Our Mortgage Advice for the Week of March 15-19, 2010

What happened last week?

Weaker than expected economic data moved the thirty year fixed rate slightly lower early in the week but a stronger than anticipated Employment report left rates relatively unchanged as of close of business Friday. “ 30 year fixed mortgages are helping to maintain affordable home-purchase conditions,” said Frank Nothaft, Freddie Mac vice [...]

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Our Mortgage Advice for the Week of Febuary 22-26, 2010

What happened last week
“Mortgage rates eased for the second week, while economic data releases suggest that the housing market may be in a slow state of recovery.” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “The National Association of Realtors® (NAR) reported that existing home sales rose in 48 states and [...]

Our Mortgage Advice for the Week of Feb. 8-12, 2010

What happened last week
The biggest influence on mortgage rates this week came from outside the US. Concerns about the possible default of sovereign debt in smaller nations caused investors to seek the relative safety of US fixed income securities. This week’s economic data was roughly balanced in terms of positive and negative surprises. The added [...]

Our Mortgage Advice for the Week of Feb. 1-5, 2010

What Happened last week:

“Mortgage rates held steady last week ahead of the Federal Reserve’s (Fed) policy committee meetings” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “The Fed announced on January 27th that economic activity has continued to strengthen. It also noted that with substantial resource slack continuing to restrain cost [...]

Our mortgage advice for the week of January 25-29, 2009

What happened last week
Mortgage rates eased slightly for the third week in a row putting the 30 year fixed rate at 4.99% and .7% discount and the 15 year fixed rate at 4.40% and .6% discount. “Fixed mortgage rates followed bond yields lower for the third consecutive week, pushing 30-year mortgages below 5 percent once [...]

Our Mortgage Advice for the Week of January 18-22, 2010

What happened last week?

“Interest rates for fixed-rate mortgages eased a little further last week, while ARM rates were mixed” stated Frank Nothaft, chief economist for Freddie Mac. He continued by saying “With fixed mortgage rates staying near a record low, many homeowners are taking the opportunity to refinance. However, the Federal Reserve recently reported positive [...]

This weeks Mortgage Advice for January 11-15, 2010

Present Market Conditions
Mortgage rates eased slightly after five weeks of increases. The 30 year fixed rate ended the week at 5.09 with .7% discount down from the previous week’s price of 5.14. The 15 year ended the week at 4.50 with .7% down from 4.54. “Mortgage rates eased slightly this week after rising consecutively through [...]

Mortgage Rates on the rise this week

Follow this bouncing ball…
Like the Celtics and Lakers of old,  the bulls and bears have swatted Mortgage Bonds back and forth between resistance and support.  And the blows have been hard to handle, as prices have been very volatile in both direction.
Bond prices have fallen 162bp in the last 10 trading sessions and 100bp since [...]