interest rates: What's Ahead For Mortgage Rates This Week : April 13, 2009 - 04/13/09 03:52 PM
For the second week in a row, mortgage markets started the week strong and then ended with a fizzle. In the holiday-shortened week, rates were exactly flat overall.
There wasn't much economic data to move rates last week, incidentally. The market's up-and-down action was largely based on two events:
A reputable analyst said banking-sector … (0 comments)
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interest rates: How To Know If Your Adjustable Rate Mortgage Will Adjust Lower - 04/09/09 10:31 AM
When conforming mortgages adjust, they're often tied to an interest rate index called LIBOR.
LIBOR is an acronym for London Interbank Offered Rate. But what LIBOR stands for isn't as important as the role it plays.
LIBOR is an interest rate at which banks borrow money from each other. Therefore, … (0 comments)
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interest rates: What's Ahead For Mortgage Rates This Week : March 2, 2009 - 03/02/09 01:50 PM
Mortgage markets worsened last week, taking interest rates with them.
A steady drip of sour economic news plus concerns about the banking system outmuscled Fed Chairman Ben Bernanke's congressional testimony in which he said the recession would likely end later this year.
Overall, mortgage rates have risen in 9 of the … (0 comments)
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interest rates: What's Ahead For Mortgage Rates This Week : February 23, 2009 - 02/23/09 01:15 PM
Traders brushed off Tuesday and Wednesday's passage of the American Recovery and Reinvestment Act and the President's mortgage relief plan, respectively.
It showed how unsure markets remain about the stimulus package and its probable impact on the economy.
As a result, mortgage markets worsened last week, albeit slightly. It marked the 4th week … (0 comments)
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interest rates: Why Credit Card Holders May Benefit from The Fed's Actions Today - 12/11/07 12:28 PM
The Federal Open Market Committee meets today and will release a public statement at 2:15 P.M. ET.
It is widely expected that the FOMC will lower the Fed Funds Rate by at least 0.250%.
When the FOMC lowers the Fed Funds Rate, it is trying to "loosen" credit for … (2 comments)
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interest rates: The Week in Review (December 10, 2007): What to Watch For - 12/10/07 02:13 PM
Among lingering doubts about housing and credit markets, and a general uncertainty about the U.S. economy, the mortgage bond market tanked towards the latter part of last week.
As investors moved away from mortgage bonds, mortgage rates forcefully bounced off their two-year lows.
A major factor behind last week's … (1 comments)
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interest rates: The Week in Review (October 22, 2007) : What to Watch For - 10/23/07 06:23 AM
Rising oil prices, weak housing data, and ongoing credit concerns pushed mortgage rates lower last week as investors sought safety for their dollars. Stock markets took losses and bond markets -- including mortgage bonds -- booked gains. Remember, when mortgage bonds go up in price, mortgage rates come down. To understand … (2 comments)
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interest rates: Jumbo Mortgage Rates Shed Some of Their Risk, Rates Fall - 10/10/07 11:41 AM
As a sign that some normalcy is returning to mortgage markets, the premium attached to jumbo mortgage rates is getting smaller.
A "jumbo"-sized loan is one that exceeds $417,000 on a single-family residence, among other criteria.
Conforming 30-year fixed rate mortgages and jumbo 30-year fixed rate mortgages tend to … (11 comments)
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interest rates: How Today's Employment Data is Hurting Mortgage Rates - 10/05/07 09:32 AM
On the first Friday of each month, the Bureau of Labor Statistics releases its employment report for the United States.
Last month, the jobs report showed that the economy actually lost jobs for the first time since 2003. The total loss of jobs equaled 4,000 and contributed to the … (6 comments)
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interest rates: The Week In Review (September 24, 2007) : What To Watch For - 09/24/07 04:18 PM
In a semi-surprise move last week, the Federal Reserve lowered the Fed Funds Rate by 0.500%.
The Fed wants to prevent a dramatic economic slowdown that started in the housing sector and appears to be spilling over into other sectors now, too.
