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Mortgage Rate Update 6/19/09

June 20, 2009

The current trend of rising interest rates has put a damper on many real estate deals as rate locks expire and buyers are forced to either accept a higher rate or pay points to get the rate back down to where it was. Others are using the rate increases as motivation to finally get off [...]

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Mortgage Rate Update 6/12/09

June 13, 2009

The sharp rise in mortgage rates in recent weeks has dampened what had been a boom in mortgage refinancing and has threatened to squelch signs of a budding recovery in the housing market. However, there is disagreement among Fed officials as to whether additional stimulus is needed. Some believe more should be done to help [...]

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Mortgage Rate Update 6/5/09

June 5, 2009

Mortgage rates continue to push upwards, including CHFA rates, which have been holding below 5% for some time.. There is growing concern that a rapidly declining appetite for US government debt will increasingly make it difficult for the Federal Reserve to hold down mortgage rates. Making matters worse for rates is the growing discussion of [...]

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Mortgage Rate Update 5/22/09

May 23, 2009

While weaker than expected economic data pushed mortgage rates lower last week, concerns about the coming supply of debt needed to pay for government programs moved mortgage rates higher this week, leaving rates nearly unchanged over the past two weeks. For expert assistance with your financing needs, call our in-house mortgage executive, Rick Cannavaro, at [...]

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Mortgage Rate Update 4/3/09

April 3, 2009

Mortgage rates seem ready to stabilize for an extended period of time, and our rates this week remain unchanged from last week. The stock market ended the quarter on another down cycle and corporations struggle through another tough quarter. This contributed to some additional improvement in mortgage rates early in the week, but returning to [...]

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Mortgage Rate Update 3/27/09

March 27, 2009

Mortgage rates dropped into the high 4 percent range this week and continue to hold at record lows. Almost totally held by Fed actions in the market–buying mortgage-backed securities and long-term treasuries–there are fears of a rapid reversal in the trend. Key economic data today with the PCE numbers and subtle indicators in recent GDP [...]

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Mortgage Rate Update 3/20/09

March 21, 2009

There was some excitement today as rates in some areas dipped as low as 4.75%, but it seemed to be short-lived. Rates here continue to hold their sideways pattern, and should continue to do so for the foreseeable future, but at least the 30-year is at an even 5 percent.  The Fed buying long-term treasuries [...]

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Mortgage Rate Update 3/13/09

March 14, 2009

Mortgage rates received tremendous upward pressure this week, but they recovered to flat, and actually have ticked down a bit. The multi-day stock market rally and some strong economic indicator surprises, like retails sales and inventories, have pushed on MBS yields. However, unemployment numbers, home sales, and housing prices all showing strong negative results will [...]

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Mortgage Rate Update 2/27/09

February 28, 2009

Mortgage rates have taken a turn for the worse this week, but not by much. Bond selling and a small rally in equities are the main culprits. Banks are looking for any reason to re-price higher, plus there is still considerable credit constriction in the market. It is hoped that implementation of President Obama’s mortgage [...]

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Mortgage Rate Update 2/20/09

February 20, 2009

Mortgage rates took a step towards the sub 5% range this week, reacting positively to President Obama’s mortgage rescue plan. More unease in equities and lots of government assistance coming into the mortgage market will help borrowers, lenders and servicers increase mortgage finance activities, and may sustain the downward trend of the current rates. A [...]

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