Mortgage Watch

Mortgage Rates are improving today with a stronger than expected Jobs Report, including BIG positive revisions to the past few months data and “another” drop in the unemployment rate.  All of these data point would “typically” be bad for mortgage rates, this new is actually improving rates.  All of this comes after Wednesday’s Fed Announcement confirming that Tapering will begin this month with a 15 billion dollar curtailment with intentions to be completely out of the bond market in then next 6 months.

With less demand (few buyers aka Fed Taper) and significantly improving economics, and a stock market that it roaring, this would all point to higher rates…but the market is seeing something else. At times, when the news that we all fear “like tapering” is formally out, the market rallies. This happens because traders stay ahead of the curve and began pricing in the move well in advance of anyone else thinking about it. However, traders do not like surprises so they often over compensate, which leaves room for price to move up, once the news becomes official.  I believe this is what is happening in the capital markets right now.

Bottom Line: Rates are improving! Here is what is a snip of what is lockable right now:

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]

“A referral is sending someone you care about to someone you trust!”

In 2020, we received 1.87 referrals every day. Thank You for referring your family & friends to us!

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.