Interest rates - Ouch!

Today, mortgage interest rates are taking a beating. Why is this happening? Good question with lots of different answers......here is a segment from Yahoo! Finance that is worth watching.....
http://finance.yahoo.com/blogs/breakout/3-signs-market-sell-off-coming-soon-121617680.html


Enjoy,

Jeff Eisenberg
Southern Oaks
661.964.2600
brokermanjeff@gmail.com

Weekly Preview 2/27/2012

Forwarded exclusively by:	Jeff Eisenberg Southern Oaks Mortgage, Inc. Office: 661-964-2600 Email: jeff@somloans.com website: www.somloans.com
When the RIGHT loan matters!
Sunday, February 26, 2012
This week; a number of economic releases that will dominate markets.  The Europe debt mess is presently dormant in the sense of nothing in the way of market-driving news, the same as last week. Greece will get  its money the will eventually default but for now markets have generally    discounted Greece and Europe’s problems. The focus now in the bond  and equity markets is the status and outlook for the US economy.  Interest rate markets are wound tight as a spring. Based on the 10  yr treasury, driver for mortgage markets, not much change in rates  last week. Technically the 10 yr is presently losing its support at these  levels but still holds well so far. This week’s economic releases are significant for the outlook on  the economy, thus the bond market. There are a number of key  releases this week, most expected to have improved from last  month.(see economic calendar). Ben Bernanke will be speaking on Wednesday, other Fed officials have been talking about potential  of another easing move from the Fed. There is little appetite for  another round of MBS purchases or any other easing moves as  long as the economic outlook continues to be strong; the Fed    doesn’t need to add more to its balance sheet as long as the  economy doesn’t roll over. Although the Friday is March 2nd the employment report won’t be released until March 9th. There is the potential for wider market movements this  week compared to last week. Interest rates are vulnerable  to selling if equity markets rally this week.

Weekly Preview from Jeff Eisenberg

Forwarded exclusively by:



Jeff Eisenberg

Southern Oaks Mortgage, Inc.

Office: 661-964-2600

Email: jeff@somloans.com

website: www.somloans.com




When the RIGHT loan matters!

Monday, November 28, 2011

This Week; interest rates are opening weaker on Monday with stocks rallying on better than expected Holiday shopping on Black Friday and the rest of the weekend. We continue to believe that US interest rates are about at their lows when the 10 yr moves below 2.00% as it did last week. Europe continues to play a role in the global bond markets however unless there is an actual default in Greece or Italy markets appear to have discounted the problems in the region; until more negative news unfolds the bond market will be focused more on domestic issues.



This week has a number of key data points beside the daily report on retail sales this holiday season. Monday we get new home sales for Oct (expected generally unchanged). Tuesday Nov consumer confidence. Wednesday ADP report on non-farm private jobs, Nov Chicago purchasing mgrs index, Sept pending home sales, and the Fed's Beige Book. Thursday weekly claims, the ISM manufacturing index for Nov. Friday the Nov employment report (non-farm jobs +118K, non farm private jobs +133K and the unemployment rate at 9.0% unch frm Oct).



As long as there is nothing consequential from Europe this week will be about equity markets and that sector will focus closely on any report on retail sales. Prior to this weekend analysts were generally expecting weaker sales this year than last year. Based on the momentary optimism the current view is that sales may exceed last year's sales pace. The bellwether 10 yr note will be testing its key moving averages through the week with MBSs moving with it as is the norm.

(information from Rate Watch - TBWS)

Mortgage Interest Rates - All-time Low's!

It is shocking to me how low interest rates have been going lately.  The one thing that amazes me is the fact that internet mortgage companies advertise even lower rates.  Why is that?  Well, honestly, to get you to call them......Then when they have you on the phone, for some reason or another, the interest rate goes up because, oh, you have to have a loan-to-value ratio of 60% or  below, your FICO score has to be 780 or above, and you have to have impound accounts whether you want them or not.  Oh, and also you must have a loan amount above $300K........kinda like that commercial where the lady goes into buy something from a clothing store and the clerk offers her a discount card and all of a sudden this man shows up and states all these conditions she must meet to get the discount, so she just hands back the discount offer.......typical.  Makes me sick!  Oh well, what can you do?

For the best rates on mortgages, call me, 661.964.2600
Jeff Eisenberg
Broker
Southern Oaks Mortgage, Inc.
jeff@somloans.com
http://www.somloans.com/
http://www.loanmanjeff.com/

Crazy Day of Trading

Yesterday, if you aren't aware of how volatile the market was, a big error occurred.  Someone pushed the wrong button on a sell order and the market just went haywire.  The fixed it, but boy, what a ride.  Today, we are currently down 3 basis points for the day, but were much higher this morning.  There was an alert to lock today, however, if you aren't closing escrow in the next to weeks or so, floating may prove to be the best option.

