mortgage rates: Global events and oil prices have an impact on mortgage rates - 08/14/08 02:17 PM
The connection between the world's political events and mortgage rates here at home is not always clear, but Russia's invasion of Georgia provides a strong working lesson.
Georgia is a former Soviet republic on the eastern shores of the Black Sea. Oil pipelines within its territory supply about 1 percent of the … (1 comments)
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mortgage rates: Looking Back And Looking Ahead : March 31, 2008 - 03/31/08 08:34 AM
Mortgage rates were up last week on weak housing data and a growing nervousness about mortgage bond quality.
Rates would have been up more if not for a tame inflation reading Friday.
The Personal Consumption Expenditures report fell Friday to 2.0% year-over-year, putting it back within the Federal Reserve's comfort zone … (0 comments)
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mortgage rates: Looking Back And Looking Ahead : March 24, 2008 - 03/24/08 10:32 AM
Conforming mortgage rates edged slightly lower for the second week in a row.
Mortgage rates fell for two main reasons:
The Federal Reserve offered fiscal support for troubled mortgage-backed securities A government group gave Fannie Mae and Freddie Mac permission to lend more of money to American homeownersThese two actions combined to make mortgage-backed … (0 comments)
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mortgage rates: Expect A Fed Funds Rate Cut This Afternoon - 03/18/08 10:50 AM
The Federal Open Market Committee meets today and will issue a press release in addition to cutting the Fed Funds Rate at 2:15 P.M. ET.
The verbiage of the press release will be as widely watched as the rate cut itself because markets are curious about how far the Federal Reserve … (2 comments)
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mortgage rates: Looking Back And Looking Ahead : March 17, 2008 - 03/17/08 08:30 AM
Mortgage rates fell last week on growing evidence of a recession, but far fewer Americans were eligible to take advantage.
Mortgage lenders continue to reduce product menus and that is leaving homeowners with fewer mortgage financing options than before.
As an added hurdle, Fannie Mae and Freddie Mac recently added "risk-based" fees … (0 comments)
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mortgage rates: What High Oil Prices Mean To Mortgage Rates - 03/04/08 08:24 AM
After briefly exceeding its all-time high, oil closed Monday at $102.45.
Rising energy costs can lead to inflation because American Business eventually passes on its higher costs to American Consumers.
When consumers have to spend more money for the same amount of product, it's called "inflation".
Another way to look at inflation is … (2 comments)
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mortgage rates: As The Fed Funds Rate Falls, 30-Year Fixed Mortgages Rise - 02/28/08 08:51 AM
Federal Reserve Chairman Ben Bernanke testified to Congress Wednesday, alluded to further rate cuts to support an ailing U.S. economy.
Already, the Federal Reserve has lowered the Fed Funds Rate by 2.250% since September 2007.
The graph at right comes from the Wall Street Journal and it highlights a very important correlation between the … (4 comments)
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mortgage rates: Tuesday May Have Marked The Unofficial End Of Low Mortgage Rates - 02/20/08 10:07 AM
For homebuyers and homeowners expecting low mortgage rates this week, Tuesday marked the unofficial end to basement 30-year fixed mortgage rates.
According to the market analysts at BestInfo, Inc., the 30-year fixed rate measured its largest one-day movement in more than 10 years Tuesday.
Nationally, 30-year fixed mortgage rates increased 0.375%.
Here is the … (6 comments)
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mortgage rates: Looking Back And Looking Ahead : February 19, 2008 - 02/19/08 08:48 AM
Early last week, mortgage rates rose on strong consumer spending and Warren Buffett's offer to assume $800 billion in debt from three major bond insurers.
Both reports were interpreted as signs of long-term strength in the economy, leading mortgage rates higher for long-term products such as the 20- and 30-year fixed … (1 comments)
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mortgage rates: Looking Back And Looking Ahead : February 11, 2008 - 02/11/08 08:45 AM
Mortgage markets are conflicted about the U.S. economy and the confusion is impacting home buyers.
If you've recently tried to lock a mortgage rate, you've probably experienced it personally.
On one hand, reports of plunging sales suggest that the economy is slowing more quickly than expected.
This is recessionary and tends to be good … (2 comments)
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mortgage rates: Rates Slide Lower after .75% Fed Rate Cut - 01/22/08 02:01 PM
As promised, last week was heavy on data and on drama. And mortgage rates continued their slide lower.
This week, by contrast, is devoid of data and markets are already digesting the Federal Reserve's surprise 0.750% rate cut this morning.
Mortgage rates are falling in response, but not because … (5 comments)
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mortgage rates: Which Leads Which Lower: Mortgage Rates Or The Fed Funds Rate? - 01/16/08 10:24 AM
It's a point that's always worth repeating:
Ben Bernanke and the Federal Reserve do not control mortgage rates
This is particularly relevant today as newspapers, television programs, and market pundits post that the U.S. is in the midst of a recession.
The latest evidence supporting that assertion is that Retail Sales … (0 comments)
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mortgage rates: Americans Are $6.25 Billion More Wealthy Since September Because Of The Federal Reserve - 01/08/08 07:17 AM
Since September 2007, the Federal Reserve has lowered the Fed Funds Rate by 1.000%.
This has caused Prime Rate to fall by 1.000%, too. This is because the Fed Funds Rate and Prime Rate are directly related.
In mathematical terms, the relationship looks like this:
(Prime Rate) = … (1 comments)
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mortgage rates: Why It's Not So Bad That Unemployment Reached Its Highest Rate Since November 2005 - 01/04/08 11:30 AM
On the first Friday of each month, the Bureau of Labor Statistics releases key data about the American workforce.
The report is officially called "Non-Farm Payrolls" but most people refer to it as the "jobs report".
The jobs report's influence on markets is palpable for two major reasons:
Consumer spending makes … (0 comments)
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