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Updated on May 18, 2012 9:56:45 AM EDT EST
OpenClose Mortgage Software

Friday’s bond market has opened in negative territory with no relevant economic data being posted this morning, erasing a good part of yesterday’s afternoon strength. The stock markets are relatively flat with the Dow up 7 points and the Nasdaq up 1 point. The bond market is currently down 8/32, but due to strength late yesterday we should still see an improvement of approximately .125 of a discount point in this morning’s mortgage pricing.


Bond prices moved higher during afternoon trading yesterday, causing some lenders to improve their rates intra-day. If your lender did post revised pricing yesterday afternoon, you may see little change or a slight increase in this morning’s rates. However, if your lender waited until this morning to reflect that afternoon improvement, you should see slightly lower rates compared to yesterday morning.

There is nothing of relevance scheduled for release today, so I would not be surprised to see a fairly calm day in bond trading, assuming the stock markets don’t rally or go into selling mode. If the major stock indexes move noticeably higher than current levels, we may see bond prices worsen, likely leading to upward revisions to mortgage rates later today. On the other hand, if the Dow and Nasdaq fall well into negative ground, we could see the bond market recover this morning’s early losses and mortgage rates move slightly lower.

Next week doesn’t bring us any major economic reports or other events that are likely to be highly influential to bond trading and mortgage pricing. There is a handful of relevant economic reports scheduled in addition to two semi-important Treasury auctions, but none of them are considered to be highly important to the markets. None of the reports are scheduled for release Monday, so weekend news and Monday’s early stock trading will likely drive bond trading and mortgage rates that day. Look for details on next week’s events in Sunday’s weekly preview.

©Mortgage Commentary 2012

 

Caliber Funding LLC Corporate | Privacy & Security | Licensing & Disclosures
Caliber Funding LLC, 6031 Connection Drive, Suite 200, Irving, TX 75039 (NMLS #80636). 1-866-373-2968. Copyright©2010. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Caliber Funding LLC is required to disclose the following license information: Alaska Mortgage Lender License No. MTGLN100015, Phone No. (480) 358-2000; Arizona Mortgage Banker License No. 0910478; Licensed by The Department of Corporations under the California Residential Mortgage Lending Act, Finance Lender Licensee; CO: Regulated by the Division of Real Estate. Colorado Supervised Lender License #990063-001, check the license status of your mortgage loan originator at
http://www.dora.state.co.us/real-estate/index.htm; Georgia Residential Mortgage Lender License No. 23632; Illinois Residential Mortgage Licensee No. MB.6760640, by the Illinois Division of Banking, 320 West Washington St., Springfield, IL 62786, (217) 782-3000; Kansas Licensed Mortgage Company, License Number SL.0026203-BR.002; Minnesota: MN-MO 40135664, This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. Section 47.206 (3) and (4); Montana Mortgage Lender License No. 80636; Licensed by the New Hampshire Banking Department; Licensed mortgage banker n.s.--N.J. Department of Banking; Ohio MBMB.850102.000; Licensed by the Pennsylvania Department of Banking; Texas Mortgage Banker License No. 85037; Licensed by the Virginia State Corporation Commission, License Number MC-5339; Washington Consumer Loan Company License No. CL-80636. 

 

Caliber Funding LLC Corporate | Privacy & Security | Licensing & Disclosures
Caliber Funding LLC, 6031 Connection Drive, Suite 200, Irving, TX 75039 (NMLS #80636). 1-866-373-2968. Copyright©2010. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations apply. Caliber Funding LLC is required to disclose the following license information: Alaska Mortgage Lender License No. MTGLN100015, Phone No. (480) 358-2000; Arizona Mortgage Banker License No. 0910478; Licensed by The Department of Corporations under the California Residential Mortgage Lending Act, Finance Lender Licensee; CO: Regulated by the Division of Real Estate. Colorado Supervised Lender License #990063-001, check the license status of your mortgage loan originator at
http://www.dora.state.co.us/real-estate/index.htm; Georgia Residential Mortgage Lender License No. 23632; Illinois Residential Mortgage Licensee No. MB.6760640, by the Illinois Division of Banking, 320 West Washington St., Springfield, IL 62786, (217) 782-3000; Kansas Licensed Mortgage Company, License Number SL.0026203-BR.002; Minnesota: MN-MO 40135664, This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. Section 47.206 (3) and (4); Montana Mortgage Lender License No. 80636; Licensed by the New Hampshire Banking Department; Licensed mortgage banker n.s.--N.J. Department of Banking; Ohio MBMB.850102.000; Licensed by the Pennsylvania Department of Banking; Texas Mortgage Banker License No. 85037; Licensed by the Virginia State Corporation Commission, License Number MC-5339; Washington Consumer Loan Company License No. CL-80636. 

 

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National Headquarters

Caliber Funding LLC
6031 Connection Drive, Suite 200
Irving, TX 75039
(NMLS #80636)

Copyright © 2010 Caliber Funding LLC, All Rights Reserved

National Headquarters

Caliber Funding LLC
6031 Connection Drive, Suite 200
Irving, TX 75039
(NMLS #80636)

Copyright © 2010 Caliber Funding LLC, All Rights Reserved