August 2008 - Mortgage Rate Watch

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"Bernanke on Housing's Role in Recovery; Mortgage Rates Battle Back"

Published: 2/10/2012

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Friday - 8/29 - 2 steps forward, 0.1 steps back

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by Matthew Graham on August 29 2008, 11:31 AM

We have given back some of our gains (gains in Mortgage Backed Securities aka MBS which translate to lower rates) this morning due to positive economic news and negative inflation news. The Chicago PMI, which correlates to manufacturing sector strength...
Thursday 8/28 - Good Week Continues!

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by Matthew Graham on August 28 2008, 12:41 PM

We have had a great run this week despite positive news on the economy (recall that POSITIVE news is generally NEGATIVE for mortgage rates). It seems investors are paying more attention to tame inflation talk from the feds then the positive reports are...
Monday 8/25/08 - Strong Through The Week

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by Matthew Graham on August 25 2008, 8:56 AM

Other than a big bump in the road on Thursday, Mortgages held steady throughout the week. The markets, as we discussed, made a bet on the current inflation data "not mattering" as much as it should due to recently lower commodity prices. Then...
Tuesday 8/19 ... Mortgages Staying Strong

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by Matthew Graham on August 19 2008, 7:57 PM

Ever since we received the "good news," which was not really news at all, but rather the markets' reacting less violently to the CPI report than expected, we have not lost much ground despite varying degrees of "friendliness" coming across in the data...
Thursday 8/14 ... A Great and Paradoxical day.

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by Matthew Graham on August 14 2008, 10:20 PM

Today saw the release of the much anticipated CPI report. (consumer price index). This is one of the most closely watched gauges of inflation. As we have discussed in the past, rising inflation is not good for mortgage rates as it erodes the value of...
Tuesday 8/12 ... What follows a down day?

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by Matthew Graham on August 12 2008, 1:56 PM

In this market, it's a almost a reliable bet that whatever happened yesterday, the opposite will happen today. Unfortunately the simple fact that mortgage pricing should be slightly improved this morning doesn't tell the whole story. MBS (mortgage backed...
Monday 8/11 ... More Back And Forth

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by Matthew Graham on August 11 2008, 10:53 PM

It has been recently noted by more than one financial analyst that these last two weeks have seen more "ups and downs" across all market sectors than most any other time in history. To those of use waiting to lock a mortgage rate or simply trying to follow...
Tuesday 8/5 ... One FOMC Announcement Later

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by Matthew Graham on August 05 2008, 9:27 PM

The Federal Open Market Committee (FOMC) released it's monetary policy decision today which was exactly as the markets had planned: no change to benchmark lending rates. Even if they had raised rates, it wouldn't necessarily be bad news for mortgages...

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