Federal Housing Administration

Mortgage Rate Update 8/28/09

August 29, 2009

There were few surprises in the economic data released this week, and the record $109 billion in Treasury auctions went smoothly. As a result, it was a quiet week for mortgage markets. This week’s economic data showed signs that the economy is gradually improving, while inflation is not a concern right now. Demand remained solid [...]

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Mortgage Rate Update 8/21/09

August 24, 2009

Strong manufacturing and housing sector data contributed to a rally in the stock market this week. This would ordinarily push mortgage rates higher, but the strong economic news was offset by tame PPI inflation data and a significant increase in Fed purchases of mortgage-backed securities (MBS), leading to a small decline in mortgage rates during [...]

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Mortgage Rate Update 8/14/09

August 16, 2009

Tame inflation data, strong demand for the Treasury auctions, and a lack of surprises from the Fed were all positive for mortgage markets, and mortgage rates ended the week lower. As expected, the Fed held the fed funds rate steady on Wednesday, and its statement contained few changes. The Fed suggested that economic activity is [...]

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Mortgage Rate Update 7/10/09

July 11, 2009

With a light schedule for economic data, Treasury auctions had the greatest impact on mortgage rates during the week. Strong demand for the auctions and declines in the stock market helped mortgage rates end the week lower. In recent months, mortgage rates have been heavily influenced by concerns about the enormous amount of debt the [...]

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Mortgage Rate Update 7/3/09

July 4, 2009

There was very little daily movement in mortgage rates during the holiday-shortened week, and they ended the week nearly unchanged. The economic news during the week contained few surprises. Following better than expected results for May, investors were closely watching the June Employment report for clues about the timing of any economic recovery. Thursday’s data [...]

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Mortgage Rate Update 6/26/09

June 27, 2009

The dramatic increase in interest rates since May 28th has reduced refinance activity significantly.  For many homeowners the higher interest rates eliminate the benefit of refinancing.  Though the rates may decrease from today’s level, it seems unrealistic to hope for them to plunge back into the 4s.  On Monday, the MBA slashed its forecast for [...]

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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 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 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 4/24/09

April 24, 2009

Mortgages rates started the day higher, but are beginning to recover. The strength of equities has started to sell off on details of the bank stress tests. This sell-off is starting to drive some investors back to the safety of bonds, which is recovering the MBS market back to a mortgage rates neutral level for [...]

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