Rate Watch 10/24/08: Locking

Good economic news in the market is not helping Bonds this morning. With the good news, Stocks are still suffering here and especially suffering internationally and specifically in Japan where profits for major companies have been announced and profits are off.

Existing Home sales here were reported at a 5.50% increase over last month and at their best levels in 13 months. Oil is down again today to $64 per barrel, and just like when the dollar was weak and we saw $146 per barrel oil, the dollar is gaining strengh against foreign currencies and oil prices are dropping. As you have heard before in my Rate Watch, lower oil is good for bonds (lower inflation).

For now, on the technical side, since we have now gone below the important 200 day moving average, I am recommending Locking as we continue to see Bond prices erode since yesterdays alert to lock and prices again opened lower this morning.

Rate Watch 10/23/08: Floating

This morning Bond prices were bouncing around as Stocks traded within a 552 point swing. My recommendation this morning was to Float and by 2:41 MST I called for an alert to lock with the Bond market worse by 38 basis points since rate sheets came out.

We are seeing a Bearish Morning Star Pattern forming in the Bond Charts and Volatility in the Bond market has returned after several really good, somewhat predictable, days in the Stock and Bond Market. The Floor of support is the 200 day moving average, which as you might remember, I was VERY excited about breaking through on the way up in Bond Prices.

We ended the day at 101.41, right at the 200 day moving average of 101.42. We had a 38 point loss in the Bond Market today and Bonds will be hoping for more bond friendly news like we got today to help: Jobless claims were higher, highest in 5 years and jobs lost in the Securities Industry with Goldman Sachs announcing 2300 layoffs today not at a total of 125,000 jobs lost.

Most money now being created with Stock selling is being parked in US Treasuries, rather than Mortgage Backed Securities. The recent boost we received in Bond prices was because PIMCO, the largest MBS investor in the world, renewed their interest in MBS for the past two days. They still have this interest in MBS, so I am not too concerned that the Bond prices will suffer, but there are some technical head winds ahead and I will watch closely and advise you of the direction of rates.

Realtor Thank You

"Marty is awesome to work with. He is very honest and organized. Marty is always on top of the transaction and I've never worried about deadlines being met. My clients felt very comfortable working with him and he got them the best deal! He has a lot of experience and it shows. I highly recommend him to anyone looking for a top notch loan officer." Rachael Elliott-Utah Select Realty, Cell 801-898-2358 (Austin is Realtor partner and husband)

Realtor Thank You

"Thanks Marty for going beyond the call of duty to get the financing in place for Myka's first home. Everything went so smoothly. Also, thanks to Misti and Sheri for all your extra work. You are true professionals!!" Ava Felt-Associate Broker-REMAX Realty Group., Cell: (801) 668-1484

Rate Watch 10/21/08: Carefully Floating

Bond Prices are testing multi month highs after yesterdays strong rally where we saw prices move higher through the 25, 50, 100 and 200 day moving averages. Today we are seeing Stocks take a breather, after a 400 point increase yesterday, as sour earnings reports for 3 major companies are released. For now, I recommend carefully floating as we continue to hover above the 4 floors of support, which were the ceilings we needed to break through yesterday! Yesterday was a very good day for Bonds!

Rate Watch 10/20/08: Floating

Bonds prices are improving nicely this morning with no economic reports out today and with Ben Bernanke's meeting with the House Finance Committee this morning. While there is still inherent volatility in the markets, there may be a sense that the financial moves the Government has taken with the financial rescue package may be beginning to work. For now, I recommend Floating as we watch to see how far the Bond Price recovery goes today.

Buyer Thank You

"Marty is awesome! Excellent personalized service! I totally trust his opinion and feel he is there to help me and my situtuation!" Elizabeth G., Loan#992405

Buyer Thank You

"I had someone else helping us for over a month and couldn't get it done. Marty got it done in a week! Marty, thanks for all your help!" Clint and Liz T., Loan# 991606

Buyer Thank You

"Marty did an excellent job of simplifying the loan process and explaining the entire loan process to me. Expert processing! This experience was better than previous loan experiences I have had before and I will recommend him to others!" Carolyn W., Loan#991606

Buyer Thank You

"Keep up the great work! Way above excellent in meeting our closing date, keeping us informed of the status of our loan and the personalized service!" Stewart and Jill D., Loan#992805

Myka, Mac and Ava Felt

Mac, Ava Felt-RE/MAX Associated Realtors, Myka Felt and Marty Qualls at Myka's closing on October 16, 2008. Eric Rose, First American Title, Escrow Officer.

Realtor Thank You:

"Thanks Marty for going beyond the call of duty to get the financing in place for Myka's first home. Everything went so smoothly. Also, thanks to Misti and Sheri for all your extra work. You are true professionals!!" Ava Felt-Associate Broker- REMAX Realty Group, Cell: (801) 668-1484

Denny and Brittney Green

Austin Elliott-Utah Select Realty, Brittney and Denny Green, Marty Qualls, closing with Escrow Officer Tyler Johnson at Inwest Title on October 8, 2008.

Buyer Thank You:

"Marty, thanks for your help! We feel like you have worked hard for us, and helped us get a great interest rate. thank you for your advice, and for helping us understand how the mortgage world operates. We look forward to working with you in the future!" Denny and Brittney Green, Loan#080810

Realtor Thank You:

"Marty is awesome to work with. He is very honest and organized. Marty is always on top of the transaction and I've never worried about deadlines being met. My clients felt very comfortable working with him and he got them the best deal! He has a lot of experience and it shows. I highly recommend him to anyone looking for a top notch loan officer." Rachael Elliott-Utah Select Realty, Cell 801-898-2358 (Austin is Realtor partner and husband)