Barnstable, MA

The Mortgage Interest Rate Lock Advisory for Barnstable MA for February 5, 2010

Here are some of the events affecting mortgage interest rates today in Barnstable, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 101.25 this morning - the same as yesterday's close.
  
  
• The 4.5% MBS coupon was up as high as 101.41 this morning, but reversed course on the employment situation report this morning. The 4.5% MBS coupon is now down 4/32 from its opening, and is down 9/32 from its high.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 1-5-2010 to 2-4-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Employment Situation Report for January - according to the Bureau of Labor Statistics, non-farm payroll fell by 20,000 in January, and is worse than expected. Analysts expected a gain of 5,000 jobs. This follows a revised loss of 150,000 jobs in December, a revised gain of 64,000 jobs in November and a revised loss of 224,000 jobs in October. Meanwhile, the unemployment rate fell to 9.7%, less than the 10.1% rate that was expected. The unemployment rate stood at 10.0% in November and December. This data had a negative impact on the mortgage market this morning as prices of mortgage backed securities fell on the news. This lead to higher mortgage interest rates this morning.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked.

Mortgage interest rates are generally holding at currently levels. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional as mortgage interest rates can change for the worse.

Get current mortgage interest rates for your situation in Barnstable, MA.

The Mortgage Interest Rate Lock Advisory for Barnstable MA for January 12, 2010

Here are some of the events affecting mortgage interest rates today in Barnstable, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 99.97 this morning - down 5/32 yesterday's close.
  
  
• The 4.5% MBS coupon is currently trading at 100.41 - up 14/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.125% - 0.375% better in price this morning as compared to yesterday.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-12-2009 to 1-11-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• International Trade Report - the trade deficit for November came in at -$36.4 billion, more than the expected -$34.5 billion deficit. The international trade deficit increased in November due to higher petroleum and non-petroleum imports. While the trade deficit is more than expected, the report had no impact on the mortgage market this morning.

In other news, the Fed Reserve will be auctioning $40 billion in 3-Year Notes today. If the auction is met with weak demand, it could lead to higher mortgage interest rates this afternoon.

China is ordering its banks to set aside a larger proportion of deposits as reserves to curb the rapid economic growth, inflation, and avoid asset bubbles. That has spurred demand for US debt on the premise that slowing growth in China will lessen fears of inflation fears and reduce demand for equities.

The Treasury Dept expects to lose $120 billion on the Troubled Asset Relief Program (TARP) to banks. As a result, President Obama is proposing that banks and financial institutions that participated in the TARP program to fund up to $120 billion through banking fees to repay the TARP losses. According to a White House official, the details of the program will be contained in the fiscal 2011 budget that Obama will submit to Congress next month.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. There's not much potential for MBS prices to tick higher (lower mortgage rates) as the Fed begins winding down their stimulus programs soon as it appears the overall economy is improving. There's also the fear of inflation.

If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. It's better to have locked when you should have floated than it is to float when you should have locked. If you have not yet locked in your mortgage interest rate yet, please proceed with caution and maintain contact with your mortgage professional.

Get current mortgage interest rates for your situation in Barnstable, MA.

The Mortgage Interest Rate Lock Advisory for Barnstable MA for January 11, 2010

Here are some of the events affecting mortgage interest rates today in Barnstable, MA.

What Mortgage Backed Securities Are Doing Today:

• The price of the FNMA 30-Year 4.5% MBS coupon opened at 100.13 this morning - the same as Friday's close.
  
  
• At 12:00 pm, the 4.5% MBS coupon was trading at 100.28 - up 5/32 from its opening.

Remember, on mortgage backed securities (MBSs), as the price goes up, the yield comes down - and mortgage interest rates come down with it. I expect that mortgage interest rates will be 0.0 to 0.25 points better in price this morning as compared to Thursday.

Price Trend in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.5% coupon over the past 30 days from 12-9-2009 to 1-8-2010:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today

• there are no economic reports scheduled for release today.

In other news, the Fed Reserve will be auctioning $10 billion in inflation-indexed 10-Year Treasury Inflation-Protected Securities (TIPS). If the auction is met with weak demand, it could lead to higher mortgage interest rates this afternoon.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Mortgage interest rates are still at historic lows. If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. While there's still some room for MBS prices to tick higher, it's better to have locked when you should have floated than it is to float when you should have locked.

If you have not yet locked in your mortgage interest rate, please proceed with caution and maintain contact with your mortgage professional. Also, give very serious consideration to applying now and locking in before mortgage interest rates get worse.

Get current mortgage interest rates for your situation in Barnstable, MA.

