Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now
Ted Gehrke
Loan Originator
NMLS# 240314
ted@turboloans.com
Desert Equity Lending, LLC
NMLS# 173369 MB-0906989
Phone: 602-881-1414
Fax: 480-219-0849
Scottsdale, AZ
Apply Now

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

AZ: 480-245-8995
CO: 720-775-9866
APPLY NOW

loans
apply now
MORTGAGE INTEREST RATES DROP TO HISTORIC LOWS!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
 
 
apply now
MORTGAGE INTEREST RATES DROP TO HISTORIC LOWS!
$1295 Total Closing Costs, plus Appraisal, Title, & Pre-paids
 
 
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989
Desert Equity Lending, LLC NMLS# 173369 | MB-0906989

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Market Commentary

Updated on February 16, 2018 10:21:25 AM EST

Januarys Housing Starts was posted at 8:30 AM ET this morning. The Commerce Department announced a 9.7% increase in new home groundbreakings, exceeding forecasts. The larger than expected rise is being attributed to a 34.7% spike in starts in the Northeast alone. Still, the stronger number of new starts makes the data bad news for bonds and mortgage rates because strong economic conditions make bonds less attractive to investors. Fortunately though, this report is not considered to be highly influential, preventing much of an impact on today’s rates.

The second release of the morning was Februarys preliminary reading to the University of Michigans Index of Consumer Sentiment at 10:00 AM ET. It came in at 99.9, also well above forecasts. Analysts had predicted a 95.5 reading that would have been down slightly from January’s 95.7. The higher reading indicates surveyed consumers were felt better about their own financial and employment situations than they did last month. Since rising confidence usually translates into stronger levels of consumer spending that fuels economic growth, this is also bad news for mortgage rates. However, as with the housing data, this report is not considered to be highly important and has had a minimal influence on this morning’s rates. This report will be updated again in two weeks.

Next week is not overly busy in terms of relevant economic data and other events that may affect mortgage rates. The markets are closed Monday for the President’s Day holiday. Some lenders may be open for business but will be using this afternoon’s rates or not issuing new rates until Tuesday morning. The rest of the week has a couple of lower or middle-tier economic releases along with the minutes from last month’s FOMC meeting and two Treasury auctions that have the potential to alter mortgage rates. Look for details on all of next week’s activities in Sunday evening’s weekly preview.

 ©Mortgage Commentary 2018

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CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

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Service Provider

 

 

CALL TODAY for your no obligation quote: 602-881-1414

Mortgage Lending State: Arizona and Colorado

Contact us:

Ted Gehrke
Fax: 480-219-0849
Direct: 602-881-1414
Email: ted@turboloans.com

The data relating to mortgage loans and/or real estate for sale on this web site comes in part from the Mortgage 101 program. All data on this web site is deemed reliable but is not guaranteed.

This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other expert assistance is required, the services of a competent, professional person should be sought. The information contained in this publication is subject to change without notice.

DESERT EQUITY LENDING, LLC MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. DESERT EQUITY LENDING, LLC SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MATERIAL.

security Provided by OpenClose Proud Partner of OpenClose for 11 yrs
Service Provider