Author bio section

I am the author of this blog and also a top-producing Loan Officer and CEO of InstaMortgage Inc, the fastest-growing mortgage company in America. All the advice is based on my experience of helping thousands of homebuyers and homeowners. We are a mortgage company and will help you with all your mortgage needs. Unlike lead generation websites, we do not sell your information to multiple lenders or third-party companies.

Mortgage Rates update for San Jose and rest of California. The week that was: A bad one for the rate markets. Mortgage rates increased 12 basis points while the 10 yr note jumped 16 basis points. The chart below would tell you how volatile the mortgage rates were on Thursday and Friday.

  • After weeks of being contained in a narrow choppy range the rate markets broke out to the upside in terms of yield. After nine months of very strong demand for US debt, investors are not as willing to buy unless US interest rates increase to match the increasing deficits being generated in this administration’s spending binges.
  • As for higher rates; we are not expecting rates to move substantially higher from present levels this year, likely the 10 yr note will move up to 4.25% and mortgage rates increase another 50 basis points from current levels.

The week that will be:

  • It is all about the March employment data on Friday. Consumer confidence index on Tuesday and the Mar ISM manufacturing index on Thursday.
  • The March employment picture will change dramatically with a large increase in jobs, estimates are about 200K new jobs. How markets will take it will be key!
  • The debt markets will continue to monitor the developments in Europe with Greece, Portugal, Spain and Italy struggling to keep defaults from actually developing; sovereign debt failures would infect most bond markets including the US.

This week expect continued volatility in the interest rate markets, so it may be a good idea to lock your rates. I subscribe to live bond market movements and tweet about it. If you would like to be updated about live mortgage rates follow me on Twitter or get our Live Mortgage Rate Quote.

Related Posts

  • 90
    Mortgage rates were hammered last week after Fed officially stopped buying mortgage backed securities. Fannie Mae 30 year (4.5%) mortgage bond opened the week at 100.44, was down 97 bps for the week as it closed at 99.47 (see chart below). The mortgage rates for most of the programs had…
    Tags: mortgage, rates, week, rate, increase, pending, sales, single, family
  • 89
    San Jose Mortgage Rate & Market commentary. Check out how the 30 year fixed mortgage rate and 5 year ARM rates did last week and how they are expected to fare this week. The week that was: Last week Freddie Mac in its Primary Mortgage Market Survey reported the 30-year…
    Tags: week, mortgage, rates, rate, will, pending, sales, single, family
  • 89
    Your weekly dose of San Jose Mortgage Rates and Market commentary. The Week that was: Freddie Mac reported in its Primary Mortgage Market Survey that 30-year fixed-rate mortgage (FRM) averaged 4.98 percent with an average 0.6 point for the week ending January 28, 2010, down slightly from last week when…
    Tags: week, mortgage, will, rates, pending, sales, single, family
  • 83
    Last week mortgage rates for San Jose homes eased back to the lowest level of the year. According to Freddie Mac's Primary Mortgage Market Survey 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it…
    Tags: mortgage, rates, week, pending, sales, single, family
  • 81
    The week that was: Not much in the way of economic measurements last week; it was a four day week for the bond and mortgage markets with Veteran's Day falling on Wednesday. Weekly MBA mortgage applications index was +3.2% from last week; it was all re-finances, its index up 11.3%…
    Tags: week, mortgage, rates, will, economy, rate, pending, sales