Todays Rates: Purchase - 30 Year Fixed Conforming: 2.625%   APR: 2.718%     15 Year Fixed Conforming: 2.250%   APR: 2.352%      30 Year Fixed High Balance: 2.875%   APR: 2.935%          REFINANCE - 30 Year Fixed Conforming: 2.875%   APR: 2.970%     15 Year Fixed Conforming: 2.500%   APR: 2.638%      30 Year Fixed High Balance: 3.000%   APR: 3.099%

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The Casil Report: Market Analysis

According to the most recent Freddie Mac Primary Mortgage Market Survey, rates have hit new lows. The 30 Year Fixed Rate Mortgage is now averaging 3.15% with 0.80 points. The 15 Year Fixed Rate Mortgage is averaging 2.62%with 0.70 points. The primary reason for the drop in mortgage rates is due to the Federal Reserve … Continue reading “The Casil Report: Market Analysis”

Mortgage and Housing Outlook: 2018

by Stephen Casil Vice President Secondary Marketing Manager scasil@elyons.com Where do I see mortgage rates going in 2018? According to the Freddie Mac Weekly Primary Mortgage Market Survey (PMMS), the average 30 Year Fixed Mortgage Rate dropped by approximately 0.25% in 2017, from 4.20% at the beginning of 2017 to 3.99% at the end of … Continue reading “Mortgage and Housing Outlook: 2018”

The Casil Report: A Financial Commentary on the Mortgage Markets

Good afternoon, Today, Friday (11/03/17): The 10 Year Treasury Yield dropped slightly to 2.33%, meaning generally lower mortgage rates than yesterday. – The October 2017 U.S. Employment (Jobs) Report was released today. -> The Unemployment Rate dropped to an almost twenty year low at 4.1%, coming in lower than market expectations (4.2% Unemployment Rate). However, … Continue reading “The Casil Report: A Financial Commentary on the Mortgage Markets”

Lyons Fall 2017 Mortgage & Housing Outlook

A continued decline in mortgage rates could have an added positive effect on housing demand for the fall home-buying season.  The average 30 year fixed rate mortgage rate has dropped to a year-to-date low from 3.93% to 3.78% over the past three months, according to the Freddie Mac Primary Mortgage Market Survey (PMMS). Once more, … Continue reading “Lyons Fall 2017 Mortgage & Housing Outlook”

The Casil Report – A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil

Good afternoon, Today, Friday (07/14/17): The 10 Year Treasury Yield dropped to 2.32%, meaning generally lower mortgage rates than yesterday, mostly due to the worse than expected Retail Sales report below:  – June 2017 U.S. Retail Sales decreased by 0.2% (0.1% decrease during the previous month), coming in worse than market expectations (0.1% increase).  In addition, excluding gasoline and auto sales, retail sales dropped … Continue reading “The Casil Report – A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil”

The Casil Report – A Financial Commentary on the Mortgage Markets, March 1, 2017

Good afternoon, Today, Wednesday (03/01/17): The 10 Year Treasury Yield rose to 2.46%, meaning generally higher mortgage rates than yesterday, due to positive market reaction to President Trump’s joint address to Congress along with an increase in market expectations for a Fed rate increase this month. – January 2017 U.S Personal Income increased by 0.4% (previous month increased by 0.3%), meeting market expectations … Continue reading “The Casil Report – A Financial Commentary on the Mortgage Markets, March 1, 2017”

Spring 2017 Housing & Mortgage Outlook

What can home-buyers expect in the 2017 Spring Housing Market? Rising mortgage rates might have an adverse demand on housing during spring home-buying season. The average 30 year fixed mortgage rate has risen from 3.47% to 4.13% over the past two months, according to the Freddie Mac Primary Mortgage Market Survey (PMMS). The major reason for this … Continue reading “Spring 2017 Housing & Mortgage Outlook”

A Special Report: What will Brexit mean for the US Mortgage Markets?

Voters in the United Kingdom last week unexpectedly passed a referendum to leave the European Union. This ‘Brexit’ shock caused worldwide distress in the financial markets, due to sudden uncertainty about the UK’s economic prospects and worries about a possible contagion effect in which other countries could also decide to leave the EU.   What are the global financial market implications of … Continue reading “A Special Report: What will Brexit mean for the US Mortgage Markets?”

The Casil Report, a Financial Commentary on the Mortgage Markets: May 19, 2016

Good afternoon, Today, Thursday (05/19/16): The 10 Year Treasury Yield dropped slightly to 1.85%, meaning generally lower mortgage rates than yesterday. – U.S. Weekly Jobless Claims dropped to a 278K reading this week (294K during the previous week), meeting market expectations (278K).  In addition, the less volatile, four week moving address for jobless claims rose this week, to a to 276K level. Even with this gradual … Continue reading “The Casil Report, a Financial Commentary on the Mortgage Markets: May 19, 2016”

The Casil Report – A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil

Good afternoon, Today, Friday (04/15/16): The 10 Year Treasury Yield dropped to 1.75%, meaning generally lower mortgage rates than yesterday. – March 2016 U.S. Industrial Production (output at factories, utilities and mines) decreased by 0.6% (0.6% decrease during the previous month), coming in worse than market expectations (no change this month). This month’s drop in industrial production, mostly due to a decline in all three factors: manufacturing, utilities, and mining, could be an … Continue reading “The Casil Report – A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil”

The Casil Report: A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil, March 15, 2016

Good afternoon, Today, Tuesday (03/15/16): The 10 Year Treasury Yield remained even at 1.96%, meaning generally similar mortgage rates as yesterday.   – February 2016 U.S. Retail Sales decreased by 0.1% (0.4% revised decline during the previous month); however, it met market expectations (0.1% decrease).  However, excluding gasoline and auto sales, retail sales actually rose 0.3% from the prior month.  The 0.3% rise in this … Continue reading “The Casil Report: A Financial Commentary on the Mortgage Markets by Lyons Vice President, Stephen Casil, March 15, 2016”

The Casil Report, a Financial Commentary on the Mortgage Markets – February 16, 2016

Good afternoon, Today, Tuesday (02/16/16): The 10 Year Treasury Yield rose to 1.78%, meaning generally higher mortgage rates than Friday. – The February 2016 NAHB (National Association of Homebuilders) Housing Market Index dropped to an Index Level of 58 (Index Level of 61 during the previous month), coming in lower market expectations (Index Level of 60). This month’s drop in the NAHB Housing Market Index, mostly due to builder concerns regarding a lack of available lots and … Continue reading “The Casil Report, a Financial Commentary on the Mortgage Markets – February 16, 2016”

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