iknowamortgageguy.com

01.21.16-Taking a breather or waiting for the other shoe to drop?

Looks like a breather in the markets today. Half of yesterdays volume at the same point, jobless numbers were higher then estimate and Philly Fed was still in negative territory but better the forecasted. European Central Bank left their rates unchanged in this mornings news conference. Draghi states lack of inflation and continued low inflation is a concern and that further easing and other instruments are available to improve the economy. EU is basically kicking the can down the street until early March's Meeting.

In the US we still see a lack of inflation and lack of income growth as a concern world wide, even to the extent that we may only 1 Fed rate hike in 2016. And that is just in case they need to reduce to zero or turn to negative return in the event this is a prolonged sell off and truly the front end of a recession.

Choppy day in trading for Treasuries and Mortgage Backed Securities a little buying in the stock market is taking the steam out of our morning. Little better rates this morning and we were heading towards some positive repricing but we are starting to move sideways to higher now.  

Still a great day to shop for a low rate mortgage with NO origination or Lender Fees and never an Application Fee. Perfect or less than Perfect credit and when other say NO call me.