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 If you are looking for a Mortgage Professional who will give you the type of service that you deserve, contact Bob Amato (NMLS # 8632) and Empire Home Mortgage Inc. (NMLS # 44882). We answer our phones seven days a week until 9PM. Put us to the test! Our toll free number is (866) 742-5227.

 Visit our website, www.empirehomemortgageinc.com . There you can get answers to all of your financing questions, view rates and search for foreclosed properties.

  If you are considering locking in an interest rate for a New York mortgage or a Florida mortgage, read this post.

  Tuesday’s bond market opened down slightly despite the release of weaker than expected economic data. The stock markets are showing minor gains with the Dow up 27 points and the Nasdaq up 12 points. The bond market is currently down 3/32, which will likely keep this morning’s mortgage rates near yesterday’s levels.

 Today’s only relevant economic data was March's Consumer Confidence Index (CCI) late this morning. The Conference Board announced a reading of 63.4 that fell short of expectations and indicates that consumers were less optimistic about their personal financial situations than many had thought. Analysts were expecting a reading of approximately 65.0 for March, making this data good news for the bond market and mortgage rates. Unfortunately for mortgage shoppers, this was not enough of a variance on a positive morning in stocks for the data to improve this morning’s mortgage pricing.

 Also worth noting is today’s 5-year Note auction. The Treasury Department is selling these Notes today and 7-year Notes tomorrow. The results of the sales will be posted at 1:00 PM ET. If they are met with a strong demand, particularly tomorrow’s auction, we may see bond prices rise during afternoon trading and mortgage rates move lower. However, if the sales are met with a lackluster demand from investors we may see rates move higher during afternoon trading.

 There is no relevant government economic data scheduled for release tomorrow, but there are a couple of private sector employment-related reports being posted. They are not considered highly important to the bond market or mortgage rates because they have not been accurate in predicting results of government reports. We may see some reaction to them if they reveal a surprisingly significant indication of employment strength or weakness. However, I don’t believe they deserve much concern or attention in regards to mortgage pricing.

 If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers.

 Empire Home Mortgag Inc. is a registered Mortgage Broker with the NYS and Fl Banking Depts and our loans are arranged through third party providers.

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