Mortgage

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 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 8/14/09

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 7/3/09

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 6/12/09

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 5/15/2009

May 15, 2009

After several weeks of improving economic forecasts, weaker than expected economic data this week tempered some of the optimism for a near-term recovery, which was favorable for mortgage markets. Tame inflation data and sustained Fed purchases of mortgage-backed securities (MBS) also helped. As a result, mortgage rates fell moderately during the week. (CHFA rates also [...]

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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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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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