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Mortgage Rate Update 4/5/10

April 5, 2010

Stronger than expected Employment data and the end of the Fed’s MBS purchase program were negative for mortgage markets. Mortgage rates ended the week at the highest levels since January. Investors viewed Friday’s Employment report as positive for the economy, which means it was bad news for mortgage markets, and mortgage rates climbed after its [...]

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Mortgage Rate Update 3/12/10

March 15, 2010

During a very light week for economic news, the economic data and Treasury auctions contained few surprises and produced little reaction in mortgage markets. Mortgage rates ended the week nearly unchanged. In early 2009, the Fed embarked on a $1.25 trillion mortgage-backed securities (MBS) purchase program to help keep mortgage rates low and stimulate the [...]

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Mortgage Rate Update 2/19/10

February 20, 2010

While investors began the week watching for fresh information about Greece and China, the Fed stole the spotlight on Wednesday with news that was unfavorable for mortgage markets, and mortgage rates ended the week moderately higher. The Fed currently has significant influence on mortgage rates. Over the last year, the Fed pushed mortgage rates lower [...]

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Mortgage Rate Update 2/12/10

February 12, 2010

Global events in China and Greece had a significant impact on US mortgage markets this week, but in opposite directions. In addition, demand was much weaker than average for the 10-year and 30-year Treasury auctions, which pushed up yields. The net result was a slight increase in mortgage rates from last week. A surprise announcement [...]

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Mortgage Rate Update 2/5/10

February 5, 2010

The biggest influence on mortgage rates this week came from outside the US. Concerns about the possible default of sovereign debt in smaller nations caused investors to seek the relative safety of US fixed income securities. This week’s economic data was roughly balanced in terms of positive and negative surprises. The added demand for safer [...]

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Mortgage Rate Update 1/22/10

January 23, 2010

While the economic data released this week had little impact, mortgage rates were heavily influenced by two big stories. One was an announcement that China will take steps to slow its economic growth and the other was President Obama’s proposed new restrictions on the activities of financial institutions. Both measures are expected to lead to [...]

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Mortgage Rate Update 1/8/2010

January 8, 2010

Welcome to the first mortgage rate update of 2010! Over the last few weeks, many economists have been raising their forecasts for economic growth in 2010. The economic data released this week generally did not support this outlook, however, producing some daily volatility. As a result of the weaker than expected data, mortgage rates ended [...]

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Mortgage Rate Update 12/18/09

December 18, 2009

In a week full of major economic news, mortgage rates ended with little change. Wednesday’s Fed meeting produced little reaction in mortgage markets. The PPI inflation report was higher than expected, but the more closely watched CPI report was right on target, remaining at low levels. Economic troubles in some developing nations produced a flight [...]

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Mortgage Rate Update 12/11/09

December 13, 2009

This week’s economic news was mixed for mortgage markets. A speech from Fed Chief Bernanke pushed mortgage rates lower early in the week, but weak results in the Treasury auctions caused them to turn higher again later in the week. In the end, mortgage rates finished with little net change. Despite a stronger than expected [...]

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Mortgage Rate Update 12/4/09

December 4, 2009

It was a tough week for mortgage markets after performing very well for several weeks. Surprisingly strong economic data and a better than expected economic outlook from the Fed ramped up concerns about inflation. Those concerns resulted in higher yields and higher mortgage rates during the week. Unemployment took center stage this week; after forecasting [...]

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