MORTGAGE WATCH

Mortgage Rates are better this week due to Fed’s Jackson Hole announcement that the much anticipated tapering (buying less mortgage and treasury bonds) will be put on hold at least until the end of the year. This is significantly GOOD NEWS to bond investors who buying hand over fist and pushing up bond valuations/lowering yields as the Feds liquidity/buying remains intact.  This morning, more good news for rates (remember that economic uncertainty is GOOD for rates and capital flows to bonds for protection, which again pushes up bond prices/lowering rates) as the NFP report showed 235,000 new job created vs 720,000 anticipated.

Bottom Line: This is a HUGE miss and shows the economy is still being compressed due to inflation and increasing COVID cases.  This news should lead to stable or better mortgage pricing into next week.

 

SOURCE & AUTHOR |

Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Apply: www.GoTeamMurphy.com

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 43 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and son Matt, 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 23 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, as well as sponsors Paper Shredding and E-Waste Recycling events twice a year.

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.