primary mortgage market: Market updates for next week 6 Relevant Economic Reports
- 08/29/10 10:01 AM
There are six relevant economic reports scheduled for release this week in addition to the minutes from the most recent Fed monetary policy meeting. With at least one piece of data being posted each day this week, it is fairly safe to assume that we will see another active week in the financial and mortgage markets.Unlike many Mondays, tomorrow does bring us one of those reports. July's Personal Income and Outlays report will be released early tomorrow morning, giving us a measurement of consumer ability to spend and current spending habits. It is expected to show an increase of 0.2% in … (1 comments)
primary mortgage market: Wednesday Market Report
- 07/28/10 06:24 AM
Wednesday's bond market has opened relatively flat even though we saw weaker than expected results in this morning's economic news and a negative open in stocks. The stock markets are posting minor losses with the Dow down 20 points and the Nasdaq down 8 points. The bond market is currently up 2/32, which will likely improve this morning's mortgage rates by approximately .125 of a discount point.The Commerce Department gave us this morning's important economic news with the release of June's Durable Goods Orders. They announced a decline of 1.0% in new orders for big-ticket items when analysts were expecting to … (1 comments)
primary mortgage market: 30-Year Fixed Rate Mortgage Drops Slightly to Create Another New Low
- 07/12/10 06:41 AM
McLean, VA - Freddie Mac (OTC:FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.57 percent with an average 0.7 point for the week ending July 8, 2010, down from last week when it averaged 4.58 percent. Last year at this time, the 30-year FRM averaged 5.20 percent. This rate is yet another all-time low in Freddie Mac's 39-year survey. The 15-year FRM this week averaged 4.07 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year … (0 comments)
primary mortgage market: Once Again All Rates But 1-Year ARM Hit Yet Another Record LOW!
- 07/06/10 05:48 AM
McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.58 percent with an average 0.7 point for the week ending July 1, 2010, down from last week when it averaged 4.69 percent. Last year at this time, the 30-year FRM averaged 5.32 percent. The 15-year FRM this week averaged 4.04 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.77 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged … (1 comments)
primary mortgage market: Friday's Market UpDate
- 06/11/10 06:08 AM
Friday's bond market has opened in positive territory after this morning's key consumer spending report showed much weaker than expected readings. The stock markets are mixed with the Dow down 24 points and the Nasdaq up 7 points. The bond market is currently up 14/32, but we will likely see an increase in this morning's mortgage pricing of approximately .250 of a discount point due to weakness late yesterday.The Commerce Department reported that retail-level sales fell 1.2% last month, falling well short of forecasts of a 0.2% increase. Even with more volatile auto sales excluded, we saw a decline in consumer … (1 comments)
primary mortgage market: Wednesday Market UpDate
- 06/09/10 06:27 AM
Wednesday's bond market has opened in negative territory again following early stock strength. The stock markets are showing sizable gains with the Dow up 113 points and the Nasdaq up 30 points. The bond market is down 12/32 as investors shift funds into stocks. However, due to some improvements in bond prices late yesterday, we should see little change in this morning's mortgage rates.Fed Chairman Bernanke's statement to the House Budget Committee was the only relevant news this morning. He reiterated similar comments made Monday evening that helped influence trading yesterday. He said this morning that the U.S. economic recovery is … (0 comments)
primary mortgage market: Wednesday's Market UpDate - Have you Refinance yet?
- 06/02/10 07:05 AM
Wednesday's bond market has opened in negative territory after this morning's stock markets showed early gains. Stocks have continued to move higher, pushing the Dow up 89 points and the Nasdaq up 24 points. The bond market is currently down 8/32, which should push this morning's mortgage rates higher by approximately .125 of a discount point.There is economic data scheduled for release today that is relevant to mortgage rates. So, as expected, the stock markets are having the biggest influence on this morning's bond trading and mortgage pricing. It appears that the major stock indexes have more room to improve, therefore, … (0 comments)
primary mortgage market: Instability in Financial Markets Overseas Lowers Mortgage Rates Here
- 06/01/10 06:51 AM
McLean, VA - Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending May 27, 2010, down from last week when it averaged 4.84 percent. Last year at this time, the 30-year FRM averaged 4.91 percent. The 30-year FRM has not been lower since the week ending December 3, 2009, when it averaged 4.71 percent. The 15-year FRM this week averaged 4.21 percent with an average 0.7 point , down from last week when it averaged 4.24 percent. … (1 comments)
There are six relevant economic reports scheduled for release this week in addition to the minutes from the most recent Fed monetary policy meeting. With at least one piece of data being posted each day this week, it is fairly safe to assume that we will see another active week in the financial and mortgage markets.Unlike many Mondays, tomorrow does bring us one of those reports. July's Personal Income and Outlays report will be released early tomorrow morning, giving us a measurement of consumer ability to spend and current spending habits. It is expected to show an increase of 0.2% in … (1 comments)
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