inflation: What’s Ahead For Mortgage Rates This Week : December 19, 2011
- 12/19/11 02:06 AM
Mortgage markets improved last week, but by a slight amount only; not enough to move conventional mortgage rates in Michigan in any significant manner. Wall Street watched as Eurozone leaders expressed little willingness to increase aid programs within the region, and as the Federal Reserve voted against new economic stimulus for the United States. The Fed Funds Rate remains near 0.000 percent and QE3 was not introduced. Investors had expected the opposite outcome in both scenarios. In most weeks, these stories would have led mortgage rates lower. There was, however, a fair amount of data suggesting that the U.S. economy is … (2 comments)
inflation: What's Ahead For Mortgage Rates This Week : June 27, 2011
- 06/27/11 02:33 AM
Mortgage markets improved again last week on a revised economic outlook for the U.S. economy, and ongoing concerns about Greece and its sovereign debt. Conforming mortgage rates in Michigan fell last week and now hover near the all-time lows set last November. Adjustable-rate mortgages are especially low. There were three big stories last week that will carry forward into this week. First, the Federal Open Market Committee voted to leave the Fed Funds Rate unchanged in its current target range of 0.000-0.250 percent. This was expected. However, the Fed revised its growth estimates for the U.S. economy lower. This was not … (0 comments)
inflation: What's Ahead For Mortgage Rates : Week of June 20, 2011
- 06/20/11 03:36 AM
Mortgage markets improved last week as Wall Street managed news on both sides of the economic coin. There were several instances of higher-than-expected inflation - an event that tends to lead rates higher - but weak domestic jobs data and a soft manufacturing report suppressed the damage. Rates were also held low by ongoing issues in Greece. In Greece, the government is currently struggling to meet its debt obligations - despite a restructuring of existing debt negotiated in 2010. Without a plan for its new debt, though, Greece will likely to default on what it owes. Eurozone and international banking leaders have … (0 comments)
inflation: What's Ahead For Mortgage Rates This Week : June 13, 2011
- 06/13/11 02:50 AM
What's Ahead For Mortgage Rates This Week : June 13, 2011 Mortgage markets moved in feverish fashion last week, changing with extreme frequency, and eventually ending slightly worse on the week. Conforming mortgage rates fell to a 6-month low Wednesday but, by Friday, they had retreated higher. Last week marked just the second time in 8 weeks that rates in East Lansing increased. During that span, Freddie Mac reports that mortgage rates have dropped 42 basis points, or 0.42%. That equates to a monthly savings of $25.24 per $100,000 borrowed. One reason why mortgage rates have been dropping is that the … (0 comments)
Mortgage markets improved last week, but by a slight amount only; not enough to move conventional mortgage rates in Michigan in any significant manner. Wall Street watched as Eurozone leaders expressed little willingness to increase aid programs within the region, and as the Federal Reserve voted against new economic stimulus for the United States. The Fed Funds Rate remains near 0.000 percent and QE3 was not introduced.
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