 by 1:00 EDT.
- Pasadenan
- Contributions:21489
Looks like the extra-good interest rates are "over" now, at least for the time being... still not bad, but not the record lows of last week. 3.625% average ZMM 30 yr fixed quote today.
web address:
http://photos1.zillow.com/is/image/i0/i13/i3651/IS-8kov1yoafdr1.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3651/IS-8kov1yoafdr1.jpg
- Pasadenan
- Contributions:21489
3.566% ZMM average 30 yr fixed quote rate today (no record):
web address:
http://photos3.zillow.com/is/image/i0/i13/i3418/IS-8hxxlyykimal.jpg
How May is looking so far:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3418/IS-8hxxmeqtf23h.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3418/IS-8hxxlyykimal.jpg
How May is looking so far:
web address:
http://photos2.zillow.com/is/image/i0/i13/i3418/IS-8hxxmeqtf23h.jpg
- Pasadenan
- Contributions:21489
Back down to 3.55% for the 8:00 to 9:00 am PDT hour. But still can't set any records with that, as the record low last Friday was 3.549% for the day.
- Pasadenan
- Contributions:21489
That was supposed to say *no* new..., not "now"..., I don't know where the extra "w" came from.
3.58% for the past 3 hours on the ZMM averages. I don't expect any new records today; but do expect a slight increase in the daily average.
Those that didn't lock last Friday at the "record low" lost out again.
3.58% for the past 3 hours on the ZMM averages. I don't expect any new records today; but do expect a slight increase in the daily average.
Those that didn't lock last Friday at the "record low" lost out again.
- Pasadenan
- Contributions:21489
Now new record set today either... 3.573% average ZMM 30 yr fixed quote:
web address:
http://photos3.zillow.com/is/image/i0/i13/i3329/IS-1plsnbt3jc0nx.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3329/IS-1plsnbt3jc0nx.jpg
- Pasadenan
- Contributions:21489
No new record set today. 3.566% average ZMM 30 yr fixed rate quote:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3215/IS-1pn4k3gbhlrvh.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3215/IS-1pn4k3gbhlrvh.jpg
- Pasadenan
- Contributions:21489
How May is looking so far:
web address:
http://photos1.zillow.com/is/image/i0/i13/i3031/IS-1ppaiobay0py5.jpg
web address:
http://photos1.zillow.com/is/image/i0/i13/i3031/IS-1ppaiobay0py5.jpg
- Pasadenan
- Contributions:21489
3.549% average ZMM 30 yr fixed quote today! Very close to what I anticipated. Approximately 1 Basis point lower than yesterday. Essentially no market movement in spite of the Stock markets dropping again today. A new record low was set again today! But after hours quotes averaged higher. With mortgage backed securities pricing dropping through the day, it appears we will see higher interest rates Monday, and it appears that the lenders are already anticipating that, based on the after hours quoting.
web address:
http://photos3.zillow.com/is/image/i0/i13/i3031/IS-1ppaiu4g7yjbx.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i3031/IS-1ppaiu4g7yjbx.jpg
- Paul Mondello, "Paul Mondello"
- Contributions:2099
Thank you Matt and mnd!
- Pasadenan
- Contributions:21489
If Fannie prices are dropping, we should see an increase in the rate sheets, which should produce an increase in the average ZMM quote rates soon!
But I see the 7:00 to 8:00 am PDT average ZMM quote is still at 3.55%.
Not really willing to guess the average for the day yet. If I had a loan in process, I would "LOCK NOW" and not gamble away such a good rate.
But since we didn't hear any specific market news to move the rates one way or the other.... the averages could still stay about 3.55% for the rest of the day and weekend.
By Monday, I'm sure someone will come up with a reason for the stock market to recover from some of the present pessimism.
But I see the 7:00 to 8:00 am PDT average ZMM quote is still at 3.55%.
Not really willing to guess the average for the day yet. If I had a loan in process, I would "LOCK NOW" and not gamble away such a good rate.
But since we didn't hear any specific market news to move the rates one way or the other.... the averages could still stay about 3.55% for the rest of the day and weekend.
By Monday, I'm sure someone will come up with a reason for the stock market to recover from some of the present pessimism.
- Paul Mondello, "Paul Mondello"
- Contributions:2099
Or it goes the other way and cost of rates steepen ... ?
- Pasadenan
- Contributions:21489
3.55% average ZMM from the 6:00 to 7:00 am PDT hour this morning...
That is about where it was at the close of markets yesterday... it looks like it may set another new record low today. Maybe 1 basis point difference?
That is about where it was at the close of markets yesterday... it looks like it may set another new record low today. Maybe 1 basis point difference?
- Pasadenan
- Contributions:21489
So here is how the ZMM daily averages for May have been coming in so far:
web address:
http://photos3.zillow.com/is/image/i0/i13/i2839/IS-1prjtedxf5rh9.jpg
web address:
http://photos3.zillow.com/is/image/i0/i13/i2839/IS-1prjtedxf5rh9.jpg
Rates on the move again!
Bring on Pasa and the charts.
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