Mortgage Watch Report

Mortgage Rates are flat from last week, and this morning there is heavy selling pressure pushing bond prices down, which pushes rates up.  We have not seen reprices yet, but there are most likely coming soon.

We have some headwinds to be cautious of right now with Washington D.C. gridlocked on raising the debt ceiling.  This has created some fear/uncertainty for a possible US default on debt (if you were China or Japan and you held trillions in US TSY debt, and you thought this was a real possibility, would you sell your holdings and recapitalize, or let it ride?)  This appears to be where most of the selling pressure is coming from today.

Bottom Line: Rates are basically flat from last week, but would LOCK now and protect.

Here are lockable rates as of 10:00am PST:

















Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140


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.