East Bay Mortgage & Market Update for February 10th 2012

Mortgage and Market Update for February 10th

Economic News: There is not much to say about market news this week. The calendar was pretty light and things were mostly stable. Weekly Jobless Claims continued their decline and were reported at 358,000 versus the expected 370,000. The four week moving average has fallen nine out of the last 10 weeks. Consumer Sentiment slipped a touch and missed estimates after strong readings in December and January. There is a fair amount of news next week and the situation with Greece and the European Union will most likely continue to simmer.

Mortgage Markets: Treasuries and Mortgage Backed Securities had a fairly stable week. The 10 Year Note closed trading at 1.983% which is up a touch from last week’s closing of 1.928%.

Next Week’s Reports: Tuesday: Retail Sales Wednesday: Industrial Production, FOMC Minutes Thursday: Jobless Claims, Producer Price Index, Philadelphia FED Survey Friday: Consumer Price Index

While I do not originate loans I make it a habit to keep abreast of mortgage & market conditions. If you are thinking of purchasing a home the first step is to meet with a mortgage professional. I will gladly provide several top-notch Bay Area advisers for your review if you are in need of a referral.