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mortgage rate update: Inflation is nominal, Manufacturing growth slows - Daily Mortgage Rate Update for July 15th, 2010 - 07/15/10 01:05 PM
Core inflation a mere 0.1%; Manufacturing growth slows in Philly, Empire Fed indexes; 30-year fixed rates hold at 4.57% - Daily Mortgage Rate Update for July 15th, 2010
In a week filled with important economic data, no day brings more of that data than today. Inflation, 3 different manufacturing surveys, and the Freddie Mac mortgage rate survey all report today. The information revealed suggests that the economic recovery may be sputtering.
All three manufacturing surveys showed a decrease in the growth rate for manufacturing, which had been one of the few bright spots for this economy lately. The services sector isn't … (0 comments)
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mortgage rate update: After a quiet week, a big, loud noisy one awaits - Rate Lock Report for July 12th, 2010 - 07/12/10 12:23 PM
Corporate earnings, inflation, Treasury borrowing, will dominate week; Mortgage rates the lowest they’ve ever been – Daily Mortgage Rate Update for July 12, 2010
There's plenty of news coming later this week, after a very quiet, Independance-day-shortened week. Between Treasury borrowing, corporate earnings, manufacturing, inflation, and consumer sentiment, there are a number of rate-sheet influential news releases coming. While there is little indication that the news will lead to lower or higher rates, current pricing levels are so favorable as to suggest that it may make sense to get loans locked in sooner rather than later.
For a full review of … (0 comments)
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mortgage rate update: Surge in Stocks Saps Mortgage Pricing and Reduced Unemployment Claims Support it - Daily Rate Update for July 8th, 2010 - 07/08/10 12:31 PM
Traders gobble up data suggesting worldwide growth may be stronger than expected this year; Unemployment claims fall more than expected; Mortgage rates at new lows - Rate Lock Report for Thursday, July 8th, 2010
Stocks got a nice bump yesterday as bargain-hunting traders swooped into financial sector companies, among others. After Tuesday's near-panic over a possible double-dip recession, stock prices presented a nice opportunity, enough to push the Dow Jones Industrial Average over 10,000 again. Unfortunately for mortgage pricing, much of the money needed for this came from sales of other assets, like mortgage-backed securities, causing pricing to worsen by as … (0 comments)
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mortgage rate update: Private Employers Disappoint and 652,000 give up looking for work - Daily Rate Update for July 2nd, 2010 - 07/02/10 11:26 AM
Overall, 125,000 jobs lost; unemployment rate falls to 9.5% on discouraged workers; Only 83,000 private-sector jobs added - Rate Lock Report for Friday, July 2nd, 2010
As I predicted yesterday, the highlights of today's monthly jobs report were too few private-sector jobs added, and too many discouraged workers giving up. Results weren't drastically different than expected, though, so mortgage rates have opened the day slightly worse than they closed yesterday.
Each month, the Bureau of Labor Statistics brings us its Current Employment Statistics report, often referred to as the Non-Farms Payrolls report, a survey of 160,000 business and government entities that … (0 comments)
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mortgage rate update: Stocks Tumble on Economic Woes, Pushing Mortgage Rates to New Lows - Daily Mortgage Rate Update for June 29, 2010 - 06/29/10 02:06 PM
European Liquidity Worries Hammer Markets; US Consumers' Outlook Glum; Home Prices Rise Slightly; 10-year Treasury Breaks Through 3% - Rate Lock Report for June 29, 2010
When I first saw the headlines and initial quotes this morning, the phrase, "Smoke 'em if you got 'em" came to mind. It was that bad. The 10-year treasury had dipped below the psychologically important 3% threshold, suggesting it may be moving even lower still. The later data wasn't all that encouraging, either
There are two main issues in play today. First, Wall St. is really spooked about the upcoming repayment of €442 billion on … (0 comments)
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mortgage rate update: Austerity Measures Spook Traders, Suggest Even Better Mortgage Rates - Daily Mortgage Rate Update for June 28, 2010 - 06/28/10 12:13 PM
Last week's average 30-year fixed rate was a record low 4.69% - Could this week's be even better? - All sorts of employment data coming this week - Rate Lock Report for June 28, 2010
The week of June 21-25, 2010 saw a new all-time low mortgage rate as data brought into question the health of the housing market, manufacturing, and employment. On Thursday, there was a significant sell-off in mortgage securities that brought into question whether rates could hold at such a low level, but Friday's actions erased almost all of that sell-off. I would suggest that some part of … (0 comments)
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mortgage rate update: Final GDP Report Confirms Growth is Slower than Expected - Daily Mortgage Rate Update for June 25, 2010 - 06/25/10 01:20 PM
Mortgage sell off yesterday was mostly profit taking; rates headed back towards lowest on record - Rate Lock Report for Friday, June 25, 2010
Many of us who were floating loans yesterday were shocked yesterday when a market that had opened significantly stronger sold off gradually throughout the day, ending with mortgage pricing almost 3/4 of 1 point, or between .125-.25% in rate, worse. Analyzing the data and other information available yesterday, there was no underlying reason for this sell off, rather, traders who had seen the value of their holdings increase substantially recently took yesterday's stock market as a cue … (0 comments)
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mortgage rate update: Existing home sales disappoint, and Europe worries continue - Daily Mortgage Rate Update for June 22, 2010 - 06/22/10 11:06 AM
Economists expect 6.1% rise, market delivers 2.2% decrease in existing home sales; Europe's biggest bank BNP Paribas SA sees its rating cut -- Rate Lock Report for June 22, 2010
Yesterday, markets opened strong on news of China's liberalization of currency trading policy, only to soften throughout the day, leading to a very nice improvement in mortgage pricing compared to where it started the morning. Pricing has continued to improve this morning, starting on concerns after Europe's largest bank by deposits had its credit rating cut due to concerns about the strength of its assets, among other reasons. This concern brought … (0 comments)
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mortgage rate update: This time it's oil driving interest rates?!? - Daily Mortgage Rate Update for June 17, 2010 - 06/17/10 10:21 AM
BP suspends dividend to fund $20 Billion cleanup and compensation fund; Energy prices drive wholesale inflation negative - Rate Lock Report for June 17, 2010
Yesterday, we received several economic reports, but there were other headlines driving mortgage rates too. Wholesale inflation, through the Producer Price Index, showed that prices declined by 0.3%, but stripping out more volatile food and energy costs, prices actually increased 0.2%. Keep in mind that notation about food and energy - we'll be coming back to that. A survey of manufacturing activity gave some support to the notion that it may be manufacturing that pulls the … (0 comments)
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Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
Email Me
Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
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