Greg Cignarella

a path to homeownership for a non-US citizen is available at Nationwide Mortgage Bankers. See below to learn how.

see below for another mortgage market update.

Mortgage rates update revisited... this morning's employment report came in stronger than expected and while the bond market initially reacted as expected by moving yields significantly higher they've since retreated close to where the market closed yesterday. The labor market is certainly in better shape but there's a long way to go in terms of economic recovery. One sour note in the report was an increase in the number of permanent layoffs. Gains this morning came from th...ose on temporary layoffs. In terms of where mortgage rates go from here, I don't expect mortgage rates to fall unless a new catalyst presents itself such as the UK covid strain gaining ground in the US (certainly a tragic event). Fed Chair Powell certainly isn't a fan of higher yields as it may impede the recovery so he may come to the rescue by simply saying "they're concerned". The market will take this as a sign that the Fed may ride in on a white horse and force yields lower. In the near term, I expect mortgage rates will stay around current levels, possibly lean higher. I will be closely watching secondary economic indicators such as inflation figures and weekly jobless claims as directional signals. Reach out if you'd like a quote on current mortgage rates: [email protected] or 516-316-4873 #mortgage #refinance #lenders #loan #realestate #firsttimehomebuyer

Mortgage rate update ... lending rates moved a little higher today on the heels of Fed Reserve Chairman Powell's remarks that he means to keep short-dated rates where they are so as not to derail a frail economy on the mend. The interest rate market, however, fears that a stay-the-course Fed risks runaway inflation thereby requiring higher long-dated rates to compensate (which includes mortgage rates). Falling gold prices and a stronger dollar tells me that the broader marke...t isn't worried about inflation but go tell that to bond investors . As I wrote previously, Friday's unemployment report will be the key near-term driver of mortgage rates as it will be a strong indicator of economic strength. Here's how I see it: ROBUST HIRING - mortgage rates will go higher WEAK HIRING - mortgage rates will drop my bet is on a weak report due to the February winter storms and deep freeze in the south which sidelined hiring demand and potential hires. BE READY TO LOCK IN YOUR MORTGAGE RATE IF WE REVERSE THE TREND AND HEAD BACK TO THE LOWS. DM with questions or opinions. Email me at [email protected] #mortgage #Realtor #firsttimehomebuyer #homebuyers #refinance #loan #realestate #refinancemortgage #cashoutrefinance

Here's some intel on mortgage rates for homebuyers and those thinking of refinancing... Rates have moved quite a bit higher the last few weeks and this Friday ...will be a critical test of where rates go from here. WHY? Well ... Friday is the all-important February employment report as released by the Labor Dept. This report is the KEY economic metric as viewed by the equity and interest rate markets and will drive where things go from here. A strong labor number will add to the belief that the back-to-normal recovery is around the corner and along with it is an increased risk of future inflation . The interest rate market will respond by pushing mortgage rates higher to compensate. A weak report will likely have the opposite effect. It means that employers are taking a cautious approach to the economic recovery and are therefore holding off adding staff until there's greater certainty. I would then expect long-dated interest rates and mortgage rates to drop from the highest level in a year STAYED TUNED!! MORE TO COME!!