Jumbo mortgage

Mortgage Rate Update 9/4/09

September 5, 2009

Investor sentiment about the economic recovery fell this week, and the stock market declined. Expectations for slower economic growth are favorable for bond markets, including mortgage-backed securities (MBS), and mortgage rates ended the week a little lower. The important monthly Employment report showed mixed results. Against a consensus forecast for a loss of 225,000 jobs [...]

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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 8/7/09

August 7, 2009

With just minor exceptions, all of the economic data released this week beat the consensus forecast, indicating that the economy is improving more quickly than expected. While current inflation levels remain low, faster economic growth generally leads to higher future inflation, which is negative for mortgage rates. As a result, mortgage rates ended the week [...]

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Mortgage Rate Update 7/24/09

July 26, 2009

While the economic data released during the week generally matched expectations, the outlook for future economic growth improved due to strong earnings reports, tame inflation data, and a revised forecast from the Fed. Stronger economic growth was good news for the stock market, and the Dow rose over 500 points. It was unfavorable for the [...]

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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 5/1/2009

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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