interest rates: Today in St Louis - June 18, 2008 - Interest Rates Creep Up - 06/18/08 10:24 AM
A recent survey and a rate increase could mean more competition for homes
Recent indication is that first time home buyers are getting tired of sitting on the sidelines. According to a recent online poll taken by the National Apartment Association, 17 percent of renters plan to make the jump … (0 comments)
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interest rates: Change Is In The Air - 06/17/08 06:30 PM
Real Estate is changing throughout the nation. There have been several positive reports in the news lately concerning real estate nationwide.
It seems that most markets have corrected themselves to a level where buyers are willing to buy.
Economists feel that the bottom of the mortgage crisis was reached in April. … (0 comments)
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interest rates: Mortgage Rate Update for June 17th, 2008 - 06/17/08 05:26 PM
CPI was in line with expectations and PPI was a bit hotter this morning. Mortgage Bonds seems to have drawn a line in the sand for now and are attempting a reversal. We finished up 50 bps on the day closing right inbetween a dual layer of resistance. Bonds are also … (2 comments)
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interest rates: Using Home Equity for Business Loans - 06/17/08 05:10 PM
It goes against the grain but sometimes using your home equity for your business makes sense. If you are a small business owner and you need financing to help your business grow, start a new business, your SBA loan is up for refinancing or maybe you need to buy out a … (0 comments)
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interest rates: Veteran or Reservist? - LOW LOW interest rates - 06/17/08 04:32 PM
Interest rates have risen over the last month. They were starting to come down a little today but not quickly. Yet there are astoundingly great deals available especially if you are a Texas veteran or let me put it another way if you are a veteran living in Texas. You will … (0 comments)
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interest rates: Freddie Mac: Mortgage Rates Rise - 06/17/08 01:33 PM
McLean, VA Freddie Mac today released the results of its Primary Mortgage Market Survey®.
It seems that the Fed has now tilted towards inflation as a greater problem and will likely not reduce rates at their next meeting. In fact the dollar has been rising in the expectation that rates will … (0 comments)
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interest rates: Orlando Real Estate - Interest Rates creep up - 06/16/08 12:54 PM
A recent survey and a rate increase could mean more competition for homes
Recent indication is that first time home buyers are getting tired of sitting on the sidelines. According to a recent online poll taken by the National Apartment Association, 17 percent of renters plan to make the … (0 comments)
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interest rates: Mortgage Market Update for June 16,2008 - 06/16/08 09:50 AM
Mortgage backed securities are trading flat on the day down just 3bps this morning. Bonds have been in a downward trend for the last 2 weeks and rates have crept up .75% higher nearing 7.00%.
The recent pressure on bonds are due to the pressure the heightened inflation concerns of the market. The … (0 comments)
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interest rates: Whats the dang deal with interest rates? - 06/15/08 07:45 AM
Is there a decent leveling period in sight for the mortgage interest rates. Their recent quick rise is killing a deal that I've got going. I thought we were going to be stable for a while. Is anyone hearing from a good source where they may be headed and why?
… (3 comments)
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interest rates: A positive update on prices & interest rates for Orange County, California - 06/14/08 03:02 PM
Here is a link to the latest, bi-weekly Market Report produced by the President of our brokerage:
http://www.OurAgentSpot.com/sthomas/MarketTime-Jun-12-08.pdf
For a synopsis of the report, the news for O.C. real estate continues to get better in almost every respect. Sales are up, while inventory is declining. What USUALLY happens in such a scenario is … (0 comments)
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interest rates: Mortgage Market Update Friday the June 13th, 2008 - 06/13/08 10:52 PM
Well it is official......the bond market is fearful of inflation. Some decent CPI numbers came out this morning but that was overshadowed this afternoon by the word no bullish bond trader wants to here........INFLATION is here and rising......well on the flip side it is quite obvious with the cost of food … (1 comments)
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interest rates: Friday Rate Update (Arizona Pricing) - 06/13/08 03:48 PM
Happy Friday the thirteenth to you all!
It seems like interest rates have the thirteenth curse, as they continue their upward trend.
Inflation fears, the price of oil, the dollar, you name it, all in one way or another have contributed to the upward trend in rates. … (0 comments)
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interest rates: FICO Credit Scores - 06/13/08 03:34 PM
Scoring your Credit - How's your FICO?
