52 Week Low?

By
Mortgage and Lending with CMG Financial NMLS# 312738

01

 

 

Thursday - April 7  

Mortgage rates dropped to 52-week lows in the latest survey by Freddie Mac. Last week, Fed Chair Yellen urged caution on raising interest rates due to the global economic slowdown, which helped to push rates slower. The 30-year fixed conventional rate, $417,000 or less, fell to 3.59% with 0.5 in points and fees. Mortgage rates have been hovering just above all-time lows as the U.S. Federal Reserve continues to support lower rates through the purchase of Mortgage Backed Securities in the open markets.

Americans filing for first-time unemployment benefits fell this week, signaling the job market continues to strengthen, despite tepid wage growth. Weekly Initial Jobless Claims declined 9,000 in the latest week to 267,000, just below the 270,000 expected. Up until this point, slow global economies are not yet a cause for concern to U.S. employers. On Tuesday, a government report showed that hiring by U.S. employers rose to the highest level since November 2006.

Quarterly earnings season kicks off next week with many analysts setting the bar low due to a slowdown in the first quarter of 2016. And with earnings forecasts set so low, it could help companies to beat those estimates. It is expected that profits for the companies in the S&P 500 have declined 7.4% from a year ago. There are some positive factors that could produce better-than-expected earnings; a lower dollar in recent months could bolster U.S. exports, while a rise in oil prices provides some hope to investors in energy companies.



Mortgage rates at 52-week lows. Jobless claims decline. Quarterly earnings season kicks off next week.



Mortgage rates dropped to 52-week lows in the latest survey by Freddie Mac. Americans filing for first-time unemployment benefits fell this week, signaling the job market continues to strengthen, despite tepid wage growth.



The 30-year fixed conventional rate, $417,000 or less, fell to 3.59% with 0.5 in points and fees. Weekly Initial Jobless Claims declined 9,000 in the latest week to 267,000, just below the 270,000 expected. It is expected that profits for the companies in the S&P 500 have declined 7.4% from a year ago. Quarterly earnings season kicks off next week with many analysts setting the bar low due to a slowdown in the first quarter of 2016.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Groups:
Realtors®
Realtors Needing the services of the Lending Powers
RE/MAX Active Rain Bloggers
Mortgage Bankers
Zillow Mortgage Marketplace
Tags:
mortgage bank
mortgage backed securities
tim carroll
52 week

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
784,246
Susan Laxson CRS
HomeSmart Professionals - La Quinta, CA
Local Knowledge & Global Network

Love that the interest rates are low for the start of the spring/summer season. Hopefully they will go even lower to spur the buyers to commit to purchasing! Thanks for sharing the update!

Apr 07, 2016 04:01 AM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
86,128

Tim Carroll

Area Manager at CMG Financial
Ask me a question
*
*
*
*
Spam prevention