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Mortgage Rate Update 4/12/10

April 12, 2010

Although this week’s economic data was generally stronger than expected, it was overshadowed by solid demand for the Treasury auctions and intensified concerns about the economic situation in Greece, which helped mortgage markets. After reaching the highest levels since August, mortgage rates ended a little lower than where they ended last week. Recent increases in [...]

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Mortgage Rate Update 5/1/2009

May 1, 2009

In anticipation of the announcement of favorable new Fed actions, mortgage rates moved lower early in the week. Some investors were looking for the Fed to expand its purchases of Treasury securities, which would be positive for mortgage rates. Those investors were disappointed, however, as the Fed announced no new initiatives. The Fed made no [...]

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Mortgage Rate Update 4/10/09

April 10, 2009

Mortgage rates moved up slightly for the week nationally (but stayed at last week’s rates here), and remain under 5%. The short holiday trading week and little economic reporting supported mortgage rates holding flat through most of the week. Mortgage rates still remain below 5%–a historically low level. This stability has increased housing demand and [...]

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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 3/6/09

March 7, 2009

Mortgage rates repriced lower on Tuesday. Meanwhile, treasuries continue to trend higher as the bond market begins to get nervous about mounting Federal deficits. The disparity between MBS and treasuries is creating volatility and uncertainty in mortgage rates. Mortgage rates are expected to encounter even more volatility going forward as markets continue to react to [...]

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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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Wallingford Market Update January 2009

February 11, 2009

The Wallingford housing market showed some signs of life in January. There were fewer listings to sell, sales were up 67% from December and they sold almost 25% quicker, and expired listings were almost half of the previous month. The average sales price decreased, but this was largely due to the absence of the new [...]

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