Home Value Update for Barnstable MA 02630 Through November 2009

According to Trulia.com, the current average listing price of homes on the market in Barnstable, MA is $695,177, while the current mean sales price of homes is $487,500. The sale prices of single family homes in Barnstable, MA have increased 15.2% in the past year through the end of November 2009, but have fallen 0.5% over the last 5 years. Below is a chart of the trend of listing prices of homes for sale in Barnstable, MA, in the past year through November 2009:

Barnstable Recently Sold Homes

The $8000 first-time homebuyer tax credit has been extended, and now expires on April 30, 2010. So, there's no better time than now to buy a home in Barnstable, MA, or surrounding area. If you're looking for a home or condo to purchase in Barnstable, MA, or in the surrounding area, then try this home search.

You can still buy a home with no money down with a VA Loan or with a USDA Rural Development Home Loan. With the FHA Mortgage program, you can purchase a home with as little as 3.5% down. When you're ready to buy a home, find out how much home or condo you can afford to purchase in Barnstable, MA, or in the surrounding area.

If you're 62 or older and are looking for money to finance a home improvement, pay off your current mortgage, supplement your retirement income, or pay for healthcare expenses, then consider getting a reverse mortgage. Find out how a reverse mortgage can use the equity in your home to pay you.

The Mortgage Interest Rate Lock Advisory for Barnstable MA for December 15, 2009

Here are some of the events affecting mortgage interest rates today in Barnstable, MA.

What the Mortgage Backed Securities Market is Doing Today:

The price of the FNMA 30-Year 4.0% MBS coupon opened at 98.00 this morning - down 10/32 from yesterday's close.

The chart below shows today's price trend of the FNMA 30-Year 4.0% coupon:

The FNMA 30-Year 4.0% MBS coupon is currently trading at 97.97 - down 11/32 from yesterday's close. Remember, on mortgage backed securities (MBSs), as the price goes down, the yield goes up - and so do mortgage interest rates. I expect that mortgage interest rates will be 0.25% - 0.50% worse in price this morning as compared to yesterday.

Recent Activity in Mortgage Backed Securities:

The chart below shows the price trend of the FNMA 30-Year 4.0% coupon over the past 30 days:

Economic Reports, News, and Events Affecting Mortgage Interest Rates Today:

• Producer Price Index (PPI) for November - producer prices surged upwards last month. The overall PPI index is up 1.8% and the core data is up 0.5% - both are up more than expected. Analysts expected the report to reveal a 1.0% increase in the overall index, and a 0.2% rise in the core data. The gain in prices was led by a 6.9% spike in energy costs, and a 0.5% gain for food. Year-to-year, the overall index is up 2.7% and the core date is up 1.2% - the largest rise since October 2008. This index measures inflationary pressures at the producer level of the economy. There are two portions of the index that are used: the overall reading, and the core data reading. The core data is the more important of the two because it excludes the more volatile food and energy prices. Because the PPI is stronger than expected, mortgage interest rates ticked higher this morning.
  
  
• Industrial Production Data for November - Overall industrial production in November is up 0.8%, and follows 0.1% increase in October. Capacity utilization rate now stands at 71.3%, up from 70.7% in October. Analysts expected a 0.6% increase in output, and a capacity utilization rate of 71.2%. By tracking output at U.S. factories, mines and utilities, this report provides us with a measurement of manufacturing sector strength. A smaller than expected rise could have a positive impact on the mortgage market and lead to lower mortgage interest rates. If the data comes in stronger than expected, then we can expect higher mortgage interest rates.

In other news, the Empire State index showed that manufacturing growth in the New York region for December slowed substantially. The index came in at 2.55, much less than expected, and much less than the stronger growth rates of 23.51 in November and 34.57 in October. The month-to-month contraction in unfilled manufacturing orders is bad news for factory workers in the New York region - especially those who are unemployed right now.

The Board of Governors of the Federal Reserve begin their Federal Open Market Committee (FOMC) meeting this morning, and will adjourn tomorrow afternoon with a statement release at 2:15 pm.

What's Happening With Mortgage Interest Rates Today:

Moderate to High Volatility. Overall, we can expect to see another volatile week in the financial and mortgage markets. We expect to see the biggest movements in mortgage interest rates this week with the release of the PPI today, and with the release of the CPI and the FOMC meeting press release tomorrow.

There's not much room for MBS prices to move higher or for mortgage interest rates to move lower at the moment. Mortgage interest rates are still at historic lows. If you're happy with the rate being offered to you and don't want to risk mortgage interest rates moving higher, you should apply and lock in today. While there's still some room for MBS prices to tick higher, it's better to have locked when you should have floated than it is to float when you should have locked.

If you have not yet locked in your mortgage interest rate, please proceed with caution and maintain contact with your mortgage professional. Also, give very serious consideration to applying now and locking in before mortgage interest rates get worse.

My Mortgage Interest Rate Lock Advice for Today:

If I were considering financing/refinancing a home, I would...

• Lock if my closing was taking place within the next 7 days
• Lock if my closing was taking place between 8 and 30 days
• Float if my closing was taking place between 31 and 45 days
• Float if my closing was taking place between 46 and 60 days

This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of any or all other borrowers.

Get today's mortgage interest rates for your situation in Barnstable, MA.