In today's increasingly automated society, it should come as no surprise that when you apply for a mortgage, your ability to pay can be reduced to a single number. All the years you've been paying your mortgage, car payments, and credit card bills can … (0 comments)
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interest rates: Daily Rate Lock Advisory - 06/13/08 03:00 PM
Friday's bond market has finally opened in positive territory despite early stock gains. The stock markets are in positive territory with the Dow up 122 points and the Nasdaq up 43 points. After a terrible week so far for bonds, the market appears ready to close the week on a … (0 comments)
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interest rates: So are interest rate's going up, or what? - 06/12/08 10:46 PM
The local new's is saying that interest rates are about to rise.
I have also "heard" recently that the FHA program's are also changing. The old program's are gone...Is that GOOD OR BAD???
I have also heard that FHA is going to get more lenient with their lending policies.
Is anyone … (12 comments)
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interest rates: Uh-oh!! Mortgage Interest Rates Take a Big Jump This Week! - 06/12/08 03:17 PM
It was not too long ago when I warned everyone several times that at some point either home prices or mortgage interest rates would start to go up, perhaps fast. Well, today 6/12/08 Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans had … (0 comments)
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interest rates: Feel-Good Numbers - 06/12/08 12:55 PM
Can you tell me how much I can afford? I want to keep my payments at X amount of dollars, what homes can I afford? We have all thought of these questions when we first think of buying a house. I call these feel-good numbers. We want answers from someone in … (4 comments)
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interest rates: Freddie Mac: Long-Term Rates Nearly Unchanged - 06/12/08 11:32 AM
Although the GDP grew at a faster rate in the first quarter than originally reported, consumer spending rose only 1 percent, representing the smallest increase since the 2001 recession.
The Fed has signaled that this may be the end of interest rate reductions for now. Bernanke is becoming more concerned … (0 comments)
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interest rates: Market Update for June 12, 2008 - 06/12/08 08:32 AM
Mortgage Bonds are down 38 bps this morning as of 920am EST. Stock futures are up and oil is down which is leading to bond deterioration. Retail sales were released this morning and came in better than expected for May and better than they were in April, very good news for … (0 comments)
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interest rates: OUCH!!! STRADDLING THE FENCE MIGHT HURT MORE THAN YOU THINK! - 06/11/08 10:02 PM
The consensus is pretty much the same across the board...worst housing market since the mid-70's; and, longer lasting. Looking back over years past, current housing prices are at 2002 and 2003 levels nationally. If you have listened to the media you would want to bury your head in the sand and wait … (1 comments)
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interest rates: What Are You Waiting For? - 06/11/08 05:18 PM
If you are waiting for the national news in regards to the housing market to get better, then your wait is over. Although in the news last week it was all about the 14% decline in home sales nationwide, what the media did not tell you is that the worst … (0 comments)
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interest rates: Is The Federal Reserve Telegraphing Its Next Rate Hike? - 06/11/08 12:57 PM
The Federal Reserve is stumping hard on inflation this week, creating speculation that Fed Funds Rate hikes may be in store for later this month.
This is a counter-intuitive development because increases to the Fed Funds Rate are typically associated with periods of rapid economic expansion.
Lately, we've seen anything … (4 comments)
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interest rates: Market Update for June 10th, 2008 - 06/11/08 07:28 AM
On a technical note, mortgage bonds are down 5 straight session at 216 bps points....rates have rose to the 6.625% area on a conventional 30 year fixed. Bonds are oversold, which generally indicates that the buyers will be back and drive prices back up. When bonds drop suddenly they … (0 comments)
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interest rates: What should The Fed do now? - 06/10/08 09:55 PM
On 5/22/08 I posted a Blog: "Stagflation - is The Fed out of bullets for now?". I was surprized that I had very few comments and little feedback. The essence of my post was that The Fed was "behind the curve". The Fed's action was overdone, and in any event it was too late.
… (8 comments)
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interest rates: Good news! - 06/10/08 06:33 PM
According to the RAGFL (Realtor Association of greater Fort Lauderdale) sales were up in April. There was a very slight increase in the homes that were listed for sale. AND, there was a 26% increase in closed sales for Single Family Homes! Great news! The average sale price was $437,740 a … (4 comments)
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interest rates: Is Now the Time to Buy? - 06/10/08 03:21 AM
In the Honolulu Sunday Advertiser Dated June 8, 2008 Section R front page it said this!
