Ryan’s Mortgage Blog:
As always, there is a lot of watching and waiting going on in terms of rates. The Feds suggested another possible rate decrease may be coming soon, but as we saw last time it caused long term rates to go in the wrong direction. Rates this week eased up a bit on both Jumbo loans and long term rates. There are three economic reports coming out Friday that may cause a shift it rates as well.
One significant problem we are facing is the value of our dollar. It has fallen on its face and needs to get back up. The dollar has depreciated to an all time low compared to its peers over the last week. Foreign investors are shying away from treasuries and mortgage backed securities. Until this changes, it will be difficult for mortgage rates to go much lower.
Off topic….what a time for sports!! Football is in full swing both at the college and NFL levels and has been very unpredictable, making for great games. The final four in the MLB have been decided and the World Series is fast approaching. I am pulling for the Diamondbacks and the Indians, even though the Rockies have had the best streak I have ever seen. Preseason basketball is here and the Celtics are looking tough with their Yankee style off season transactions. The MLS soccer playoffs are forthcoming and the LA Galaxy still have a shot…but it’s a long one. My friend Gavin Glinton has had a couple game winning goals for the team over the last month, so I just wanted to say how proud of him we are!! Keep it up!
Ok, enough sports for now…if you have any mortgage related questions, feel free to contact me at RBaker@PeregrineLending.com or 805-540-0866