Your Eyes, Ears and Voice in Mortgage Finance,

Jeff Eisenberg
http://www.somloans.com/
http://www.loanmanjeff.com/
jeff@somloans.com
661.964.2600

Mortgage Backed Securities having a GOOD day!

We are up about 44 basis points on the MBS for the day.  We've seen two price improvements throughout the day.  Rumor has it that the government will extend the $8000 tax credit and also make it available to people who already own, but are moving up.  We'll have to see how that pans out, but at least we are moving in the right direction.

For more information, call Jeff Eisenberg  661.964.2600 x 104
http://www.southernoaksmortgage.com/
http://www.somloans.com/
http://www.loanmanjeff.com/  for my  book
www.twitter.com/loanmanjeff

Great News for Rates!

Looks like the Fed did it again! The announced that they will purchase 750 Billion dollars worth of Fannie Mae, Freddie Mac and Ginnie Mae Mortgage Backed Securities as well as an additional $300 Billion of US Treasuries. Wow, they have big pockets. Well this is good news for mortgage rates and we saw a .325 basis points to the fee improvement today. Rates are hovering around 4.5%. Many lenders decided to hold off on improving their rates today because they are already at their capacity of loans in their pipeline. The days ahead will surely be interesting.

Interest rates climbed a bit today!

Today, the mortgage bond market was off by as much as 51 basis points. This in turn, caused mortgage rates to go up. Since investors aren't paying much for purchasing closed loans these days, the spread between rates is much lower than it has been over the last 5-7 years. So a large decrease in movement like we saw today could change interest rates roughly .375% in rate. So today probably wasn't the best day to lock in a rate.

On another note, did you know that when applying for an FHA loan, both spouses have to have their credit run even if one of them isn't going to be on the loan? The purpose of this is to add the non-applying spouse's monthly debts against the actual applying spouse's debts since they are married and will be living there together. So if your spouse has lots of debt and you are thinking that by applying as a married man/woman as your sole and separate property, you could avoid the other persons debt, that will not be the case on an FHA loan.

And remember to visit my website: http://www.somloans.com/, http://www.southernoaksmortgage.com/ and my new site for my book: http://www.loanmanjeff.com/

Happy New Year to All!

This year should be a great year to buy and to refinance! Rates hopefully will stay at all time lows and if you are in the market to purchase, home prices should stay relatively low. I do, however believe that sometime in July 2009, we will start to see a turnaround in the real estate market. I feel that housing prices will start to stabalize and possibly even appreciate 1-3% and interest rates will stay low and consistent. There you have it, my prediction!

Remember to visit my website: http://www.somloans.com/ or http://www.southernoaksmortgage.com/. Also, my new website is up for my new book: http://www.loanmanjeff.com/

Rates are at all-time lows!

The Fed announced that they will lower the Fed Funds rate down to a target range from 0 to .25%. This sparked a rally in the stock market and in the mortgage bond market. Mortgage interest rates went down to their lowest levels in years. Rates are hovering around the high 4's to low 5's. Is it possible to see rates drop even further? Only time will tell. Now is the time to refinance or purchase, so don't let this amazing opportunity slip by. Call 661.964.2600

Remember to visit our website at: www.southernoaksmortgage.com or www.somloans.com

Fed to buy Mortgage Backed Securities!

Great news, the Fed decided to purchase $600 Billion worth of mortgage backed securities today which sparked a fantastic boost to mortgage bonds. Rates went down approximately .5% today, reaching roughly 5.25% on a conforming 30 year fixed. (APR 5.373) We could be in for a short term refinance boom in the coming days. Enjoy it while it lasts.

And please visit my site: http://www.southernoaksmortgage.com/ or http://www.somloans.com/

A New President!

Wow, what a crazy election this was. As Obama says, "We can change". Well, once he is sworn in and begins his term, we will see if he can change this country for the better. Interesting news on the mortgage side, rates improved a bit today. This is a good sign because that means that the investors are confident and are investing in mortgage backed securities. Let's hope this continues. Visit my site: www.somloans.com

Market Turmoil!

What a week it has been. The stock market took one of the largest hits in years, the mortgage bond market has deteriorated and the overall economy is looking pitiful. Friday the 10th of October, the Fannie Mae 30 yr. bond took a dramatic 109 basis point drop, which sent mortgage interest rates higher. Now that the bond has fallen far below the 200 day moving average, we are in store for some short term increases in interest rates. Ouch!

visit my site at: www.somloans.com