mortgage rates

Mortgage Rate Update 9/11/09

September 11, 2009

In a light week for economic data, the Treasury auctions had the greatest influence on mortgage markets. Strong auction results, particularly for the 30-yr Treasuries, helped mortgage rates move lower during the week. In recent months, mortgage rates have been heavily influenced by concerns about the enormous amount of debt the government needs to issue [...]

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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 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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