Derek McClintock's Blog

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Mortgage and Lending - C2 Financial - NMLS# 331867
RECENT BLOG POSTS
Last Week's Mortgage Rate RecapLast week saw mortgage rates improve an average of .125 to .250 percent from the previous week. While each day continues to contain volatility, we enjoyed market improvements 4 out of 5 days with the largest gains coming on Monday. Wednesday was clearly the most int...
07/15/2013
Real Estate is Still a Good BuyWith the steady increase in mortgage rates and home prices, is real estate still a good investment?  That is the question that many investors and prospective home buyers are asking, clearly wanting to avoid the trap of the last housing bubble. Jonathan Gray, Blackst...
07/15/2013
Markets started quietly this morning ahead of this afternoon’s triple threat. At 1:00 $21B of 10 yr notes will be auctioned, the demand will be important after the recent increase in rates; at 2:00 the minutes from the 6/19/FOMC meeting that triggered the recent explosion in rates; at 4:10 Bernan...
07/10/2013
A nice rebound yesterday; the MBS market recovered slightly over half the price declines last Friday on the June employment report. This morning markets opened about unchanged in the bond and mortgage markets with US stock indexes up again in pre-market trading. Today there are no economic releas...
07/09/2013
Last Week's Mortgage Rates RecapLast week saw mortgage rates lose significant ground, with rates going up by as much as .5% over the course of the week. It was easy to get caught off guard because most of the increase came from a huge selloff in the MBS (Mortgage Backed Securities) market on Frid...
07/08/2013
Closing in 7 days: LOCK. Closing in 7-15 days: LOCK Closing in 15-30 days: LOCK Closing in 30+ days: LOCK   Overnight the US bond market traded a little better but by 9:00 this morning the price gains were over and the 10 yr quietly down 2/32 at 2.49% +1 bp; 30 yr MBSs -3 bps. No US news early on...
07/02/2013
How Can Higher Mortgage Interest Rates Help You? Nobody wants to see higher mortgage rates - or do they?  While some may argue that it is coincidence, others would argue that the recent spike up in mortgage rates are helping to drive more home sales.  Pending home sales hit a 6-year high in May, ...
07/01/2013
Fed Speeches Drive Markets It was another incredibly volatile week as investors attempted to determine the impact of last week's Fed announcement on mortgage rates. Early in the week, mortgage rates continued to move higher, but soothing comments from Fed officials caused mortgage rates to revers...
06/28/2013
Very early today the 10 yr note was better with the yield down to 2.47% down 1 bp frm yesterday; it didn’t last however, at 8:30 the 10 yr yield increased to 2.50% with US stock indexes working lower early after the strong improvements over the last few days. Mortgage prices at 9:00 -20 bps frm y...
06/28/2013
Treasuries and mortgages traded better this morning prior to 8:30 economic data. The 10 yr note at 2.49% -5 bp, 30 yr MBS prices +24 bp frm yesterday’s closes. Weekly jobless claims were expected -9K, as reported down 9K to 355K; the 4 week average declined about 2800 frm last week. May personal ...
06/27/2013
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