What if Waiting Doesn't Pay off?
Still waiting for prices to come down? Consider this: Even if prices fall 10 percent in the next year, a 1 percentt raite increase means the same house could … (2 comments)
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interest rates: Your Official Crystal Ball Polisher Speaks - 06/09/08 08:53 AM
The Pending Home Sales Index comes out today and Friday the 13th will bring the Consumer Price Index report. An unexpected increase in consumer prices could send interest rates higher. Stay tuned for updates! The Mortgage Maven says lock 'em if you got 'em.
Realtors - Are you tired of … (2 comments)
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interest rates: Market Update June 9th, 2008 - 06/09/08 07:19 AM
Mortgage Bonds are taking a beating off this morning by 59 bps early bouncing off a resistance level and now are sitting down on a level of support. No economic data released today. Retail Sales is out Thursday which should be a market mover. Oil went up $16 a barrell on Thursday and Friday. … (0 comments)
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interest rates: RL Brown Report offers some Good News for Phoenix Real Estate Market - 06/08/08 09:43 PM
RL Brown , the premier source for Phoenix area housing data, incuding the cities of
Phoenix, Scottsdale, Tempe, Fountain Hills, Peoria, Glendale, Paradise Valley, and communities of Desert Ridge, DC Ranch, Troon, Grayhawk
and its most recent report on the the Phoenix housing market showed signs that we may be approaching a … (0 comments)
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interest rates: Why "Shopping Your Rate" Doesn't Work? - 06/08/08 06:56 PM
Why "Shopping Your Rate" Doesn't Work?
Lots of advertisement's list what they call "Today's Best Rates". But we are not in business to mislead you!
Mortgage rates change daily, if not several times a day. So you may see a rate advertised that's no longer available by the time you … (3 comments)
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interest rates: The Winds of Change point out that you have a chance of a lifetime in ownership! - 06/08/08 06:53 PM
Everytime I set out to purchase a property in the past one of the greatest concerns was how I was going to get my money to work for me better, and how could I get the best terms and Interest rate possible.
It does not have to be a bear … (3 comments)
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interest rates: Geeze, gasoline is almost as much as minimum wage minus taxes...or it's the same... - 06/07/08 09:42 PM
That being said, even if a person takes the bus...it's atleast $2.00 or $3.00 for people to get the bus to work.
It's $6.01 here in Florida for a gallon of MacAuthor's milk. Some people have to work an hour to put milk on the table for their children.
Geeze, I … (2 comments)
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interest rates: Credit Card Rates Headed Higher! - 06/07/08 04:35 PM
Credit cards are one of the most pervasive forms of your financial picture. On a daily basis, they provide the flexibility and freedom to reserve a hotel room, travel without carrying cash, and purchase just about anything at anytime.
As such, your credit cards can have a major impact on your … (0 comments)
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interest rates: Which Way RATES? - 06/06/08 05:25 PM
UP!
Today's Prediction: A trusted mortgage industry veteran with 30 years in the business predicted today that our conventional interest rates will head up as early as October '08 to the 8%-12% range. Reasoning: the extreme devaluation of the US Dollar and the fact banks have been lending money at a loss for some time. In addition … (5 comments)
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interest rates: Richmond Market Update - 06/06/08 04:26 PM
Although you have been hearing about the 14% decline in home prices nationwide being reported by the media recently, that is not the case in the Richmond area. Actually, it is not the case in most areas of the country. A recent House Price Index Report by OFHEO (Federal Housing Enterprise … (0 comments)
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interest rates: New York Interest Only mortgages are for the careful planner - 06/06/08 03:33 PM
If you're looking into purchasing your first home, it's important to carefully review and consider all of the sometimes-overlooked expenses of home ownership. Aside from a mortgage payment, there are expenses like property taxes, homeowners insurance, water bills, electricity bills, sewer taxes etc.
Are you concerned that you will be unable … (0 comments)
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interest rates: Unemployment Rate is 5.5% and Interest Rates Lower! - 06/06/08 03:12 PM
Unemployment rate is 5.5% right now, which was an unexpected increase for the stock market. Therefore this is good for interest rates, which have gone down.
