mortgage rate: Happy New Year: Here is a 2024 Housing Forecast
- 01/08/24 02:03 PM
Happy New Year!
2024 Housing Forecast: I just read a housing forecast for this year, and it is promising. A quick look back at 2023 we have Year over year prices up 6.4% as of November and it looks like the full year will be between 6.8 and 7% once the data is released for December. For this year the appreciation forecast is for housing prices to go up another 4.5-5% in value with 15-20% more transactions in 2024 VS 2023. (With less Agents in the business and fewer LO’s that should be good for all of us) For interest rates the … (6 comments)
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mortgage rate: This week's Economic Calendar 11/18/19
- 11/18/19 11:00 AM
On Friday, U.S. equity markets closed out a strong week with all three major indexes closing at new record highs. The Dow closed up 222.9 points (0.80%), the S&P 500 closed up 23.83 (0.77%), and the Nasdaq closed 61.8 (0.73%) points higher. Improving economic data and stronger than forecast quarterly corporate earnings have helped convince investors that the U.S. will not experience as large of a pullback as what has been experienced in Europe and Asia. Value investing has re-emerged as an exciting concept that is back in vogue as investors refocus on price-to-earnings ratios and look for companies with a … (0 comments)
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mortgage rate: Interest Rates Are Climbing
- 05/12/15 04:42 AM
In the Interest rate world: After a very steady couple of months it appears that interest rates have started
their climb up. The past week or two have not been interest rate friendly. Frankly- the news has just been too good for rates to stay as low as they were. If you have read anything I have written about interest rates in the past 20 or so years you know that Good News is Bad News for interest rates. The economy is gaining strength, employment is better than it has been since 2008 and the Fed may be forced to raise interest … (2 comments)
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mortgage rate: Mortgage Rates and What May Move Them This Week: May 2, 2011
- 05/02/11 07:34 AM
Last week was another good one for us in the mortgage world with Fannies gaining 35/32nds by the end of the day Friday, bringing us darn close to the lowest rates for 2011. Luckily Bernake was well tuned with his "Fed-Speak" and did not scare the market, while striving towards transparency from the Fed. The auctions were mostly well received and there were no surprises in the numbers.
This week we got started off with some surprise news last night, (about 10yrs late, but better late than never) and the markets have been trading pretty flat on the news. I … (0 comments)
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mortgage rate: Mortgage Rates and What May Move Them This Week: March 28, 2011
- 03/28/11 09:46 AM
In last week's Tug-O-War, Stocks won and the credit markets lost. By the end of the day on Friday Fannies lost 22/32nds for the week, the biggest lost since February 11th. Of course as a trade off we have the Dow WELL over $12,000 again.... and if you have been keeping up with my reports, you will be well aware that Good news is BAD news for interest rates.
This week has a good mix of auctions and data, We have $99 Billion in treasuries to be auctioned off this week, here is the calendar.
MondayMarch 28: February personal income … (3 comments)
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mortgage rate: Mortgage Rates, and What May Move Them This Week: December 13, 2010
- 12/13/10 08:54 AM
Last week was the 5th week in a row of climbing rates. It was also the Worst week in recent history with Fannies loosing 53/32nds by the time the bell rang on Friday. Here's the fun part: There really wasn't any reason for it. The first 2 Auctions went off poorly, so that did not help, but we did see good bidding at Thursday's 30 year auction that helped Thursday be the only flat day of the week. The thing that created the sell off: The extension of the tax cuts. Pretty crazy when you think about it, it is not … (8 comments)
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mortgage rate: Interest rates BOUNCE off their lows.
- 11/16/10 07:22 AM
Let's put it this way, if you drop a rubber ball off of a tall building it will build speed until it bounces, and the farther it falls, the bigger the bounce!
Interest rates took a pretty big jump up in the past week after hitting all time lows a few weeks back. I guess that isn't that big of a surprise to see a bounce off of a bottom. The question becomes: Is it over?
The Fed has been buying bonds to help keep rates low. Keep in mind that Fed Funds are already as low as they can … (10 comments)
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mortgage rate: Mortgage Rates and What May Move Them This Week: March 29, 2010
- 03/29/10 05:51 AM
Last week got a little ugly mid week when we saw one of the bigger 1 day sell offs in a quite some time. this sell off stemmed off of a poorly bid 5 year auction that filtered it's way through the credit markets. Luckily we saw things flatten out on Thursday and gain a bit of ground back on Friday. Over all we lost 14/32nds on Fannies for the week, much better than the 28/32nds we lost on Wednesday alone!
There continues to be fears in Europe with a close watch on both Greece and Portugal. Problems there will … (7 comments)
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mortgage rate: Mortgage Rates and what will move them This week: March 8, 2010
- 03/08/10 02:57 AM
As we thought, last week was pretty quiet going into Friday's employment report. Just prior to Friday's report we saw a little bit of improvement which was quickly wiped away by a stronger than expected employment report. It was still weak with a 9.7% jobless rate and 36k jobs lost, but it was not as bad as analysts had projected. By the end of the week we had Fannies trading 3/32nds higher than the previous weeks close. The employment report left traders thinking that the Fed will move rates up, but that will still be months away.
This week has … (4 comments)
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mortgage rate: Mortgage Rates, and what will move them this week: March 1, 2010
- 03/01/10 03:16 AM
Last week was a good one for rates. We gained back 28/32nds on Fannies after a few bad weeks in a row. That is a big move for 1 week. Last week had mixed results with the auctions running both hot and cold. The biggies were the housing reports that both came in much weaker than expected and the continuing issues in Greece that have caused a bit of a concern and a flight to quality with money flowing into our credit markets. This week is a busy one with the start of a new month and new data. The … (5 comments)
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mortgage rate: Mortgage Rates, and what will move them this week: February 8, 2010
- 02/08/10 03:34 AM
Last week was a bit of a bouncy one, but we ended up with a pretty nice gain of 12/32nds by the end of the week. Overall Thursday was the good day of the week with a bit of a flight to quality into the credit markets. Friday's employment report had the market confused most of the day with a mixed bag of good and bad data, and ultimately the report became somewhat of a non-event for the market.
