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After hitting record lows of 3.94% with 0.8 points the week of October 3, rates rose and have been hovering .25% to .375% higher than that. A primary reason rates rose is market optimism about Eurozone leaders acting more forcefully to contain problems with insolvent member nations like Greece. Eurozone...
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Bond prices have backed up sharply over the last week. The price of the 10-year Treasury note has lost almost 3 points since last Monday (10/3), pushing its yield from a low of 1.76% to around 2.17% on Tuesday (10/11) morning. The driving factors are a modest recovery in stock prices (the DJIA has risen...
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Lower interest rates following the Federal Reserve's announcement fueled a surge in mortgage applications late last week. According to the Mortgage Bankers Association (MBA), its Market Composite Index which measures the volume of those applications increased 9.3 percent on a seasonally adjusted basis...
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Follow up: Refinance America: A New and Improved Plan In a recently published study by the Federal Reserve they confirm what millions of American homeowners know first hand and what most professionals in the housing finance industry have known for over a year: namely, that millions of American homes...
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Rates are bouncing around near record lows set last October and consumers are looking to seize the opportunity. There's always a rush by consumers and loan agents to lock rates on dips, and that practice is all the more prevalent when extreme daily rate swings raise the sense of urgency. But before you...
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MBSonMND : MBS MID-DAY : More Record Highs! Open MBSonMND Dashboard FNMA 3.5 101-23 : +0-25 FNMA 4.0 104-15 : +0-25 FNMA 4.5 106-09 : +0-31 FNMA 5.0 108-03 : +0-20 GNMA 3.5 103-00 : +0-16 GNMA 4.0 106-03 : +0-26 GNMA 4.5 108-10 : +0-13 GNMA 5.0 110-04 : +0-08 FHLMC 3.5 101-19 : +0-16 FHLMC 4.0 104-14...
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Last week the intense rally in bond markets helped mortgage rates reach their best levels of the year, but the rally came to an end on Friday. Then on Friday evening, news the S&P downgraded the US Sovereign Debt Rating set a chain of events in motion that completely rocked the markets. Despite steep...
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Long-term interest rates continued to drop during the week ended January 8 according to data released by Freddie Mac Thursday morning. The Primary Mortgage Market Survey recorded the tenth consecutive week of mortgage rate declines and the 30-year fixed-rate mortgage (FRM) established yet another record...
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Interest rates continued their slow but steady decent during the week ended December 31 according to results of the Primary Mortgage Market Survey released by Freddie Mac Wednesday morning. The 30-year fixed-rate mortgage (FRM) hit yet another historic low during the week averaging 5.10 percent, the...
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Mortgage interest rates have been seesawing like the stock market over the last few weeks and this week they again took some mega-jumps. According to Freddie Mac's Primary Mortgage Market Survey for the week ended October 30, the 30-year fixed-rate mortgage (FRM) increased from 6.04 percent with...
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The near panic gripping Washington and most of the rest of the country served to stop the downward trend in mortgage interest rates which has been in play for the previous eight weeks when rates were either unchanged or declined. According to the results of the Freddie Mac Primary Mortgage Market Survey...
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Kansas City Fed President Thomas Hoenig (non-voter) says that inflation is becoming embedded in the economy and that may compel a significant interest rate hike . In a speech in Denver, Colorado, Hoeing that consumers are showing an "inflation psychology to an extent that I have not since the 1970s and...
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The International Monetary Fund said in a World Economic Outlook report that more rate cuts could be necessary from the U.S. Federal Reserve. The IMF revised down growth expectations for the U.S. in 2008 to 0.5% from 1.5% forecast in January. For 2009, U.S. growth is expected at 0.6%. "The effects of...
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NOTE: Follow daily mortgage rate activity with our blogs: A blog for Mortgage Professionals A blog for Consumers interested in following mortgage rates Mortgage rates continued to grow in the most recent week, now approaching very close to the level of interest rates at the beginning of the year. This...
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In a nearly unprecedented move the Federal Reserve early Tuesday cut the Federal discount rate by .75 of a point, the largest single rate cut in 20 years. The move did not come at one of the Fed's regularly scheduled meetings but rather overnight in response to some truly dreadful news from foreign stock...