So the unemployment rate may not too bad for the housing market, it is making it easier to get a loan for homes and businesses. … (0 comments)
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interest rates: Why buy now when the market is slower? - 06/06/08 02:20 PM
Why buy a house now?
The inventory is up and the prices are down some. The homes on the market now are a little more realistically priced then they have been in the past You have more choices!
The interest rests are some of the best we have seen in … (3 comments)
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interest rates: Should I float? Should I lock? - Daily Update for Friday, June 6, 2008 - 06/06/08 07:51 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
The bond took a real beating yesterday with positive retail reports and an improvement … (2 comments)
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interest rates: Buyers Being Told Not To Buy!! WHY!!!! - 06/05/08 08:49 PM
Why are buyers out there still being warned not to buy??
I have a great condo listed right now and this week was the second time an agent showed it and was told by members of her clients family, to wait, it is not a good time to buy! HELLO!
Are … (15 comments)
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interest rates: Mortgage Rate Update for June 5th, 2008 - 06/05/08 11:08 AM
Mortgage Bonds are down again today after breaking through the 200 day moving average yesterday afternoon. Initial jobless claims where lower than expected this morning and the umemployment rate is released tomorrow and given the inconsistentcy of this number recently we will remain in a LOCK. Should be a big … (0 comments)
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interest rates: Home Loan Rates and the Fed Funds Rate - 06/04/08 11:30 PM
How are home loan rates determined?
A common question I have heard from my clients over the last few months is if a drop in the Fed rate will lower the home loan interest rates. The short answer is no. In my experience, home loan rates actually tend to fall prior … (0 comments)
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interest rates: Real Estate Bust or Boom? Your Decide - 06/04/08 11:29 PM
REAL ESTATE BOOM OR BUST?
I am hearing so much doom and gloom in the real estate industry, that i decided to talk about the good side. I'll admit, foreclosures are wreaking havoc on the market, but haven't we been here before. By we, I mean the collective. I was certainly … (9 comments)
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interest rates: Interest Rates: Up and Down - 06/04/08 04:10 PM
Last week in my blog, I mentioned that interest rates had moved up slightly. Interest rates have been very volatile for the past two weeks. In the beginning of May, rates were hovering below the 6% mark but now the reverse is true. Yesterday's rates moved down somewhat due to the … (0 comments)
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interest rates: VA all the way! - 06/04/08 09:41 AM
1 in 4 potential home buyers are eligibly for VA financing. 1 in 4!! Might make you take a moment to rethink those old nay sayers who wine about VA loans being too difficult to close. Did you know that all that negative VA press was because there were soooooooooo many … (2 comments)
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interest rates: Mortgage Market Update for June 4th, 2008 - 06/04/08 09:19 AM
Mortgage Bonds are trading lower this morning and surprise, surprise they are sitting right on the 200 day moving average. On Monday bonds broke through and closed above the 200 DMA and did trade below it yesterday but closed in positive territory at the end of the trading day. Technically … (0 comments)
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interest rates: It's really difficult to time the real estate market and interest rates - 06/04/08 02:11 AM
Lately I have been getting many calls from buyers who ask me if now is a good time to purchase real estate.
My simple answer: It really depends on your unique situation. If you are one of those folks out there that is trying to time the market perfectly to get the … (0 comments)
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interest rates: Good News Banks Are Doing a Gentle Rate Increase on Adjustable Mortgages - 06/03/08 06:03 PM
I would make lots more money by telling you to refinance right away but I am going to suggest the following instead. Is your mortgage interest will be adjusting in the next 6 months. If you are one of the many people who bought at the height of the market and your … (0 comments)
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interest rates: Mortgage Rate Update for June 3rd, 2008 - 06/03/08 08:25 AM
Mortgage bonds are trading -6 bps this morning with no economic data on the docket for today. Fed chairman Bernanke is speaking this morning about the economy and he could move markets, other than that bond trading will be driven by the stock market (stocks up bonds down vice versa)
… (2 comments)
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interest rates: Last Week in Review - 06/02/08 11:43 PM
… (0 comments)
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interest rates: To Buy or Not to Buy Real Estate Today. - 06/02/08 10:49 PM
Today I talk about what I have been seeing and hearing in the real estate market. There is a lot of fear about buying property because values are still dropping and yet when you look at the facts, homes are on sale, interest rates are still at historic lows and money … (1 comments)
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interest rates: To Lock or Not To Lock - 06/02/08 08:46 PM
To Lock-A-Rate or Float-A-Rate?
