Call: 310-859-0488 REQUEST A QUOTE →

Market Commentary – 7/24/15

Posted on July 24, 2015 by Conrad Juliá

The only big economic news this week was that first-time unemployment benefits fell to a 42-year low further supporting a strengthening US economy.

Interest rates mildly moved down this week in response to a down stock market, but remain range-bound. Looking ahead, most experts feel that interest rates are predicted to creep upward, especially in the event the Federal Reserve increases its interest benchmark (the Feds Fund Rate) in September 2015.

Next week will be interesting with the two-day Federal Open Market Committee (FOMC) convening July 28th and 29th, and 2nd quarter Gross Domestic Product (GDP) growth numbers due out.

With the 10-year U.S. Treasury hovering around 2.26%, our posture remains biased toward locking in loans ahead of the FOMC meeting and GDP growth report. These two events could have major positive or negative implications for interest rates next week.

(Visited 47 times, 1 visits today)

These are the opinions of the author. For financial advice, please talk to your CPA or financial professional.

Find out how we can craft your Individualized Lending Solution

GET A QUOTE →

Insignia Mortgage corporate NMLS #1277691 and DRE #01969620

Copyright © 2015 Insignia Mortgage All Rights Reserved. 9595 Wilshire Blvd. Suite 205 Beverly Hills, CA 90212

Site designed and built by Executionists

(1) Disclosures

(1) No Tax Return loans and foreign national loan products require other forms of income documentation and asset verification in lieu of tax returns. Not all applicants will qualify. Some products we oﬀer may have a higher interest rate, more points or more fees than other products requiring more extensive or different documentation. (2) Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Loan to values (LTV) are based on appraised value. Actual closing times will vary based on borrower qualiﬁcations and loan terms. All loans are subject to credit approval. (3) With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Insignia Mortgage, Inc. loan officer to determine what your payments might be once the interest-only period ends. (4) With an adjustable rate mortgage (ARM), once the fixed rate period ends, the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Insignia Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends. (5) Insignia Mortgage, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, DRE #01969620, NMLS #1277691

(2) Disclosures

(1) Minimum FICO, reserve, and other requirements apply. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. Rates, points, APRs and programs are subject to change without notice. Actual closing times will vary based on borrower qualiﬁcations and loan terms. All loans are subject to credit approval. (2) “Loan to Cost” (LTC) is defined as the acquisition price of the property plus the cost to build as determined by a bank appraisal. Contact your loan officer for additional program guidelines, restrictions, and eligibility requirements. (3) With an interest-only mortgage payment, you will not pay down the loan's principal balance during the interest-only period. Once the interest-only period ends, your payments will increase to pay back the principal and interest. Rates are subject to increase over the life of the loan. Contact your Insignia Mortgage, Inc. loan officer to determine what your payments might be once the interest-only period ends. (4) With an adjustable rate mortgage (ARM), the loan payment will adjust after an initial period and then adjust on a regular basis as set forth in the loan documents. For example, a “3/1” loan will have an interest adjustment 3 years after the loan closes and every 12 months thereafter. Also, the loan will be subject to annual and lifetime adjustment caps. Contact your Insignia Mortgage loan officer to determine what your payments might be once the fixed rate period of the loan ends. (5) Insignia Mortgage, Inc., is a real estate broker licensed by the CA Bureau of Real Estate, DRE #01969620, NMLS #1277691.