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5 weeks ago, Wall Street was mostly convinced that the economy was about to turn a corner. At the time, traders were piling into the stock market, chasing big gains and selling everything risk-averse. Mortgage bonds were in very low demand and the supply glut pushed rates north of 6 percent. Since then, [...] today, mortgage rates are still higher than the government’s “ideal” sub-5 percent level, but Wall Street isn’t worrying about inflation as much. Data has improved in a lot of sectors, but it can’t necessarily be categorized as “strong”. Plus, gas prices are falling. Both of these developments are making a positive impact on mortgage [...] Mortgage rate volatility is back in a big way, folks. To put the pace of change in perspective, consider this: * In the last 60 days, lenders have issued 4 or more rates sheets in a day once per week * In the last 365 days, lenders have issued 4 or more rates [...] With rising mortgage rates threatening the housing market’s recovery and the employment sector showing signs of life, there was this pervasive nervousness on Wall Street pre-FOMC that the Fed would make a bold statement to keep the economy on track. This would have been awful for mortgage rates. More Fed action would have [...] To a consumer, one of the most difficult facets of shopping for a mortgage is figuring out just what mortgage rates are doing at any given time. Despite countless websites and blogs devoted to the topic of mortgage, the most important part of a person’s research — the darn price — can’t be found hardly [...] Mortgage rates are rising in this summer but don’t look so shocked — rates seem to rise every summer. As recorded by Freddie Mac, since 2006, 30-year fixed-rate conforming mortgage rate have made a habit of rising in May, June, July and August before settling down through football season. This year, the June Swoon [...] After a two-month period of relative calm, Memorial Day 2009 ushered in a new era of mortgage rate volatility. Over the last 5 days of trading, mortgage lenders have issued 19 separate rate sheets, or nearly four per day. Every 2 hours, in other words, mortgage rates are changing and when they… After two straight months during which mortgage lenders were apt to let morning rate sheets stand, volatility is returning to mortgage rates. Over the last 60 days, on average, lenders have released mid-day, interest rate updates on 3 days of the 5-day workweek. It’s making the process of shopping… Are mortgage rates going up? Are mortgage rates going down? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week’s survey may have your answers. *** Click the title to see complete post and [...] The Federal Reserve’s Agency MBS Program introduces massive amounts of demand for mortgage-backed bonds over a short period of time, creating a buy-side imbalance that leads bond prices higher and bond yields lower. It’s possible the Fed could expand the program, bringing mortgage rates down to the… *** Click the title to see complete post and [...] |
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