Mortgage Rates in Flux, They are News Driven, But Ignore the News

The interest rates are on the low end of the cycle, but there has been a lot fluctuation in rates over a week, or even in a single day. It can be news driven by economic numbers, the China trade issues, or even a tweet…

One thing for sure, the Freddie Mac information released by the media every week is obsolete information. The “Rates are at Historic Lows” or “Rates Have Jumped Higher” on the new reports are generally garbage. It’s always a week in arrears, and has no basis on reality of that moment. It does make my phone ring by clients inquiring what’s up? Which is a good thing.

Today the news reported the rates are back at historic lows… Check out the attached chart. As I’ve conveyed numerous times, rates have been coming down substantially over the past year. But they’ve actually popped up over the past week. The Stochastic Crossover shows a change in momentum sending rates higher, starting “a week ago”!

Rates are still great, but if you heard the Freddie Mac report released today, you’d thing they just dropped and at “historic lows”.

Of course the information in this blog is now obsolete, because it’s being written 12pm on October 10 2019. If you are interested were rates are “right now” (whenever that is), you have to give me a call 🙂

BTW I go more by technical analysis more than fundamentals, as it takes the news noise out, and gives the reality of what rates are doing, not the perception of what they should be doing.

If you are in the Los Angeles area, have any questions or real estate sales or financing needs, feel free in contacting me

Ron Henderson GRI, RECS, CIAS
President/Broker
Multi Real Estate Services, Inc.
Gov’t Affairs Chair – California Association of Mortgage Professionals (2017-2018)
Chairman – OutWest Marketing Meeting (Real Estate Education)
BRE #00905793 NMLS #310358
www.mres.com
ronh@mres.com
Specialist in the Art of Real Estate Sales and Finance
Real Estate market, mortgage rates, Los Angeles, San Fernando Valley, Conejo Valley, Simi Valley, Woodland Hills, West Hills, Calabasas, Chatsworth