Mortgage Watch

Mortgage Rate remain the same today as they were last Friday (see chart below), In week-over-week terms, rates were still decidedly higher at the beginning of the day on Thursday 9-9-2021. It wasn’t until the Thursday afternoon’s 30yr bond auction that the entire bond market improved enough for mortgage to improve mid-day.

If you want to have your finger on the pulse of daily Mortgage Rate movement just watch the 10yr Treasury Yield and mortgage rates move in tandem. (*remember = mortgage rates move UP/DOWN based on the buying and selling of Mortgage Backed Securities or MBS. It’s a supply vs demand equation).

Here is a link you can bookmark to watch the 10yr TSY on your phone: (the CNBC app is free and easier to watch than via your browser)

Why do Treasury auctions matter to mortgage rates?  Treasuries and MBS (mortgage-backed securities–the bonds that most directly affect mortgage rates) are both part of the bond market.  They correlate quite well for a variety of reasons (not the least of which being that Treasuries are the risk-free starting point against which every dollar-denominated bond investment is measured).  As such, when Treasuries have a good day, MBS (and thus, mortgage rates) tend to have at least a decent day.  Today (like yesterday) was no exception.

Bottom Line: Rate are most likely to worsen by Monday due to today’s Producer Inflation Index accelerated in August as wholesale price ROSE to a RECORD 8.3% from a year ago.  LOCK!

BTW – share the attached flyer with your buyers who are nervous or sitting on the fence.  This class is held EVERY month on Zoom and is FREE!  Ask me about proven best marketing practices Realtor’s are using to generate new buyers leads with this class!

Keith Murphy
Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Team Fax: 866-762-0458

Email: [email protected]




Contact Keith’s Assistant – Saudy Esparza

Direct: 714-600-6523

Email: [email protected]

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About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 46 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and sons Matt and Jeff, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 26 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, paper shredding and e-waste recycling event, an Easter egg hunt, & a Meet Santa Event.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.