To understand you must first make note of this - Floating a rate in hopes that you will be able to lock in a "great or better" rate can be very dangerous in this already vulnerable market. It is true that interest rates can be amazing one … (8 comments)
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interest rates: Shopping by Good Faith Estimate? - You Lose! - 06/02/08 08:21 AM
The Good Faith Estimate Scam
Here's the truth.
A loan officer can out right lie on the GFE.
Surprised? Don't be. They can and some will lie to you for one reason, to get your loan.There are a lot of bad people out there in all aspects of the … (6 comments)
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interest rates: Mortgage rates and the market... - 06/02/08 07:48 AM
If you would like some in-depth information on the market and what is driving mortgage rates, just click right here. You will find information on the week that was and good information on what's ahead in the coming week. And, some other interesting tid-bits of information that most people find useful.
Courtesy of … (3 comments)
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interest rates: Mortgage Rate Update for June 2nd, 2008 - 06/02/08 07:43 AM
Mortgage bonds are up 22 bps this morning. After the selloff Friday afternoon, pricing should be right inline with the Friday morning rate sheets. Just 9 bps higher and bonds hit the strong resistance level at the 200 day moving average. Wait and see what rates do after the ISM number is released … (1 comments)
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interest rates: Market Shifts to Higher Interest Rates as Inflation becomes a Huge Concern - 05/30/08 01:02 PM
I have been watching rates move in an upward direction all week. Mortgage insiders such Barry Habib with "The Mortgage Market Guide" has been preaching this all week and the signs are there.
Now that rates are moving in that direction, what does this mean to a buyer who is shopping … (0 comments)
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interest rates: Interest Rates Rising - 05/30/08 09:22 AM
It turns out that the fears of inflation are starting to come true. We have been advising clients for some time now that this summer rates would begin to inch up due to inflationary concerns. In fact this has been the subject matter of our last three newsletters as well as … (2 comments)
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interest rates: Should I float? Should I lock? - Daily Update for Friday, May 30, 2008 - 05/30/08 09:03 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Finally some good news across the board. Personal Spending, monthly personal consumption, annual personal … (0 comments)
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interest rates: Barring A Timely Reversal, We Are Likely Headed Towards Higher Interest Rates - 05/29/08 01:28 PM
Barring A Timely Reversal, We Are Likely Headed Towards Higher Interest Rates
It appears that the magic number for the bond market is 4 when it comes to the yield on the U.S. 10-year Treasury note. And with current market conditions for the first time since January, that 10-year yield is … (0 comments)
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interest rates: How Spiking Oil Prices Have Mortgage Rates In Tow - 05/29/08 12:37 PM
How Spiking Oil Prices Have Mortgage Rates In Tow
High oil prices are derailing the mortgage market this week, taking an almost-vertical path higher.
Since mid-February, prices are up by 50 percent.
Rising oil prices can be a threat the U.S. economy because with every extra dollar that Americans pay … (0 comments)
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interest rates: Did You Ask: "Has There Been A Mortgage Rate Reprice In The Last Hour?" - 05/29/08 12:35 PM
Yesterday, several mortgage lenders issued three separate "rate sheets" in response to the changing mortgage market.
It was the fourth time in the last 6 trading days that mortgage lenders issued multiple rate sheets in a day, and continued the trend that started in mid-January.
The yo-yo nature of mortgage rates underscores … (1 comments)
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interest rates: Market Update: Rates Headed Up for Good? - 05/29/08 12:25 PM
Just wanted to keep you on the cutting edge of what's going on in the mortgage market, so you can better serve your clients. I thought today would be a good day for an update as things have the potential for shifting. Read on....
Mortgage Rates are determined by Bonds that … (2 comments)
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interest rates: Mortgage Rate Update for May 29th - 05/29/08 11:15 AM
Well so much for hoping rates would stay above the 200 day moving average as I hoped ina blog post last night: May 28th Mortgage Bond Chart
Bonds gapped open lower today by a negative 31 bps. We are now down 75 bps are should lock everything under the sun … (0 comments)
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interest rates: It Takes Just 3 Words to Stop the Rate Lock Scam! - 05/29/08 07:50 AM
I know... "What Rate Lock Scam? Never heard of it."
