A common complaint I hear from home owners is “How do I stop junk mail?” This is especially true for new home owners who find they’re bombarded by catalogs and advertisements intended for the previous owners. Not only is eliminating junk mail a personal convenience, but it’s also good for the planet. Who hasn’t lugged [...]
Jump to Summary Last Week; by the end of the week mortgage rates were unchanged from the previous Friday. The bellwether 10 yr note also essentially unchanged at 3.69% -1 BP. Short term rates however increased last week, somewhat preparing for the Fed withdrawing from the quantative easing programs initiated when the economic recession began; [...]
Last Week; after all the chopping around the longer end of the yield curve ended generally unchanged, mortgage rates and prices were unchanged. At the middle and short end of the yield curve rates increased, the 5 yr treasury increased to 2.41% up 7 basis points, the 2 yr note jumped 6 basis points to [...]
Last Week; interest rates increased on treasuries but remained unchanged for the mortgage markets The stock market rallied, defying those that continue to expect a big decline. Equity markets had a small retracement two weeks ago but it only lasted a few days and took the DJIA down 6.0% from its recent high last year. [...]
Last Week; wasn’t a good one for the economic bulls, and particularly those that think the housing markets are making a turn. Jan existing home sales were expected to have increased about 1.0%, they tanked to a decline of 7.7% with the inventory of unsold homes increasing to 7.8 month from 7.2 months in Dec. New [...]
Note the Red columns for 2009. In December 2009, a record low 23 thousand new homes were sold (NSA); this ties the previous record low set in December 1966. Sales in December 2008 were at 26 thousand. Last Week; interest rates spiked on continued better economic data and an increase in the producer price index. [...]
Last Week: interest rates on treasuries increased, the 10 yr note yield jumped 12 basis points,, mortgage rates however remained generally unchanged. The week brought the Greece deficit into full focus early in the week generating a little safe haven buying in treasuries but it didn’t las long as markets quickly realized the European Union [...]
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week.
In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week’s data and domestic story lines, it’s surprising that rates actually fell.
Since shedding 300 basis points in December, mortgage bond pricing has recovered a bit more than half of those losses. It’s helping with home affordability and opening new refinance opportunities around the country. This week, though, mortgage rates could rise back up. There’s a lot going on.
