The week ahead

Forwarded exclusively by:	Bob Rosenbaum The Rosenbaum Lending Group Office: (703) 879-5200 Email: Bob@MyTalentedLender.com website: www.MyTalentedLender.com NMLS#: 649782
Monday, April 21, 2014
Rates At a Glance Mortgage Rates Currently Trending 7 Day Mortgage Rate Forecast This Week's Potential Volatility NEUTRAL NEUTRAL FAIRLY HIGH (by Sigma Research) Realtor Report U.S. Housing Starts Climb in March: The Commerce Department reported that groundbreaking increased 2.8 percent to a seasonally adjusted annual rate of 946,000. Plus, February's data was actually better than first released. As February's starts were revised to show a 1.9 percent rise rather than the previously reported 0.2 percent fall. Gaines in home building has been difficult as a brutally cold winter weighed on home building in December and January. Activity has also been hampered by shortages of building lots and skilled labor as well as rising prices for materials. Groundbreaking for single-family homes, the largest segment of the market, surged 6.0 percent to a 635,000-unit pace last month. Starts for the volatile multi-family homes segment fell 3.1 percent to a 311,000-unit rate.  This Week's Mortgage Rate Summary How Rates Move: Lenders base their rates largely on the price movement of Mortgage-Backed Securities (MBS) which are traded in real time, all day, on the bond market.  This means mortgage rates and/or fees (mortgage pricing) often times move throughout the day, being affected by a variety of economic or political events.  It’s important to know that when MBS pricing goes up, mortgage rates or pricing generally goes down.  When they fall, mortgage pricing goes up.  Tracking these securities real-time is critical.  For more information about the rate market, contact me directly.  I am among very few mortgage professionals who have access to live trading screens during market hours. Rates Currently Trending: Neutral Rates have been stable, as reported by Sigma Research. The overall improvement for last week for the MBS market was -66 basis points, which may mean a slight worsening in mortgage pricing. This Week's Rate Forecast: Neutral According to Sigma Research, mortgage pricing is likely to be stable this week. There are few key economic releases this week, and the Ukrainian situation should continue to be monitored. This Week's Potential Volatility: Fairly High Sigma Research says this week the MBS market could see volatility due to movement in the equity (stock) markets, as well as overseas concerns. There are always unforeseen events that may arise which are not expected. We'll be keeping an eye on all breaking news related to mortgage pricing. Bottom Line: If you are looking for the risks and benefits of locking your interest rate in today or floating your loan rate, contact your mortgage professional to discuss it with them. About this Report and Forecasting This information is shared with you by your Most Trusted Mortgage Loan Professional and is provided by RateAlert.com, the industry's Most Trusted source for mortgage interest rate market data, analysis, and alerts. For details about your specific home loan scenario, please contact your Mortgage Loan Professional. All information furnished has been forwarded to you and is provided by thetbwsgroup only for informational purposes. Forecasting shall be considered as events which may be expected but not guaranteed. Neither the forwarding party and/or company nor thetbwsgroup assume any responsibility to any person who relies on information or forecasting contained in this report and disclaims all liability in respect to decisions or actions, or lack thereof based on any or all of the contents of this report.
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