The other day I gave you the power to determine if you were being Bait and Switched on your mortgage loan. There was a lot to digest there.
Yesterday, I gave you the ability to look up a Loan Officer and … (4 comments)
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interest rates: Should I float? Should I lock? - Daily Update for Thursday, May 29, 2008 - 05/29/08 07:45 AM
Here are the daily thoughts on floating or locking if you are asked by your clients.
As always - consult your favorite mortgage professional who will be able to offer the best advice for YOUR unique situation.
Gross Domestic Product came just under expectations but was higher than last quarter. The … (0 comments)
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interest rates: Interest Rates Going Up - 05/29/08 12:28 AM
Today the Feds increased the 10 year TBill to 4% up .75 basis points from just a few months ago. This is just the beginning of inreases to interest rates as a conforming loan at a 30 year amortization is just about 6% today. The TBill is what most mortgage interest rates … (3 comments)
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interest rates: May 28th Mortgage Bond Chart - 05/28/08 06:27 PM
Today I posted my mortgage market update for the day and recommended to FLOAT because we had tested a key level of support at the 200 day moving average which we did bounce off. Just after 1pm, bonds did fall through that support and I changed my bias to a LOCK position, so I updated my blog to … (0 comments)
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interest rates: Mortgage Market Report for Wednesday May 28th, 2008 - 05/28/08 10:00 AM
Interest Rate Report for Wednesday May 28, 2008
Mortgage bonds have located a bottom at the important 200 day moving average. If this level of support is broken then this level will act as the new ceiling. It is likely that we will see some recovery if bond prices lift off … (0 comments)
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interest rates: Mortgage Rate Update for May 28th - 05/28/08 08:58 AM
Durable goods orders were released this morning for April coming in better than expected at -0.5%. The estimate was -1.5%. Durable goods are manufacturing goods that are expect to last at least three years. Usually a better than expected number means that companies are spending extra capital on equipment for future growth and the economy … (1 comments)
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interest rates: Buying A Home WithOut Going Broke! - 05/27/08 01:52 PM
Building a home without going broke
Ask anyone who's done it. Spending can quickly spiral out of control. Here are key expenses you need to calculate carefully and pitfalls to avoid.
By Liz Pulliam Weston
There's one sure way to know the cost of building your new dream home. And that's … (0 comments)
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interest rates: Information You Can Trust! - Great News for Jumbo and Conforming Loan Seekers - 05/27/08 12:47 PM
Rates remain affordable!
Interest rates for mortgages continue to remain very attractive for conforming loans. For those borrowers with both great credit and the ability to document income and assets, interest rates for a 30 Year Fixed Rate still remain at 6.00% or below.
For homebuyers or homeowners that know the … (0 comments)
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interest rates: Redding Ca inventory heads higher.... - 05/27/08 12:24 PM
The active available homes is heading a bit higher this month signaling that it might be a while longer until we hit bottom.Zillow sent me an email that said things are on the upswing and appreciating but a Pair of housing reports from the Office of Federal Housing price index and … (0 comments)
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interest rates: Mortgage Market Update May 27th, 2008 - 05/27/08 09:37 AM
Well Consumer Confidence just hit the wire for the month of May at 57.2 missing estimates of 61.0, meaning consumers are losing confidence faster than expected. New home sales beat expectations by 6,000 and increased over last month by 17,000. Although this is positive, new home sales account for just … (2 comments)
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interest rates: Long-Term Rates Slip on Weak Economic - 05/24/08 04:42 PM
But Short-Term Rates Pick Up on Hints of the End to Rate Cuts.
