Jeff Thomas
My Posts:
Interest Rate Update – January 28, 2011
Interest Rate Update – January 28, 2011 Closing within 5-7 days: LOCK. Closing within 7-15 days: FLOAT, BUT LOCK LOANS THAT ARE CRITICAL; STILL BEARISH OUTLOOK. Closing within 15-30 days: FLOAT WITH CAUTION. Closing within 30+ days: FLOAT WITH CAUTION. (I realize the advice is redundant, but rates are static so advice doesn’t change) Fairfax, Virginia: Two very key economic releases at 8:30... [Read more]
What’s Ahead For Mortgage Rates This Week : January 24, 2011
What’s Ahead For Mortgage Rates This Week : January 24, 2011 Fairfax, Virginia: Mortgage markets worsened last week in a holiday-shortened trading week. As the body of U.S. economic data continues to show slow, steady improvement, Wall Street is becoming a net-seller of mortgage-backed bonds. As a result, conforming mortgages rates in Virginia are rising. This is why conforming and FHA mortgage... [Read more]
What Should You Expect in 2011, Part 1
Forecasts for the Economy and Employment – Their Impact on the Housing Market Fairfax, VA – The economy and housing markets have seen some rough times the last couple of years. But the good news is last year we saw some stabilization in 2010 – and 2011 should continue on the road to recovery. To help you prepare for the coming year, YOU Magazine has put together a two-part overview of what... [Read more]
Interest Rate Update – January 5, 2011
5-7 days: LOCK. 7-15 days: FLOAT, BUT BE CAUTIOUS; WE WILL HOLD TO OUR FLOAT UNTIL FRIDAY’S EMPLOYMENT REPORT BUT IT ISN’T LOOKING GOOD; CRITICAL DEALS SHOULD BE LOCKED NOW. 15-30 days: FLOAT. 30+ days: FLOAT WITH CAUTION. This morning’s ADP December jobs report really hit the bond market hard, 100,000 jobs expected but 297,000 jobs reported. It was a huge surprise but likely a little... [Read more]
An Affordable Mortgage Program for Underserved Markets
An Affordable Mortgage for Underserved Markets MyCommunityMortgage® (MCM) is a conventional, community lending mortgage that offers underwriting flexibilities to qualified borrowers who meet specific income criteria or properties that meet geographic location eligibility criteria (FannieNeighbors®). MCM also permits additional eligibility-based options: Community Solutions™ for public safety,... [Read more]
Interest Rate Update – January 4, 2011
ECONOMIC OUTLOOK. 5-7 days: LOCK. 7-15 days: FLOAT, BUT BE CAUTIOUS; NOT LIKELY RATES WILL DECLINE MUCH WITH BULLISH 15-30 days: FLOAT. 30+ days: FLOAT WITH CAUTION. Treasuries opened flat this morning, mortgages bonds are up 4/32 (.12 BP – basis points) at 9:00. Mortgage bonds are still trading in a 25 basis point yield range. The Dow Jones Industrial Average DJIA opening firmer again as... [Read more]
Housing Inventory Snapshot December 28, 2010
Housing Inventory Snapshot December 28, 2010 Average List Price Median List Price Average Days On Market District of Columbia (DC), DC Single Family under $1M $367,934 $315,000 126 Single Family over $1M $3,180,091 $2,295,000 149 Condo/Townhome under $600K $286,070 $269,900 125 Condo/Townhome over $600K $1,351,996 $939,500 140 Arlington County, VA Single Family under $1M $660,087 $648,000 98 Single... [Read more]
Interest Rate Update – January 3, 2011
If closing is in: 5-7 days: LOCK 7-15 days: FLOAT, BUT BE CAUTIOUS; NOT LIKELY RATES WILL DECLINE MUCH WITH BULLISH ECONOMIC OUTLOOK 15-30 days: FLOAT 30+ days: FLOAT WITH CAUTION <><><><><><><><><><><><><> Last Friday in thin trading the bond and mortgage markets had a nice end of the year with good price gains (lower interest... [Read more]
Interest Rate Info – December 30 2010
Movements in the economy, good or bad, up or down, move interest rates up and down through out each trading day. Jobless claims is one of the reports that moves interest rates up or down. Today’s jobless claims number came in significantly lower than expected. Jobless claims came in at 388,000 lower than the expected mark of 416,000 and beneath the floor number of 400,000. Yesterday interest... [Read more]
Interest Rate Info – December 29, 2010
Fairfax, Virginia: There was no driving news overnight and there is no economic data today; the only thing of importance is the last of the three auctions today, the $29 billion auction of 7 year notes at 1:00 PM. The markets were slammed hard yesterday when the results of the 5 year auction were released. With the demand being very weak, interest rates were pushed higher as investors went looking... [Read more]
Market Recap – Week Ending Thursday, December 23, 2010
Fairfax Virginia: There were few surprises from the economic news released this week. The economic data generally was very close to the consensus forecasts, and activity levels were low during the holiday season. While daily volatility remained high, mortgage rates ended the week nearly unchanged from last week. After reaching record lows in early November, mortgage rates have since increased, although... [Read more]
Home (of Your Own) for the Holidays?
Now May Be the Perfect Time to Buy Fairfax, Virginia: There’s no place like home for creating memories. And no place like home for the holidays. While it may sound a bit crazy to add this to your shopping list…this holiday season could be the very best time in history to give yourself the gift of a new home. While there are a number of advantages to purchasing a home Fairfax or Vienna... [Read more]
Bonds Started Lower Again Today
The 10 yr note overnight it 3.39% +7 basis points from Friday’s close, a little improvement by 9:00, at 3.36%. Mortgage prices at 9:00 down 6/32 (.18 basis points) from Friday’s close. Looks more and more likely that the 10 yr may eventually drive to 3.50%. The exit from fixed income investments at those low yields is not over although we believe the near term remains excessively overdone.... [Read more]
Will Rates Go Lower?
What More Quantitative Easing Could Mean Fairfax, VA – Historic, low home loan rates have been about the only thing stable in the economy these days. This low level mark breeds complacency, especially with the buzz in the air that rates may go even lower. But the question hangs in the air like humidity on a southern summer day – will rates go lower? And if there is a chance, should you... [Read more]
‘Tis the Season For Great Home Loan Rates
Fairfax, VA – This summer has brought some of the best home loan rates on record. If you’ve been wondering whether you could benefit from today’s low rate environment, read on. There are two programs that may help you. What about My Home’s Value? Not only were home loan rates at their lowest in August, we also learned last month that home prices continued to climb nationally... [Read more]
