Mortgage rates are unchanged so far today. The US Treasury will auction off $16 billion in 30-year bonds today. The auctions this week have been met with strong demand which is expected given the fears surrounding the EU debt crisis. Strong demand for US debt securities is a good sign for mortgage rates. Don’t look […]
I’ve covered the topic before on ‘rate update‘ but I thought I would write a small blurb this morning because the WSJ had an interesting article on the topic. As you may be aware the US sells a lot of it’s debt to foreign investors around the world. When I say “debt” I mean US […]
Mortgage rates are improved from Friday morning (the bond market was closed yesterday for the holiday). Higher than expected inflation numbers out of the UK are sending long-term yields higher in Europe this morning. At the opening of trading here in the US it looked as if this news would also pressure mortgage rates higher. […]
Mortgage rates are slightly improved from yesterday morning. Probably the biggest economic story of the day is that the Commerce Department reported that GDP increased by 3.5% in the 3rd quarter; technically ending the “Great Recession” (don’t you feel better now?:) ). Analysts had expected an increase of 3.2% so the headline number is better […]
After moving higher yesterday, mortgage rates have reversed back down to the levels seen on Wednesday. Why the sudden reversal? In yesterday’s ‘rate update’ video I reported that foreign participation in the US Treasury auctions were relatively light through Wednesday. This is a bad sign for mortgage rates because if foreign investors don’t buy our […]
There are very few people in the business world that I respect more than Warren Buffett (hereby referred to as “WB”). His skill, success, conviction, simplicity, and humor are all characteristics that I have a deep admiration for. In the past I’ve read several books which cover WB’s investment style but lack significant biographical detail. […]
Kudos to Barron’s for being the most pro-active in reporting on the Fannie Mae and Freddie Mac saga. It was Barron’s that posed the question on their March 10, 1008 cover, “Is Fannie Mae Toast?”. Then back on August 17th they published an article questioning the solvency of these two institutions (here’s a link to […]