Here's your Daily Commentary report compliments of Jeff Drew and Star Mortgage!
Wednesday’s bond market has opened in negative after this morning’s economic data showed stronger than expected readings. The stock markets are in positive ground with the Dow up 98 points and the Nasdaq up 20 points. The bond market is currently down 6/32, but I am expecting to see a slight improvement in this morning’s mortgage pricing due to strength in bonds late yesterday.
The Commerce Department posted September’s Retail Sales figures early this morning, announcing a 1.5% decline in sales from August’s level. This was a smaller than expected drop, indicating that consumers spent more than many had thought. Even if more volatile auto-transactions are excluded, sales exceeded expectations. This is…
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©Mortgage Commentary 2009
* Please note that this information reflects just one opinion on the current market. If you are considering a purchase or refinance and have a mortgage rate and monthly payment you are comfortable with you may want to consider locking that mortgage rate. It is very difficult to predict the market in these very volatile times. Most lenders have a mortgage rate renegotiation policy. Contact Jeff Drew for details. Jeff@StarMortgage.com
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