What's Ahead For Mortgage Rates This Week : October 25, 2010 - 10/25/10 09:02 AM
Mortgage markets improved last week overall, but barely. After making a sizable move lower through Monday, Tuesday and Wednesday, mortgage pricing jumped Thursday and Friday. Nearly all of the early-week gains were erased.
Conforming mortgage rates in Michigan ended the week slightly improved.
There wasn't much economic news on which for markets to trade last week. In its absence, bond traders took cues from the currency markets, among other things.
Mortgage rates are closely tied to the value of the U.S. dollar. This is because mortgage bond investors are repaid in U.S. dollars and, as the dollar gains value, demand for … (0 comments)

What's Ahead For Mortgage Rates This Week : October 18, 2010 - 10/18/10 09:12 AM
Mortgage markets worsened last week in back-and-forth trading, pushing conforming mortgage rates higher on the week.
Despite the uptick, however, Freddie Mac reports that rates in Michigan still managed to make new, all-time lows for the third week in a row. The benchmark 30-year fixed rate mortgage is now down 1.02% since April 2010.
The United States is experiencing a Refi Boom.
As compared to 6 months ago, a new, $200,000 home loan costs $124 less per month in principal + interest.
This week, monthly payments may fall some more. It all depends on data.
Early in the week, housing data … (0 comments)

What's Ahead For Mortgage Rates This Week : October 4, 2010 - 10/04/10 09:04 AM
For the third straight week, mortgage markets showed little conviction in the face of contrasting data. Mortgage bonds ended the week slightly better, but mortgage rates did not.
Conforming mortgage rates in Michigan were up-and-down all week before ending the week with a slight worsening. The inter-day volatility has come to characterize the current mortgage market.
In part, rates are jumpy because of data; it's unclear when the economy is expanding or contraction - despite the "official call" of the recession's end in June 2009.
Consider the conflicting reports from last week. Separate Consumer Confidence reports showed sentiment falling in September, … (1 comments)

 
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Don Grimes

Don Grimes

Okemos, MI

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Michigan Mutual Mortgage

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