What's Ahead For Mortgage Rates This Week : June 28, 2010 - 06/28/10 09:23 AM
Mortgage markets improved last week in response to mostly negative data about the U.S. economy, and the Federal Reserve's acknowledgement that Eurozone financial ills could cross the Atlantic.
Conforming and FHA mortgage rates fell last week, extending a rate rally that dates to early-April.  Mortgage rates have fallen to several, new, all-time lows during this period and last week was no different.
The best rates of last week hit Thursday morning.
This week, mortgage rates should be volatile, and may rise, too.  There's a bevy of data due for release, and market volume will be light with the long weekend looming.
… (1 comments)

What's Ahead For Mortgage Rates This Week : June 21, 2010 - 06/21/10 09:00 AM
Mortgage markets improved last week on weaker-than-expected jobless figures, ongoing troubles in Europe, and a tame reading on domestic inflation.
As a result, conforming mortgage rates for Michigan fell last week, drawing loads of new refinance applications.
For a brief moment Thursday afternoon, mortgage bond prices pierced a key support level, dropping rates in Okemos to their best levels of the year. 
It didn't last long, however. By Friday morning, pricing was worsening on profit-taking and in preparation for this week - a week that promises to be heavy on both data and rhetoric.
To mortgage markets, this can be a … (2 comments)

What's Ahead For Mortgage Rates This Week : June 14, 2010 - 06/14/10 09:46 AM
Mortgage markets posted four good days last week and one awful one.  Unfortunately for rate shoppers in Michigan , that one bad day outweighed the gains of the other four and mortgage rates worsened on the week overall.
Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates moved higher on the week.
There wasn't much domestic data on which for mortgage markets to move so rates took their cues from global economic activity. Strong data from Japan and China, plus an improving outlook from the Eurozone, sparked optimism among Wall Street investors. Cash poured into the stock … (0 comments)

What's Ahead For Mortgage Rates This Week : June 7, 2010 - 06/07/10 09:05 AM
Rate shoppers caught another break last week as mortgage markets improved on weak jobs data.

The May Non-Farm Payrolls report fell well short of expectations while ongoing jobless claims rose.  The two combined to cast doubt on the speed of the U.S. economic recovery, hurting stocks and helping bonds.
Conforming and FHA mortgage rates dropped for the fifth time in six weeks and, once again, rates are trolling back near all-time lows.
No doubt you've heard that before -- "mortgage rates at all-time lows".  Mortgage rates have dipped to these levels four times in the last 19 months. However, on … (0 comments)

What's Ahead For Mortgage Rates This Week : June 1, 2010 - 06/01/10 12:32 PM
Mortgage markets worsened last week as concerned of a global debt crisis lessened and stock markets rebounded. The gains in stocks came at the expense of bonds -- including mortgage bonds. 
Conforming and FHA mortgage rates rose for the first time in 5 weeks, pulling mortgage pricing off its best levels of the year.
The best mortgage rates of last week were locked Tuesday morning.
This week, mortgage rates may rise even more. In addition to the release of May's jobs report and consumer confidence data, fears of broader economic slowdown appear to be easing.
 
Day-by-day, the chances of rates … (0 comments)

 
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Don Grimes

Don Grimes

Okemos, MI

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Michigan Mutual Mortgage

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