According to some pundits, the half-point FFR drop was … (2 comments)
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interest rates: Want More Proof that the Fed Doesn't Control Mortgage Rates? - 09/21/07 09:08 AM
For more proof that the Fed does not control mortgage rates, consider this:
In the immediate aftermath of the Fed's decision to lower the Fed Funds Rate by 0.50%, mortgage rates improved by about 0.25% on average.
But, in the two days since, mortgage rates have not only given back those … (8 comments)
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interest rates: How Prime Rate Relates to the Fed Funds Rate - 09/20/07 09:07 AM
Prime Rate is currently 7.750%.
Prime Rate is the "shorthand" name for the Wall Street Journal Prime Rate, a variable interest rate that is used in pricing many types of consumer loans.
These loans include:
Home equity lines of creditCredit card loansAuto loans Prime Rate's variable nature is tied to the … (7 comments)
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interest rates: Making English out of Fed-Speak (September) - 09/19/07 09:11 AM
The Fed lowered the Fed Funds Rate by 0.50% yesterday. A rate decrease was expected by most market participants, but the 50 basis points movement seemed to catch some players off-guard.
Mortgage rates dipped in the wake of the announcement, but the real winners are homeowners with balances on their home … (0 comments)
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interest rates: How the Fed Will Disappoint No Matter WHAT it Does Today - 09/18/07 08:54 AM
It's all eyes on the Fed today; the market anxiously awaits the central bank's 2:15 P.M. ET press release.
Some of the market bias towards a 0.50% rate cut has decreased in favor of a 0.25% cut. This shift is largely psychological.
Markets are trying to "get inside … (3 comments)
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interest rates: The Week in Review (September 17, 2007) : What to Watch For - 09/17/07 09:17 AM
The volatile path of mortgage rates last week followed the changing expectations for Tuesday's Federal Open Market Committee meeting.
The FOMC sets the Fed Funds Rate, a benchmark interest rate upon which Prime Rate is based.
According to Federal Funds Rate futures, there is a 94 percent chance that the … (4 comments)
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interest rates: What Would it Take for YOU to Feel the Pinch of Higher Gas Prices? - 09/14/07 08:48 AM
As crude oil crossed $80 a barrel Thursday, the Wall Street Journal ran an interactive poll with its readers.
What sustained price for gasoline would cause you to cut back on other household spending?
The graph above shows the on-going results of the non-scientific study. You can chime in, too, at http://forums.wsj.com/viewtopic.php?t=805.
… (10 comments)
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interest rates: What the Price of Gold Says about the Economy - 09/13/07 09:33 AM
Headlines today read that the value of gold is nearing its all-time high (adjusted for inflation). The lay people would ignore this story, but those in the know understand that the price of gold is usually reflective of the state of the global economy.
The spot price of gold tells a lot … (0 comments)
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interest rates: Why Mortgage Rates Fell BEFORE the September 18 Fed Meeting - 09/12/07 06:02 PM
Mortgage rates "come from" one place only: the prices of mortgage bonds as determined by investors.
The higher the price, the lower the corresponding return, or rate.
Bonds -- like stocks -- are traded as securities. An investor may buy Microsoft stock if he thought the company's future looked bright, … (8 comments)
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interest rates: The Week In Review (September 10, 2007) : What To Watch For - 09/10/07 09:30 AM
Weak employment data pushed mortgage rates lower last week. Against expectations of 110,000 new jobs created in August, last Friday's Non-Farm Payrolls report showed a loss of 4,000 jobs.
The story made headlines all over the country this weekend but its connection to mortgage rates is not always clear. Here's how … (2 comments)
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interest rates: How Today's Jobs Report Impacts Mortgage Rates - 09/07/07 10:15 AM
This morning, the government reported that the U.S. economy lost 4,000 jobs in August. Led by losses in manufacturing and construction, this is the first time since 2003 that the economy has failed to add jobs in any given month.
Markets had been expecting a job gain of roughly 110,000, but … (4 comments)
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