mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 04/09/10 08:02 PM
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Forgive me; last week report was not completed due to the Good Friday Holiday. Below is this week's report and analysis of key economic news effecting our business:
Rates rose most of the week over various pieces of economic news, and the Treasury Auctions which need to attract investors to finance or national debt saw Treasury Yields climb from last week. Since the Fed's exit from supporting Mortgage Backed Securities on March 31st, rates have increased on average from 0.25% to 0.375% on both conforming and jumbo loans. Below is a synopsis of this week's economic activity:
Monday saw the National … (2 comments)
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mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 03/26/10 07:28 PM
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Disclaimer: My goal is to ensure that the Realtor community is kept abreast of current market analysis. While I haven't received any complaints, the news is not always positive towards our industry. Rates are still near historic lows, so I always emphasize that with clients and hope that you do as well.
This week was full of economic news and releases of key data during the week. Most notably, the Fed's auction of Treasuries seemed to have great bearing on the mortgage market this week with rates rising modestly during all auctions. Below is a synopsis of this week's most notable … (0 comments)
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mortgage rates: Important Mid-Week Rate and Market Update - 03/24/10 05:23 PM
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For those borrowers trying to eek out an 1/8th better in rate, today tossed a huge bucket of cold water on them with today's market news and more notably the government's Treasury Auctions.
According to Mortgage Daily News, rates went from 2010 Lows to 2010 Highs all in one day. Most of us in the business have seen reactions like this before, but with so much uncertainty in the markets things have not been reacting normally to what they normally do.
Rates could settle down, but with the Fed financing their budget deficits, it may not reverse very soon. Today, … (2 comments)
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mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 03/19/10 05:49 PM
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This week was filled with economic data and announcements throughout most of the week. Below is an abbreviated recap of most of this week's important news effecting our industry and rates:
Monday's Industrial Production numbers did little to effect the market and showed a a small 0.1% rise in February ahead of Tuesday's FOMC Meeting.
Tuesday was another story with the market holding it's breath over the Fed's announcement after their FOMC meeting. Tuesday morning saw the market take a hit after Housing Starts were announced before the FOMC results. Housing starts were down 5.9% in February over January.
The FOMC … (2 comments)
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mortgage rates: Federal Reserve to Keep Rates Low for " Extended Period " - 03/16/10 02:18 PM
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I usually only do a market update once a week, but today's announcement by the Fed warrants an update.
The Federal Reserve agreed to maintain low rates for the foreseeable future. Their pledge to keep the federal funds rate target for overnight loans between banks in a range of zero to 0.25 percent continues after today's FOMC meeting.
Bloomberg also cited the Feds confirmation to end the purchasing of Mortgage Backed Securities at the end of this month.
How this is going to effect mortgage rates is uncertain at this time with many forecasting increases in rates when this happens.
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mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 03/05/10 07:44 PM
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This week was pretty wild to say the least with rates all over the board. Lenders would give mid day price improvements only to price worse sometimes in the same day. Although we had a fair amount of economic news during the week, most in the financial sectors were waiting for today's Employment Consensus which is this week's most important news. Below is a brief recap of this week's most important news affecting mortgage rates:
Monday's Consumer Spending report showed that January's spending increased more than expected by 0.5% after an increase in December of 0.3% while the Commerce Department … (4 comments)
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mortgage rates: Important Market Update Ahead of Tomorrow - 03/04/10 07:56 PM
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Tomorrow is going to be a key day in the financial markets with the much anticipated Employment Situation Concensus coming out at 8:30 A.M. EST.
If you have clients in process, and ready to close within 30 to 45 days who are still floating, make sure that you have them keep close tabs on the market with their loan officer.
This information has had everyone waiting with bated breath all week, and will certainly effect the direction of the market.
Just wanted to give you a heads up.
Best Regards
SDMortgagefinder
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mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 02/26/10 05:05 PM
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This week was an interesting week with all of the economic data that was announced. Below is a brief recap of this week's most important news affecting mortgage rates:
The Reuters / University of Michigan final index of consumer sentiment fell today from 74.4 in January to 73.6 in February, while those filing for first time jobless benefits rose to it's highest level in three months.
Existing home sales also dropped unexpectedly in January by 7.2% to a seventh month low as reported by the National Association of Realtors in Washington. While some economists are not predicting a double dip … (0 comments)
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mortgage rates: Weekly Mortgage Rate & Market Wrap-Up - 02/12/10 08:06 PM
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I'm going to diviate briefly, and ask those of you up-front who are reading to let me know if this is helpful to you. Insights into what you would like to see would also be appreciated by your feedback.
This week has been all over the board with several economic releases this week. Below are important items reported this week:
Retail Sales Climbed in January by almost .5%, the third gain in four months while Consumer Sentiment Dropped Unexpectedly from a two year high this week.
The Federal Reserve yesterday released an outline of their plan to remove the financial marketplace … (2 comments)
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mortgage rates: Weekly Mortgage Rate Market Wrap-Up - 02/05/10 07:40 PM
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Last week's report indicated that we would have a roller coaster week pending today's Employment numbers, and it turns out that I was right. This week was full of news, but nothing so important as the employment figures.
The Bureau of Labor Statistics released the monthly Employment Situation report this morning. This is the single most important piece of monthly economic data released to the market. Since consumer spending accounts for the vast majority of our economic growth, market participants track jobs as a way to gauge consumer demand and economic activity. If unemployment is moving higher, more Americans are … (0 comments)
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mortgage rates: Weekly Mortgage Rate Market Wrap Up - 01/29/10 07:21 PM
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This week's mortgage rates ended the week almost at last week's lows after a volatile last few days. Several factors weighed in on rates rising most of the week; most notably,with the Fed's announcement that they would be ending their purchase of mortgage backed securities in March. Rates rose on Monday, gained back lost ground on Tuesday only to give back those improvements after the FOMC statement on Wednesday, weakness then extend over into Thursday. This left the par 30 year fixed mortgage rate in the 4.750 to 5.000 range. Today, all eyes were on the release of Advance 4th Quarter GDP.
