Steve M's Blog

Mortgage and Lending - Mortgage Alliance Group - San Diego, CA - NMLS#305667
2 BR 2 BA Oceanfront Luxury Condo in La Jolla, CA 92037 303 Coast Blvd. #1 La Jolla, CA 92037 White Water Views and Ocean Living Home   Photo Gallery   Virtual Tour   Property Map   Payment Info   Request Showing   Contact Me   Kimberly Dotseth Calif. DRE Broker license #01179760 Office: 858-452-...
Update: The concerns over Greece and other European nations just won't go away . . Standard & Poors downgraded Greece's debt rating to junk and that is sinking stocks and causing a major rally in bonds. Not good for the world economic picture but very good for interest rates . . FLOAT Here is tod...
Update: Mortgage Bonds are still negative but off the lows of the day so at this point we can very carefully FLOAT. Here is today's Market Snapshot from Rate Interest rates jumped overnight and opened this morning higher with prices of mortgages down along with treasuries. At 8:30 Marc...
Update:The MBS Market has turned negative in the last half hour.  Bonds once again were turned away by the thick ceiling of resistance formed by the 50 day and 200 day moving averages.  Since there is nothing on the horizon that could be forseen to boost them over that resistance and with an upco...
Update:  The Mortgage Bond Market is up a bit today, testing the resistance of the 25 day moving average.  This resistance has turned the bond back everyday so far this week and with no economic reports due to be released today it is likely the same will happen.  Since we are positive, we can ver...
Update - MBS Market starting to sell off in mid-day trading again today.  Alert to LOCK! Here is today's Mortgage Market Snapshop from Treasuries and mortgages opened soft this morning but by 9:00 the 10 yr and mortgage prices climbed back to unchanged. There is no economic data to...
Update - Last week was a good week for shoppers of San Diego mortgage rates, California mortgage rates and mortgage rates all over.  Friday's news of the Goldman Sachs indicment sent investors running for the safety of bonds.  The bond market continues to perform well this morning but we are off ...
Update - The MBS Market is presently having a nice rally predicated by the breaking news that the SEC is charging Goldman Sachs with fraud in relation to subprime mortgages.  Our benchmark FNMA 4.5% coupon is currently up 28 bps and has broken resistance of the 25 day moving average - lenders wil...
Update: The MBS Market is currently positive, up 16bps.  Many lenders are re-pricing for the better.  My strategy would be to carefully wait for your lender to re-price and then lock as market conditions (as we saw yesterday) are very volatile and things could turn south quickly. Here is today's ...

Steve McCoole

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smartphone(619) 417-2701
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