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What's Ahead For Mortgage Rates This Week : March 29, 2010 - 03/29/10 08:33 AM
Mortgage markets tanked last week, raising rates to their highest levels in a month.
Most of the losses occurred Wednesday in what was the worst 1-day mortgage market performance in more than 6 months. Even Friday's rally could barely dent the losses. Most of the movement was tied to geopolitical concerns and worries of a ballooning federal debt load.
The best time to lock a conventional or FHA mortgage rate last week was Tuesday morning.
This week, markets should remain volatile. There's a large set of economic data due for release, plus trading volume will thin as the week goes on … (0 comments)
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What's Ahead For Mortgage Rates This Week : March 22, 2010 - 03/22/10 08:19 AM
Mortgage markets closed unchanged last week, but that's not say mortgage rates were calm. Monday through Wednesday, rates improved steadily before a swift, late-week sell-off unwound the gains.
Mortgage rates have been very low for a very long time -- against the expectations of most market experts. The speed of the Thursday-Friday reversal may signal that markets are preparing for change.
One key story from last week was the Federal Open Market Committee's scheduled Tuesday meeting. Upon adjournment, the Fed voted 9-1 to hold the Fed Funds rate in its current target range near 0.000% and reiterated its plan to keep … (0 comments)
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What's Ahead For Mortgage Rates This Week : March 15, 2010 - 03/15/10 08:47 AM
Mortgage markets worsened last week with little economic news to push markets in either direction. Momentum trading and rebalancing of portfolios drove mortgage rates higher, on average.
FHA and conventional mortgage rates rose last week, marking the first time that's happened this month.
Mortgage rates have been on impressive run lately and mortgages are priced far better than what most experts predicted. Weaker-than-expected economic data is one reason why. Lack of economic data may be another.
This week, however, data returns.
Monday : Industrial Production and Home Builder Index Tuesday : Housing Starts and Building Permits Wednesday: Consumer Confidence Thursday : … (0 comments)
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What's Ahead For Mortgage Rates This Week : March 8, 2010 - 03/08/10 08:20 AM
Mortgage markets improved last week in low-volume trading.
Between Monday to Thursday, Wall Street focused on the upcoming jobs reports and mortgage markets gained while traders jockeyed for position. Mortgage rates drifted lower through Thursday afternoon. But, then, after a better-than-expected Non-Farm Payrolls report Friday morning, mortgage markets -- and mortgage rates -- reversed.
Overall, mortgage rates dropped last week, but only by a small margin. Rates were best Thursday afternoon.
It was the second consecutive week in which mortgage rates fell.
Last week was also interesting in that both stock markets and bond markets improved, proving that rates don't always … (2 comments)
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What's Ahead For Mortgage Rates This Week : March 1, 2010 - 03/01/10 08:20 AM
Mortgage markets improved last week as economic reports painted a less-than-stellar portrait of the U.S. economy and concerns of a looming monetary policy change eased. Mortgage pricing improved dramatically, despite a late-Friday retreat.
Mortgage rates are now at their lowest levels since early-February.
Last week was heavy on negative data:
Consumer Confidence posted 16% short of expectations New Home Sales posted 13% short of expectations Initial Jobless Claims were higher than expected In addition, both the Case-Shiller and Home Price Indices showed a slight pullback in the housing sector.
The impact of these statistics was muted, however. This is because Fed … (0 comments)
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Don Grimes
Don Grimes
Okemos,
MI
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Michigan Mutual Mortgage
Address: 4572 S. Hagadorn Road, Suite 3-C, East Lansing, MI, 48823
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