The S & P/ Case-Shiller Home Price Index is a monthly survey of home prices in 20 of the top metropolitan areas in the United States. Earlier today they released their data for the 2007 calendar year. Despite record losses for home prices in most of the areas the report follows Portland, Seattle, & Charlotte, […]
Mortgage rates ticked up this morning as the mortgage-backed bond market followed through on Friday’s trading pattern with lower prices. The National Association of Realtor reported better than expected existing home sales for the month of January. December’s figures were also revised higher. We’ll be watching for tomorrow’s Producer Price Index (PPI) report for clues […]
You Tube link to see rate update video: http://www.youtube.com/watch?v=8e4chKAMLqA The volatility ion the bond market has been unprecedented over the past few days. From Jan 22nd to today rates have increased from 5.00% up to 6.25% and now back down to 6.00% for 30 year fixed rates. Watch today’s you tube video to see what […]
You Tube link to see rate update video: no video today Technical trading patterns dominated the interest rate picture yesterday. After hitting the 200-day moving average yesterday morning mortgage-backed bonds have rebounded nicely recovering 100 basis points. There were a couple economic reports out this morning showing weak economic activity. For now we are going […]
You Tube link to see rate update video: http://www.youtube.com/watch?v=h1_qEX3Ye34 Yesterday marked the single highest increase in mortgage rates in a single day in over two years. I have posted the bond chart from yesterday showing the huge dip in prices we experienced (135 basis points). So what is the cause of this increase to mortgage […]
Mortgage rates are higher this morning in response to selling pressure in the bond market. The stock market rallied at the open this morning which pulled capital out of the bond market. Here are a couple headlines which are likely helping to boost stocks this AM: *Retail bellwether Wal-Mart posted better than expect quarterly earnings- […]
The financial markets are closed today in recognition of President’s day. No rate update will be posted today.
You Tube link to see rate update video: http://www.youtube.com/watch?v=ahSQXn-MvNo The blood bath continued yesterday in the mortgage-backed bond market as prices slipped another 65 basis points pushing fixed rates higher by .125%. 30 year fixed rates have now increased by almost 1.00% since January 22nd. Watch today’s you tube video to find out why and […]
There was a great article in Consumer Reports that was sent to me recently by a colleague. Consumer reports ran some hypothetical scenarios where a person had the option of either investing or prepaying their mortgage by $100 per month. The results? You’re better off investing the money in the long-run. Check out their article […]
The stock market rallied again yesterday pulling capital out of the bond market and driving mortgage rates higher. Mortgage backed bonds have now lost 175 basis points since January 22nd. In his testimony to Congress this morning Fed Chairman Ben Bernanke indicated that significant downside risks remain in our economy including the housing & labor […]