First Time Home Buyers
From the monthly archives: August 2008
Mortgage bonds are trading higher today, thus pushing rates a little bit lower. We’re starting to see something that’s very good for all parties–reduced inflation.
Yes, we’re posting year-over-year records in CPI numbers, but the underlying commodities are off significantly and this is great for future reports.
We had a post a few months back, [...]
Continue Reading →Bonds are slightly improved today in spite of higher than forecast inflation numbers. The Consumer Price Index indicates a 5.6% year-over-year increase in prices, the highest since 1991.
For conforming loan products, this inflation data may or may not push rates higher. Since Fannie Mae and Freddie Mac are loading in extra fees for even [...]
Continue Reading →Mortgage bonds were trading higher today, thus pushing mortgage rates lower in early trading. Macy’s and Deere & Co.’s earnings missed expectations.
However, due to some concerns, mortgage bonds reversed and closed down about 20 basis points. Import Prices soared a record year-over-year 21.6%. This is a staggering figure; however, if oil prices can stay [...]
Continue Reading →Mortgage bonds took a beating yesterday, dropping nearly 50 basis points.
In the news today, the US trade deficit hit its lowest number in over 6 years. Exports touched a record $164 billion; however, with the surge in Oil prices, imports hit a record $221 billion.
Mortgage bonds are in a bit of a recovery [...]
Continue Reading →Mortgage bonds are trading lower today and keep on eye on crude oil. There is unrest between Georgia and Russia and that can have an impact on eye markets.
Home loan rates are slightly higher today on the basis of early trading.
The economic calendar for the week will be dominated by Wednesday’s Retail reports [...]
Continue Reading →What an interesting start to another volatile day.
First, Fannie Mae posted a far bigger than expected loss and slashed the dividend by 86%. Mortgage bonds dropped lower after yesterday’s rally.
Stocks pointed towards a mixed open before jumping higher. Driving this stock rally is pretty good news with oil hitting $117, well of an [...]
Continue Reading →Volatility continues…but what else is new?
After a series of bad news for mortgage rates, the sell-off reversed mid-day Wednesday and the market surged back by about 38 basis points.
Today, on less-than-expected earnings reports from Wal-Mart and AIG, mortgage bonds are up about 22 basis points. The European Central Bank and Bank of England [...]
Continue Reading →Mortgage rates are higher today due to the Fed not raising rates yesterday.
With that statement, we’re able to begin a very odd Rate Update post today. From time to time, we receive emails and calls from people wishing to refinance before the Fed “raises rates.”
Rates are attempting to stabilize as we speak, but [...]
Continue Reading →The stock market is currently up over 200 points, the mortgage bond market is only off slightly.
Oil is down big today, seeing the underside of $120 for the first time in a while. Proctor & Gamble saw a 33% increase in net profits and the market was sort of riding that nice earnings announcement.
[...]
Continue Reading →A 27-year high for June’s overall inflation figure, a 0.8% jump, caused mortgage bonds to sell-off earlier today under continued inflation concerns. Year-over-year Personal Consumption Expediture (PCE) data was at 4.1%. The Core PCE, which excludes food and energy, was still at 2.3%.
Let’s dial into these June numbers:
Personal Income: Up .1% [...]
Continue Reading →