Mortgage rates capped off a great week in sour fashion last Friday. After four days of stock selling induced rate rallying, lenders were finally forced to reprice for the worse on Friday. While mortgage rates did rise more than they have on average, the best 30 year conventional fixed loan rate was still...
Mortgage rates improved a few basis points yesterday, but only enough to recover loan pricing losses that occurred the previous day. A lack of meaningful economics data combined with a generally slow trading environment have kept mortgage rates in a tight range this week. Although benchmark Treasury...
Consumer mortgage borrowing costs improved a few basis points yesterday as prices of mortgage backed securities ticked higher, recapturing the price losses that occured late last week. As the price gains held through close, most lenders repriced better, lowering consumer borrowing costs by 0.125 to 0...
For mortgage rate watchers and interest rate shoppers, last week was rewarding. Lenders were able to offer progressively lower mortgage rates as prices of mortgage backed securities moved higher and higher over the course of the week. By Friday lenders had passed along the best rates of 2010. Improvements...
Last week ended basically where it began with prices of mortgage backed securities moving sideways near record highs and mortgage rates holding steady near six month lows. MBS traded in a very narrowing range as the week progressed which allowed lenders to publish base 30 year conventional mortgage rates...
Reports on the sales of both new and existing homes were released on Friday, March 23 and Monday, March 26 and they pointed in distinctly opposite directions. The National Association of Realtors (NAR) released figures showing an unexpected surge in existing home sales for February on the heels of a...
Is it the end of the end of the housing bubble ? The National Association of Realtors (NAR) seemed to think so as it issued its November report on the sales of existing houses, the second month in a row when sales showed slight improvement over the previous month. New home sales also showed signs of...
Freddie Mac's message might be, "Be A Patriot, Buy A House" - Or at least that seems to be the underlying message of Freddie Mac's July Economic Outlook Report. The monthly report, prepared by the Office of the Chief Economist, states that it is housing that is indeed providing substantial impetus to...
FREDDIE ISSUES JUNE ECONOMIC PROGNOSTICATION If you want to add a headache to your day's aggravation, you are invited to read the latest Economic Outlook report issued late Wednesday by Freddie Mac's Office of the Chief Economist. It isn't their fault, nobody seems to understand what is going on nationally...