Elite Realty Group
442 E. Economy Rd
Morristown, TN 37814
Phone: 423-307-8566
Fax: 423-307-1051
Email: mike@elkinsteam.com
Equal Housing Opportunity
Licensed in Tennessee
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Baths
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 Morristown TN Homes For Sale - Elite Realty Group provides services with Morristown TN Real Estate For Sale to home buyers and home sellers in Morristown Tennessee, Hamblen County Tennessee, Talbott, Russellville, Whitesburg, Bean Station, Grainger County, and surrounding communities.
We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others.

Mortgage News

MBS RECAP: They Can't Even Let us Enjoy Green Days Anymore!

Posted To: MBS Commentary

What a frustrating day! Yes, it's true that bonds ended up in positive territory at the close, but it would have almost been better to endure a modestly weaker day without the volatility. As it stands, we were built up largely to be let down . Stocks began selling fairly aggressively overnight. 10yr Treasury yields were 5bps lower before domestic trading ever began and continued into even stronger territory by 10am ( 3.11% at the best levels ). All of that coincided with additional weakness in equities. Up until that point, MBS were stronger as well, but not nearly as noticeably as Treasuries. To make matters worse, the average lender didn't pass along much of the improvement on rate sheets. That's not uncommon and we would have been well within our rights to expect additional improvements...(read more)

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Mortgage Rates Barely Budge Despite Market Volatility

Posted To: Mortgage Rate Watch

Mortgage rates didn't move much for the second day this week. Unlike yesterday, there was a relatively massive amount of volatility in underlying financial markets. This was especially true for stocks and the US Treasury market (which sets the tone for the broader bond market where mortgages operate). Even if we look specifically at mortgage-backed securities (MBS), we see some of the best gains this month. In fact, mortgage rates likely would have ended the day with more noticeable improvement if the gains had remained intact. Unfortunately , the strength began to erode in the late morning hours. Bonds had benefited from massive stock losses, but starting just after 10am, stocks began to bounce back while bonds weakened (weaker bonds = higher rates). Momentum kicked into higher gear later...(read more)

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An Update on MBS Underperformance vs Treasuries

Posted To: MBS Commentary

Duration is a key variable in deciding value to bond investors investors. In fact, many investors have a duration target for their portfolio. Duration changes differently for MBS vs Treasuries, and this contributes to differences in relative performance (e.g. when you see MBS not gaining as much ground as Treasuries during a rally). A 10yr Treasury note will always have a 10yr duration (or more specifically, a predictably declining duration as time goes by). As rates rise, investors want less duration because they could get higher rates of return with newer debt. Whereas the duration of any 10yr Treasury note will be what it will be regardless of rising rates, the duration of the average mortgage would be getting longer (owners less likely to refi out of a below-market rate, and possibly even...(read more)

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 Morristown TN Homes For Sale - Elite Realty Group provides services with Morristown TN Real Estate For Sale to home buyers and home sellers in Morristown Tennessee, Hamblen County Tennessee, Talbott, Russellville, Whitesburg, Bean Station, Grainger County, and surrounding communities.
We specialize in working with Home Sellers in getting their homes listed and sold. We utilize the latest and most up to date marketing materials in assuring the job gets done quickly and with the least amount of hassle. Our homes are listed on over 32 different Real Estate web sites including realtor.com, yahoo.com, trulia.com and many others.
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