Mortgage

Mortgage Rate Update 4/3/09

April 3, 2009

Mortgage rates seem ready to stabilize for an extended period of time, and our rates this week remain unchanged from last week. The stock market ended the quarter on another down cycle and corporations struggle through another tough quarter. This contributed to some additional improvement in mortgage rates early in the week, but returning to [...]

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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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Home Affordable Modification Program

March 4, 2009

Image by Rev Dan Catt via Flickr Derek Overbey of Roost.com posted a nice compilation of the highlights of President Obama’s Home Affordable Modification Program on his blog today. The entire 17 page document can be found here if you wish to read it in its entirety. Basically, if you want to take advantage of [...]

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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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Mortgage Rate Update 2/20/09

February 20, 2009

Mortgage rates took a step towards the sub 5% range this week, reacting positively to President Obama’s mortgage rescue plan. More unease in equities and lots of government assistance coming into the mortgage market will help borrowers, lenders and servicers increase mortgage finance activities, and may sustain the downward trend of the current rates. A [...]

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Mortgage Rate Update 2/13/09

February 15, 2009

Mortgage rates have remained flat in the low 5% range. Mortgage bonds have experienced positive pressure coming out of equities negative response to a lack of details and mechanics of the implementation of the remaining TARP funds. However, lenders are still overwhelmed with existing inquiries to refinance–resulting in few lenders to re-price their rates on [...]

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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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