Derek McClintock's Blog

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Mortgage and Lending - C2 Financial - NMLS# 331867
RECENT BLOG POSTS
The Numbers Just Don't Lie Here is a press release from Case Shiller showing just how dramatic the pricing increase is happening in the housing market. When factored in with rising interest rates, there is no reason for anyone to think that better value is coming - it's time to get in the game! C...
06/03/2013
Very early this morning the 10 yr traded at 2.17%, by 9:00 the note was unchanged from last Friday. The US stock market took a hit last Friday, the DJIA -208 points, this morning in pre-pen trading the DJIA +75. This week has been anticipated for two weeks, it is employment week. The drive higher...
06/03/2013
Fed's Influence on Mortgage Rates Shifting expectations for the timing of the Fed's move to taper its bond purchases were the main influence on mortgage rates this week and caused extremely high levels of daily volatility. Stronger than expected economic data and comments from Fed officials cause...
05/31/2013
This morning the stock market is opening weaker after the rally yesterday; the interest rate market early a little better but not much. At 9:00 the DJIA was down 75 points frm yesterday’s close, there was no change in the bond and mortgage markets even with lower stock markets here and in Europe....
05/29/2013
FOUR is not a 4 letter word With rates inching up by the day, it's easy to forget that we have spent years and years with rates well above 4%. Here's a graph from FRED, the Federal Reserve Economic Data, showing where rates have been over the last 30 years. The point is that now is not the time t...
05/28/2013
Markets started quietly this morning ahead of the coming three day weekend. At 8:30 April durable goods orders were better than estimates, +3.3% against +1.2% expected; ex the volatile transportation orders durables increased 1.3%, the first gain in three months. March orders were down 5.9%, revi...
05/24/2013
Prior to 8:30 this morning the 10 yr note at 2.01% down 2 bps frm yesterday’s huge increase; 30 yr MBS price up 26 bp after falling 98 bp yesterday. 8:30 we got weekly jobless claims, always important but now even more so after the Federal Reserve confused markets (and likely themselves) with con...
05/23/2013
Wow!  What a crazy last week for mortgage rates in San Diego, CA.  As you can see from the picture below, rates have taken A BIG turn for the worse.  The green candlesticks are good, meaning rates are getting better. The red candlesticks are BAD meaning RATES ARE GETTING WORSE (going up).  Also t...
05/22/2013
San Diego Mortgage Rates are affected -  The Mortgage Bankers Association, Fannie Mae and the National Association of Realtors have all projected that the 30-year mortgage rate will be at least 4% by the end of 2013. If we assume that rates will still be at 4% in twelve months, here is the differ...
05/22/2013
Early this morning the interest rate markets were unchanged from yesterday’s close; by 9:30 though the 10 yr note yield had increased to 1.90% frm 1.88% and 30 yr MBSs -16 bp frm yesterday’s close. The DJIA opened +40, NASDAQ +19, S&P +5; the 10 yr at 1.90%, mtg prices -16 bps.   There were no ec...
05/17/2013
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Derek McClintock

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