This week There is a mixed of data and auctions to look forward too, and a bit of confusion in the … (2 comments)
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mortgage rate: Mortgage Rates and what might move them this week 1/4/10
- 01/04/10 05:07 AM
HAPPY NEW YEAR! This is the first full trading week of the new year, The last few of the old year were fun choppy sessions leaving us with higher rates. We no longer have the excuse of light trading due to the holidays so we will be back to "normal" trading (I hope)
Last week actually ended almost dead flat from the previous week, it was a bouncy ride as we headed into New Years eve but Fannies managed to squeak out a 1/32nd gain for the week. That is basically an unchanged week.
This week is the start of … (0 comments)
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mortgage rate: Mortgage Rates For the week of November 23rd: Economic Calendar
- 11/23/09 08:56 AM
Happy Turkey Week!
Last week ended up being another positive one with Fannies ending up 6/32nds better than the previous week. If you are keeping track, that makes 4 positive weeks in a row bringing us back close to the Low LOWS we saw last spring. This is a short week which has some issues in itself that can cause a bump in the road that can move rates.
Here is this weeks News worthy events:
Monday November 23: October existing home sales were expected to be up 1.4% but ended up being UP over 10%. This should have … (0 comments)
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mortgage rate: Economic Calendar: What may move Mortgage Rates this week? 10/13/2009
- 10/13/09 06:56 AM
I don't even want to talk about last week, but I guess I need to.Friday was a horrific day in the credit markets and fannies lost 29/32nds by the close of business. That was a total loss of 26/32nds for the week. that may not sound like much, but that is an ugly number! WHY? Well it had a lot to do with comments that came from the Fed Chair. Bernake said that the Fed is ready to raise short term rates when they see sustainable growth. Here is the fun part: This is nothing new, this is what he … (3 comments)
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mortgage rate: Mid week Rate update: WOW, What a great 4 or 5 weeks for Mortgage Rates
- 09/10/09 08:20 AM
Mortgage Rates Are Back Near Historic Lows!
I have been tracking the ups and downs as Fannies are trading for quite some time now, and since the initial uptick this spring we have had a flat market. Don't get me wrong, there have been some crazy days with big swings and entire weeks that were nail biters.... BUT: if you tracked the ups and downs there were so many weeks that ended up unchanged by the closing of the market on Friday this summer that rates would look pretty flat if you were to graph them.
For almost 5 weeks we … (10 comments)
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mortgage rate: Economic Calendar: What's happening with Mortgage rates this week, September 8, 2009
- 09/08/09 06:05 AM
Where will Mortgage Rates be this week?
I cant believe that summer is over. Where did this year go? Well The kids are back in school, and we still have work to do! Last week ended up slightly positive. We had a bit of a sell off towards the end of the week as I had expected with the long weekend, The last week of the summer is always a thinly traded week, but over all it was a positive one, and the past month has bee a very positive one for rates.
Moving forward this week, Here is what … (2 comments)
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mortgage rate: Economic Calendar: What May Move Mortgage Rates this week 8/31/2009
- 08/31/09 09:05 AM
This weeks Mortgage Rate Movers
Lets re-cap last week before we dig into this week: Mostly because it was a great one for interest rates. Even with some mixed signals we squeaked out a 15/32nd gain on Fannies last week which translates into a nice improvement on a rate sheet. This came together even with better than expected home sales numbers and a 2 yr auction that had higher yields than anticipated. So Score one for the credit markets!
That's enough of the old, How about the new: Well this weeks numbers start a new month of data (hard to believe … (3 comments)
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mortgage rate: Economic Calendar: What may move Mortgage Rates this week 8/17/09
- 08/17/09 07:02 AM
First lets take a quick look at last week: Last week ended up being a GREAT week for mortgages with only 1 negative day, but overall a gain of 25/32nds in price in Fannie 30years. That translates into a nice improvement on rate sheets! What is amazing about this is we had enough negative news that had the potential to raise rates. The 10 year auction did not go well, and the Fed said they would stop buying Treasuries at the end of September... Both BAD news for the credit markets. Yet the market shrugged off the bad news and … (4 comments)
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mortgage rate: Economic Calendar: Whats going on with Mortgage rates this week? 8/10/2009
- 08/10/09 04:54 AM
Last week was not a friendly one for interest rates. Every day last week was a loss for the market all together Fannie 30 yrs lost 40/32nds by the end of the week which is pretty ugly on a rate sheet. There was a bright spot. On Friday the employment data came out much better than expected and we saw a big sell off that approached a full point, by the end of the day the market clawed its way back up the hill with a loss of only 7/32nds, if it did not we would have lost MUCH more!
This … (6 comments)
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mortgage rate: Economic Calendar, What's Happening with Mortgage Rates this week, 7/27/09
- 07/27/09 07:57 AM
If you took a look at last Friday's postyou will see an example of an Unchanged week that was all over the map on a daily basis. We had some bright spots and some dark scary spots last week but literally ended up absolutely even on Fannies from Close of Business Friday to Friday. This is a fairly busy week with a busy calendar, but Treasury activity is likely to be the biggest influence.
Here is what we have in store for this week:
MondayJuly 27: June New home sales was expected up 2.9%. The reality of the number, it … (6 comments)
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