Frank Nothaft, Freddie Mac vice president and chief economist. "ARM rates, however, rose slightly on market forecasts that the Federal Reserve (Fed) may not pursue any more rate cuts over the near term. For instance, the federal … (0 comments)
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interest rates: Market Update May 23rd -Existing Home Sales - 05/23/08 10:54 AM
This morning Existing Home Sales were released and came in slightly better than expected. 4.89 mil v 4.85 mil. But still on a downward trend year or year. The US is off 17.5% in seasonally adjusted sales year over year and 8% in price during the same time frame. The most … (0 comments)
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interest rates: Freddie Mac: Mortgage Interest Rates Below 6% Again! - 05/22/08 07:12 PM
Today 5/22/08 Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans have again moved lower for 30 year and 15 year loans, with the average rate for 30 year fixed-rate loans again below the 6% mark. Nationally the average mortgage interest rate for 30 … (0 comments)
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interest rates: Stagflation - Is the Fed out of bullets for now? - 05/22/08 10:15 AM
When the Fed held interest rates steady back in August, some critics claimed the Fed was "behind the curve" and that his failure to act quickly would lead to a deep recession. Once the Fed began cutting interest rates in September 2007, others warned that the Fed was overreacting and risked … (3 comments)
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interest rates: FHA to Move to Risk-Based Pricing - 05/22/08 09:18 AM
FHA announced today that it will begin using a risk-based pricing model. Meaning, applicants with lower FICO scores and down payments will pay a higher interst rate and insurance premium. However, applicants with higher FICO scores and down payments will pay a lower interest rate and insurance premium than they are … (1 comments)
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interest rates: Mortgage Rate Update May 22nd - 05/22/08 07:54 AM
This morning's initial jobless claims came out slightly better than expected 365k v 370k. The stock futures are taking the news as a positive and money will move out of bonds and into stocks. The DOW lost a decent amount over the past 2 days so expect a good day for … (1 comments)
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interest rates: Mortgage Market Report for Wednesday May 21st, 2008 - 05/21/08 03:32 PM
Interest Rate Report for Wednesday May 21, 2008
FOMC Minutes were released today. They forecast weak economic times ahead. The see higher inflation and higher unemployment. They project no interest rate cuts even if the economy continues to slow.Stocks pare losses - bonds move lower. Bonds slide from earlier gains on … (0 comments)
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interest rates: Fed Minutes Summary - 05/21/08 01:46 PM
The Federal Open Market Committee released their minutes from their April meeting at 2pm today
Here are the highlights:
They lowered their growth forecast of the economy slightly over the next few years.
They expect higher inflation and unemployment in 2008 and 2009.
They believe "risk is receding" in the credit … (1 comments)
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interest rates: Did You Ask: "Has There Been A Mortgage Rate Reprice In The Last Hour?" - 05/21/08 01:31 PM
Yesterday, several mortgage lenders issued three separate "rate sheets" in response to the changing mortgage market.
It was the fourth time in the last 6 trading days that mortgage lenders issued multiple rate sheets in a day, and continued the trend that started in mid-January.
The yo-yo nature of mortgage rates underscores … (0 comments)
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interest rates: No Better Time To Buy Than The Present in Rhode Island - 05/21/08 11:29 AM
Real Estate Prices have come down in the past two years, and mortgage rates have first risen, then declined. How does this effect the real estate market in Rhode Island and Southeastern Massachusetts?
Now is perhaps the best time to buy real estate in the last 6 to 8 years, … (0 comments)
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interest rates: MOrtgage Rate Update May 21st - 05/21/08 10:11 AM
This morning's mortgage bonds are off about 20 bps. Bonds are still sitting above a strong level of support at the 100 and 50 day moving averages so I recommend to FLOAT for now.
This afternoon the much anticipated Fed Minutes are released at 2pm. In these minutes we will discover how the … (0 comments)
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interest rates: Interest Rates: This Morning (First Thing) Will Be a Good Time to Lock - 05/21/08 05:01 AM
IMHO, today will be a good day to lock an interest rate on your purchase if you do it first thing this morning. The US stock market was down nearly 200 points yesterday. Asia followed while you were eating dinner yesterday on the east coast, with a drop of more than … (6 comments)
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interest rates: Interest Rate Report for Tuesday May 20th, 2008 - 05/20/08 11:16 AM
Interest Rate Report for Tuesday May 20, 2008
Mortgage Bonds lose some momentum from previous highs but are still in positive territory. Stocks in the red after hitting resistance levels yesterday.
