The Case-Shiller Index was released on Tuesday. It revealed only a 2.5% drop in home values, significantly better than the 8.7% drop reported after 2009 Q3.
Continue Reading →The FHA interest rate was under heavy selling pressure all week and lost ground for the second week in a row. The primary causes were inflation figures that came in higher than expected and then two pieces of news from the Federal Reserve.
Continue Reading →The FHA interest rate is now at its highest level of the year.
Yesterday’s release of the Federal Reserve Minutes from the January meeting sent mortgage rates higher.
Continue Reading →According to the Census Bureau, 2.8 million people commute to work 90 minutes or more each day, in each direction. Now, your daily commute may not be as long, but time spent in cars, trains and buses is time away from work and from family.
Continue Reading →FHA interest rates ticked higher last week, although they didn’t jump as much as they could have. It was the first time in five weeks that rates ticked higher.
Continue Reading →The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening.
Continue Reading →Of last week’s domestic news, they were all things that cause rates to go up. Yet, the FHA interest rate dipped for a 4th consecutive week.
Continue Reading →Just a quick mid-day update: Since opening significantly lower after the jobs report, mortgage bonds have rallied. The FHA loan rates have recovered all of the losses from opening bell and are now up 18 basis points.
We are now overbought according to every technical signal so the market could move quickly if it reverses. [...]
Continue Reading →Expectations were for job creation of about 15k. We lost 20k jobs on the month. On this negative economic news, the FHA interest rate should have normally improved, but nothing is normal these days.
Continue Reading →Our mortgage rate predictions aren’t looking so good this week. We really thought that yesterday’s ADP report and tomorrow’s Non-Farm Payrolls account would be the market movers. They weren’t. Global fear turned out to be the main story, so far, this week.
Investors have pulled out of the stock market with the Dow now below [...]
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