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Mortgage Rates & Trends: Mortgage Blog
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Current Mortgage Rates | Mortgage Rates | Friday, February 3, 2012
Yesterday Freddie Mac’s Primary Mortgage Market Survey saw hit new record lows, with the average rate on a 30 year fixed rate mortgage hitting 3.87%. Based on the events of this morning, I do not think we will see a new record next week. Mortgage rates are rising on the basis of a relatively strong jobs [...]
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Mortgage Rates: More Jobs = Higher Mortgage Pricing
A blowout Non-Farm Payrolls (NFP) report this morning has mortgage rates heading higher. After a week filled with data that was roughly in-line with expectations the NFP report blew away forecasts. The expectations were for 150,000 new jobs to be created in January, yet when the counting was done 243,000 new jobs were documented. This [...]
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Current Mortgage Rates | Mortgage Rates | Thursday, February 2, 2012
Mortgage rates are improving somewhat this morning, despite a positive initial unemployment claims report (recall that mortgage rates usually get worse on good news). In all likelihood everybody is awaiting tomorrow’s non farm payroll report, and we won’t see a lot of movement one way or the other today. According to Bloomberg, the consensus expectation for [...]
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Mortgage Rates: Change in Trend “Or Not”
As I discussed at the outset of this week, it was destined to be a very important week for mortgage rates. With more data of significance announced this week as compared to almost any other week during the year, we could see a major change in the mortgage trend. What has been a very favorable, [...]
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Current Mortgage Rates | Mortgage Rates | February 1, 2012
It seems as though that mortgage rates will rise today, as the stock market is rallying early on somewhat positive employment news from ADP (+170k jobs in December), the ISM Manufacturing report showing an expansion in manufacturing (index increased from 52.7 to 53.9 in December), and the news that a Greek debt deal is going to happen [...]
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Mortgage Rates: Obama to “Friend” Millions?
Today is the day that Facebook will file its initial public offering. There are also rumors that today is the day that President Obama will announce his plan to enable millions of homeowners to refinance at current historically low interest rates. In some ways, it’s as if he is sending a huge “friend request” to [...]
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Home Prices Continue to Fall, Still we Lack a Real Housing Policy
The housing sector is not going to lead the economy out of the woods, not anytime soon: Home prices are still falling, according to the S&P/Case-Shiller Home Price Index for November, released this morning. This, of course, is not really news for anyone who took economics 101 given the weak demand for homes and the [...]
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Current Mortgage Rates for Tuesday, January 31, 2012
Mortgage rates will likely remain near all-time lows today in light of mixed economic data this morning, and mixed news out of Europe. At this point the markets seem more rumor driven than data driven, and stocks are rising this morning on rumors that the Greek debt talks may be progressing (even though there are other [...]
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Mortgage Rates Preview for the Week of January 30-February 3, 2012
In addition to the crisis in Greece, there are many economic reports that will impact mortgage rates this week. The S&P/Case-Shiller Home Price Index, Chicago PMI, and Consumer Confidence reports being published today. ADP’s private sector employment report is published on Wednesday along with the ISM Manufacturing Index. Initial Jobless claims are reported on Thursday, [...]
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Mortgage Rates: Time for a Pause in the Records
Mortgage rates appear poised for a flat to higher opening for the day as strong economic news is reported and progress is made in Greek debt negotiations. Economic data to be reported in the US today includes the Case-Shiller Home Price Index at 9 AM, the Chicago PMI report at 9:45 AM and Consumer Confidence [...]
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