Mortgage Watch Report

By Buying, Selling January 2, 2023
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Mortgage Watch Report 12/30/22

Mortgage Rates have risen this week as Mortgage Bond (MBS) prices fall in light trading and with yearend tax selling.  Stock market is selling off this week for the same reasons. This type of volatility is typical and can be good or bad for bonds & the stock market.  Today’s final trading day (Market closes early at 11:00am) is shaping up to be bad, with the help from stronger Chicago PMI data with actual coming in at 44.9, traders were looking for 40.0 (10+% beat) with previous read at 37.2.

Chart below shows 30yr MBS coupon has lost 78bps since Monday which equates to .375 to .50% higher rates since last Friday.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Bottom Line: Expect markets to reposition this downward trend when markets re open on Tuesday January 4th of 2023.

Here are lockable rates today:

 

 

 

 

 

 

 

 

 

 

 

 

 

SOURCE & AUTHOR |

Keith Murphy Branch Manager – Essex Mortgage NMLS #330827

Direct: 714-309-1140

Apply: www.GoTeamMurphy.com

About the Author
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Tim Morissette, REALTOR®

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.