mortgage industry: Ninth Straight Week 30 yr fixed mortgage sets records
- 08/23/10 11:52 AM
For the ninth straight week, 30-year, fixed-rate mortgages set a new record low. While there was a bitmore pessimistic news about the economy, not everything was sour. Industrial Production posted afull percentage point gain last month, with manufacturing kicking back upward. Perhaps part of thedrop in rates was due to the expectation that the second estimate for GDP, which is due this week, willreveal an even weaker economy than the previous estimate. In addition to an increase in refinanceactivity, there was some welcome news for the mortgage industry. In an ongoing national survey ofsenior loan officers, respondents are being to see … (2 comments)
For the ninth straight week, 30-year, fixed-rate mortgages set a new record low. While there was a bitmore pessimistic news about the economy, not everything was sour. Industrial Production posted afull percentage point gain last month, with manufacturing kicking back upward. Perhaps part of thedrop in rates was due to the expectation that the second estimate for GDP, which is due this week, willreveal an even weaker economy than the previous estimate. In addition to an increase in refinanceactivity, there was some welcome news for the mortgage industry. In an ongoing national survey ofsenior loan officers, respondents are being to see … (2 comments)
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