October 29th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 27th, 2009
STOCKS UP, RATES TOO. Equities gained today on the release of economic data that indicates the economy is breaking out of its slump faster than experts anticipated. The 3rd Quarter Gross Domestic Product (GPD) jumped 3.5%. The expansion of the economy fuels inflation concerns and investors shy away from bonds in favor of the stock market.
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StumbleUponOctober 28 Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 27th, 2009
TREASURY SALE A SUCCESS, STOCKS DOWN, MORTGAGE LENDERS REPRICING FOR BETTER. Today’s Treasury auction of 5-year notes saw a healthy demand and mortgage-backed securities (MBS) rose accordingly. As MBS prices increase, mortgage rates drop. Prices are now on the middle to high side of the range they have been trading in; today is a good day to lock in a low mortgage interest rate.
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October 27 Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 27th, 2009
CONSUMER CONFIDENCE DOWN, MORTGAGE LENDERS REPRICING FOR BETTER. The Conference Board reported that its Consumer Confidence Index (CCI) for October plummeted to 47.7, sharply down from the 53.5 that was expected. Going into the holiday season, it appears that consumers are less optimistic about their finances than experts had supposed. That is good news for bonds and mortgage-backed securities (MBS) because it means that consumers are less likely to spend money, slowing economic growth.
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Mortgage Rates Mixed for Week of Oct 26
By: Liz Freeman
October 26th, 2009
Mortgage rates for 30 year fixed rate (FRM) mortgage loans and 5/1 adjustable rate mortgage (ARM) loans rose, while rates for a 15 year FRM fell slightly. These mixed results could suggest an upward trend in current mortgage rates.
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October 23rd Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 22nd, 2009
CONSUMERS RACING TO BEAT DEADLINE FOR MORTGAGE CREDIT, MORTGAGE RATES INCREASE. The National Association of Realtors (NAR) reported that existing home (as opposed to newly-constructed) home sales for September were much higher than analysts expected, increasing by 9.4% –an annualized pace of 5.57 million sales. It looks like many first-timers are rushing to make the deadline and get their First Time Home Buyer tax credits. And there was more good news for the economy–the inventory of existing homes dropped to a 7.8 month supply, the lowest since March of 2007.
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October 22nd Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 12th, 2009
YESTERDAY’S MORTGAGE-BACKED SECURITIES GAINS UP IN SMOKE THIS MORNING. Stocks were aff at the end of trading yesterday and so mortgage-backed securities or MBS staged a nice rally and rates dropped. But mortgage interest rates remain firmly range-bound, meaning they haven’t put together a sustained drive in any direction.
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October 14th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 12th, 2009
STOCKS UP, BOND AND MORTGAGE-BACKED SECURITIES FALL. INTEREST RATES EXPECTED TO RISE. Today’s bond market opened down from yesterday’s strong finish as data indicated a stronger than expected economy. Stocks are in positive territory and the bond market is currently down. Expect to see mortgage rates similar to yesterday morning’s.
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October 13th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 12th, 2009
** FIRST TIME HOME BUYER TAX CREDIT EXTENDED FOR VETERANS ** To qualify, you must have served overseas for at least 90 days this year. For regular first-time home buyers, the deadline to get the credit is still November 30 so get your application approved and your loan funded ASAP.
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October 12th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 12th, 2009
RATES INCREASE TO KICK OFF HOLIDAY WEEK Columbus Day means the bond market is closed and mortgage-backed securities (MBS) are not being traded either. However, lenders are doing business and publishing rate sheets and you can lock your mortgage rate today in most cases. Today’s rates are higher as MBS pricing plunged at the end of the day last Friday and many lenders repriced for worse. This week will bring important data that could give markets a hard shove out of the narrow range they’ve been trading in for some time.
October 30th Best Mortgage Interest Rates and Lock Recommendation
By: Liz Freeman
October 27th, 2009
MORTGAGE RATES CORRECT, BOUNCE BACK INTO TRADING RANGE TODAY. Today’s mortgage-backed securities (MBS) market has opened up after this morning’s economic data failed to bring any surprises and stock markets opened with a whimper. Equities are not looking good today; the Dow has returned over half of yesterday’s surge with a loss exceeding 100 points so far. Bonds are up 11/32, but it is doubtful that rates will change today in front of the weekend.
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