Oil hits record $129.58 a barrel in NYMEX trading - stocks suffer. Investors flock to bonds.Home Depot posts a 66% … (1 comments)
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interest rates: PPI released, mixed numbers - Mortage Rate update for May 20th - 05/20/08 08:51 AM
PPI, producers price index, was released this morning and was tamer than expected at 0.2%. The street was expecting 0.4%, however core PPI (ex food and energy) was hotter 0.4% than expected 0.2%. Stock are reacting negatively to this news on the open and mortgage bonds so far are up 16 bps … (0 comments)
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interest rates: Mortgage Bonds: Bulls v. Bears - Week of May 19th Interest Rate Update - 05/19/08 07:46 AM
The mortgage bond market lost some momentum going into this past weekend. The bulls and the bears are battling at a key support / resistance level. It is interesting to watch the bond market in real time put up a fight when it approaches these levels. On Friday morning it looked … (3 comments)
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interest rates: Daily Rate Lock Advisory - 05/19/08 06:37 AM
This week brings us the release of only three pieces of economic news in addition to the minutes from the last FOMC meeting. Only one of those three can be considered of high importance to the markets and mortgage rates, so we may see a fairly calm week for mortgage … (0 comments)
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interest rates: Interest Rates - When is the Best Time to Lock? - 05/19/08 06:35 AM
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interest rates: Interest Rate Report for Saturday May 17th, 2008 - 05/17/08 10:28 AM
Mortgage Market Report for Saturday May 17th, 2008
The University of Michigan's Consumer Sentiment was reported at worse than expectations. This has been the worst number in 26 years.
Some better than expected news in the Housing market as Housing Starts had modest up-tick in newly constructed homes is welcomed news, … (1 comments)
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interest rates: Interest Rates and Mortgage Contingency Clauses -- What are YOU doing? - 05/17/08 02:58 AM
We've all read enough by now about how you need a 720 credit score and 20% down to qualify for what people commonly refer to as "the going rate" or "the rate I saw on Bankrate" for a 30-year fixed mortgage. I've seen a few different approaches to the way people … (5 comments)
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interest rates: May 16th Rate update - House Starts / Building Permits - 05/16/08 07:52 AM
The bond market had a nice close to the day yesterday up 72 bps on the day but above key level of resistance. In order to confirm that rise we needed some momentum going into today's open. Well we did not get that and we are slightly below that level of … (2 comments)
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interest rates: Looking for help - 05/16/08 01:43 AM
Okay here is my deal some clients of mine are selling their house and buying another and the people who put in an offer provided a DU approval for an adjustable, conventional, 97% . So FHA will do 97% so will My Community depending on your location but an arm at … (2 comments)
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interest rates: 21% Interest Rate 10 Year US Treasury - 05/15/08 10:52 PM
The US inflation rate is currently 17% (calculated M3 money supply increasing at 17% + ). "Calculated"; the Federal Reserve stopped publishing M3...The general lending rate is the inflation rate + interest say 4% or 21%.
You are now seeing the the price rise of all this printing press dollars out … (1 comments)
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interest rates: Mortgage Interest Rates Ease a Bit: Freddie Mac - 05/15/08 01:05 PM
Today 5/15/08 Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans have moved a bit lower for 30 year notes and remained unchanged for 15 year loans. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.01% (5.97% in the southeast), … (0 comments)
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interest rates: Mortgage Rate Update May 15th - 05/15/08 12:50 PM
Rates are looking good today after a rough afternoon mortgage bonds bounced off the 200 day moving average and are up modestly today. Initial jobless claims came in a bit higher than expected which is good for bonds and bad for stocks (points to recession confirmation). Empire State Index was worse … (3 comments)
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interest rates: The Fed: Betting on a rate hike - 05/14/08 03:08 PM
There is a growing sense that the worst of the credit crunch may be behind us. And despite a tamer-than-expected reading for April, inflation is still very much a concern for many Americans.
So with that in mind, could the Federal Reserve be forced to raise interest rates before the … (3 comments)
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interest rates: Economic / Rate update going into Wednesday May 14 - 05/14/08 08:18 AM
Well Bonds took a beating yesterday and long-term mortgage rates are back down to mid april 2008 level, overall still in the high 5%, low 6% range. This morning CPI (consumer price index), a measure of inflation, moderated from 4.0% to 3.9% and if you strip out food and energy, which they call core CPI we are … (2 comments)
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interest rates: What Interest Rates Really Mean - 05/14/08 05:11 AM
The Fed did this! The Fed did that! Rates are up! Rates are down! Aaaagggh! Okay, now exhale. In turbulent economic times the media can’t wait to report what interest rates are doing. Pundits prognosticate, forecasters forecast and soothsayers sooth. When should you buy a home based upon interest rates and … (0 comments)
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