Freddie Mac’s Weekly Primary Mortgage Market Survey (PMMS) was released this morning.
As we were talking about last week, we have an unprecedented spread between the 30 Year and 15 Year mortgages. In the past week, the 30 Year held at 4.22%, the 15 Year ticked down [...]
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Freddie Mac’s PMMS survey for this week hit and the results are interesting.
After finding 50-year lows last week, mortgage rates ticked up .07% to 4.22% this week for the 30-year.
The 15-year saw a similar increase, up .08% to 3.44%.
However, [...]
Continue Reading →If you’re looking a buying a home this year, this is yet another economic report forecasting higher rates and Gaddafi doesn’t have enough pages in his green book to hold our mortgage rates down forever.
Continue Reading →This year has seen mortgage rates retrace historical lows a few times. Since this rate rally began in November, mortgage rates are off almost a full 1%.
Using Freddie Mac’s April and October data, we’re looking at the total savings on a sample $200,000 loan.
In payment alone, we see savings of almost $105 per [...]
Continue Reading →Mortgage rates improved yet again last week on continued bad news out of Greece, now to the point where it is impacting the entire Eurozone.
Continue Reading →Mortgage rates just took a nice turn towards the end of the day in what was otherwise very quiet. If mortgage bonds can sustain their current levels, they’ll close just above key numbers at the 50- and 100-day moving averages.
We’re still right around 5% on that benchmark 30 Year Fixed. The 5/1 ARM [...]
Continue Reading →Stocks are currently down .18%. Bond prices are up .03. Mortgage rates are virtually unchanged.
If you are bored and want volatility, sit tight: The Fed policy statement is out within a few hours and we’ll see a whole day’s worth of trading in about 10 minutes. If the Fed is rosy on the economy, [...]
Continue Reading →It has been moderately quite for mortgage rates today. There is very little on the economic calendar today.
Yesterday’s Alcoa and Chevron results struck fear in the stock market and bonds soared on the day. There’s not a lot to drive the market today so it should be the normal give & take between stocks [...]
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