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mortgage rates: Weekly Mortgage Rate Market Wrap-Up - 01/23/10 12:11 AM
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Mortgage Rates Improve, Stocks Fall
While the economic data released this week had little impact, mortgage rates were heavily influenced by two big stories. One was an announcement that China will take steps to slow its economic growth and the other was President Obama's proposed new restrictions on the activities of financial institutions. Both measures are expected to lead to slower economic growth in the US, which hurt the stock market but helped fixed income markets. As a result, mortgage rates ended a little lower.
Funny, how bad news improves interest rates.
FHA
To build capital and reduce risk, the … (0 comments)
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mortgage rates: Mortgage Rates Weekly Wrap-Up - 01/15/10 07:38 PM
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Forgive my disappearance, but between Blue Screens ( Term for Computer Virus ) and cold it has been challenging for the last few weeks.
Rates this week ended fairly well as most economic news this week did not bode well for the economy. Below are highlights of this weeks news and rates for the week:
Sales at U S Retailers fell in December following a bigger gain than previously expected the prior month, highlighting the risk that the largest part of the economy will be slow to recover. More reports showed that inventories rose more than forecast in November, and … (0 comments)
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mortgage rates: Mortgage Rate Weekly Wrap Up - 12/11/09 03:08 PM
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Mixed Week for Mortgage Markets
This week's economic news was mixed for mortgage markets. A speech from Fed Chief Bernanke pushed mortgage rates lower early in the week, but weak results in the Treasury auctions caused them to turn higher again later in the week. In the end, mortgage rates finished with little net change from last week.
Despite a stronger than expected November Employment report released on Friday, December 4, Bernanke came out on Monday and repeated the Fed's plans to maintain the fed funds rate at extremely low levels for an extended period of time. According to Bernanke, … (0 comments)
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mortgage rates: Mortgage Rates Weekly Wrap-Up - 12/04/09 05:50 PM
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Today is Friday, December 4, 2009, and the financial markets ended up slightly down for the week. Yet, mortgage rates are still holding to all time lows, even though just slightly higher than the beginning of the week. Today was an erratic day in the financial markets with today's employment numbers. Although rates tanked this morning, we had three rate changes to the better for the day. Below is a synopsis of this week's news.
Employment Data Surprises
After several weeks of strong performance, it was a tough week for mortgage markets. Stronger than expected economic data and an … (0 comments)
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mortgage rates: Mortgage Rates Weekly Wrap-Up - 11/20/09 05:59 PM
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Here is today's market wrap for Friday, November 20,2009
A highly anticipated speech on Monday by Fed Chief Bernanke on the economic outlook revealed no change in the Fed's stance on short-term monetary policy. There were also few surprises in the economic data released during the week. The monthly inflation readings continued to show that inflation is not a cause for concern in the short-term. As a result, mortgage rates edged just slightly lower during the week, remaining at historically low levels.
The decline in the value of the dollar has received a great deal of attention lately. While Fed … (0 comments)
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mortgage rates: Mortgage Rates Weekly Wrap-Up - 11/13/09 06:56 PM
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Today is Friday the 13th, but the financial markets actually ended up for the week with respect to mortgages as rates continue to improve or hold to historic lows.
Since the Fed meeting on Wednesday of last week, mortgage rates have edged slightly lower for most of the week with minor bumps up periodically. The Fed indicated that monetary policy would remain on hold for quite a while. The Fed acknowledged that eventually rates would have to increase;however, their message was clear that it could take some time to do so.
Conforming fixed rates ended the day today at 4.50% … (0 comments)
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mortgage rates: Rates at Historic Lows for Consumers! What a Roller-Coaster - 10/08/09 06:41 PM
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Just when I think I've seen it all during my career, I get another surprise to add to the list.
Rates have been dropping sharply over the last week with rates for some borrowers with excellent credit and equity to lock at 4.50% with an APR of 4.654% on loans up to $ 417k.Consumers also still have an opportunity with Fannie Mae's Conforming Hign Balance loans to get very low jumbo rates ranging 4.625% with an APR of 4.769%This temporary High Balance Conforming Limit is set to expire on December 31, 2009 unless the government and Fannie Mae along with … (4 comments)
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mortgage rates: Rates Have Taken a Tumble - 08/27/09 10:38 PM
Realtor Forum Rates have taken a sharp drop this week with Conforming Rates hitting a low of 4.75% with an APR of 4.836% this week. Despite somewhat mediocure news about the economy, Bonds have scored well for the week. Recommendation is to Lock your rates, Encourage your L/O's to place locks for the next 30 to 34 days on your purchase transactions. Best Regards Wayne L. Brown President Thor Funding & Investments, Inc. www.SDMortgagefinder.com Make It a Positive Day … (0 comments)
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mortgage rates: Important Things You Should Know About Current Mortgage Rates - 03/05/09 09:36 PM
It's been a while since I've blogged......alot has been going on as I am sure that you are aware of with our market. I talk to people everyday, and one of the most frequent questions has to do with the current state of interest rates. Like many, even though I've been doing this 38 plus years, I have found myself also perplexed with what is happening with the movement of rates. Yet, there is some key reasoning for what is happening with the direction of rates.
For a few months now, there has been speculation that mortgage rates might fall into … (0 comments)
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