MORTGAGE RATE COMMENTARY

Tranquil Milwaukee Mortgage Rates

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Mortgage Backed Securities are MINUS 3bps this morning.

I remember the days when I would get up at 5am and starting watching to see how the markets were moving. It would tell me how busy my day would be. The current policy by the Fed has taken all the volatility out of the market.

Today the equity markets took a small hit on worries over Eurozone debt. Like we have not heard that song before. The markets opened lower and are now moving higher. We could surmise that it is based on the better than expected retail numbers or the lower unemployment figures. Some are saying that the Fed may step in with QE3 to jump start a flat economy. That usually causes the market to rally.

There is no clear direction for the equity markets. We have been told that interest rates will remain low for an extended period of time. The Fed has done a great job of holding to its word. Earnings season starts next week with Alcoa kicking it off on Monday. Good earnings and decent forecasts could put a ripple in these tranquil waters. Then the Eurozone will falter on some promise that they made and we will be right back where we started.

Milwaukee interest rates are at historic lows. When rates reverse it will be hard to catch the train. Refinance now while you can still take advantage.