The public as a whole, and Realtors really need to get their facts straight. It's really not the public's or Realtors fault, but more-so the misinformation in the media that is the culprit. Almost everyone thinks that every time the Fed Lowers the Fed Funds Rate that this means that Mortgage Rates are automatically Lowered. That's what they hear or read in print or social media, or television. But that so called fact can't be Further from the Truth. And talking about Truth, there are even inexperienced or misinformed lenders and loan officers that push this misinformation.
For people like me who are in … (0 comments)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 04/24/10 12:03 PM
Forum Last Week's report was not posted due to a family emergency. My apologies. This weeks news kept mortgage rates bobbing back and forth most of the week with various releases of economic activity and market reports. Below is a synopsis of this week's activity including Fridays announcement of new home sales which skyrocketed. Monday / The Conference Board's index of leading indicators was up 1.4% in March, led by manufacturing after being revised upward for February and January by 4% and 6% respectively. Tuesday / ICSC Goldman Store Sales report showed store sales keep climbing with a 0.2% increase for … (0 comments)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 04/09/10 01:02 PM
Forum 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)
california mortgage rates: Fed's MBS Subsidy to Mortgages Ends Today-How Will This Affect Rates and Our Business?
- 03/31/10 10:30 AM
Forum For week's now, the financial markets have been gearing up for the Federal Reserves withdrawal from the Mortgage Backed Securities (MBS) market by purchasing MBS's to keep rates lower. Many have speculated either way as to how this will take the direction of mortgage rates in the future. With all the " Hoopla " over the last few weeks, a vast majority are now inclined to think that the Fed's move will not drastically rates as much as anticipated. Rates will likely again be closer tied to Treasury Bill prices, specifically 10Yr Bonds, which is what controlled rates in the past to a … (2 comments)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 03/26/10 12:28 PM
Forum 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)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 03/19/10 10:49 AM
Forum 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)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 03/12/10 12:15 PM
Forum This week's economic news was some somewhat lackluster this week with very little reports coming out during the week that would have any or much effect on interest rates. I believe as I indicated in last week's report that most of the week had little coming out except for today. The week as a whole was relatively flat most of the week with a few rate improvements here, and then a few rates to the worse there. Today's Retail Sales and the Consumer Sentiment Report from the University of Michigan had the most important impact of the week. Blomberg reported … (2 comments)
california mortgage rates: Weely Mortgage Rate & Market Wrap-Up
- 02/19/10 12:27 PM
Forum This week was full of news that wasn't especially good for interest rates. In fact, yesterday was described by some as just downright UGLY. My most aggressive lender made three rate changes to the worse. We saw this type of activity for much of the week. The Bureau of Labor Statistics this morning released the Consumer Price Index. This index measures the price change of a fixed basket of goods and services purchased by consumers, also known as inflation, the enemy of interest rates. While yesterday's Producer Price Index report showed rising inflation on the wholesale level, it has been … (0 comments)
california mortgage rates: Weekly Mortgage Rate & Market Wrap-Up
- 02/12/10 12:06 PM
Forum 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)
california mortgage rates: Weekly Mortgage Rate Market Wrap-Up
- 02/05/10 11:40 AM
Forum 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)
california mortgage rates: Weekly Mortgage Rate Market Wrap Up
- 01/29/10 11:21 AM
Forum 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. … (0 comments)
california mortgage rates: Weekly Mortgage Rate Market Wrap-Up
- 01/22/10 04:11 PM
Forum 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)
california mortgage rates: Mortgage Rates Weekly Wrap-Up
- 01/15/10 11:38 AM
Forum 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)
california mortgage rates: Mortgage Rate Weekly Wrap Up
- 12/11/09 07:08 AM
Forum 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)
california mortgage rates: Mortgage Rates Weekly Wrap-Up
- 11/20/09 09:59 AM
Forum 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)
california mortgage rates: Mortgage Rates Weekly Wrap-Up
- 11/13/09 10:56 AM
Forum 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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