Could this be a turnaround in the mortgage market? The lowest mortgage rates in history coupled with an upswing in purchase applications?
This morning has been a bit of a roller coaster ride as Treasuries and mortgage bonds opened up intially then abruptly dropped after stronger than expected economic releases showed evidence of a U.S. recovery. This is leading investors to speculate that the Federal Reserve may not step up quantitative easing.
Yesterday, mortgages held strong on the prospect of a second round of quantitative easing and on the strength of the 5-year notes auction which drew the lowest yield since the government began quarterly sales of the securities. No real economic news is scheduled for release today, but we have a 7-year note auction at 1 p.m. and three Fed speakers on tap.
In this week’s Watch-It Wednesday, Quicken Loans Chief Economist, Bob Walters, walks us through the differences between adjustable rate mortgages and fixed rate mortgages.
Ever wonder how your credit score affects your mortgage? We take a look at the top 5 cities with the highest & lowest credit scores and discuss the ways that a good credit score can positively impact your home loan rate.
Treasuries rallied yesterday ahead of the $36 billion 2-year note auction which received the highest demand in more than 3 years. This morning, we have some negative headlines coming from fear of a downgrade of Spanish and Irish debt. In economic news, the S&P home price index showed that home prices in 20 U.S. cities rose at a slower pace in July compared to a year earlier. The September consumer condidence report is expected to show a decline.
Great post about our move to downtown Detroit in the SustainableCitiesCollective blog. I’ll put part of it here, but please read the entire post. It [...]
With homeowners at risk of foreclosing due to the downed economy, mortgage fraud cases jumped 55% in 2010. This problem has become even more serious as many struggle to get by in this jobless recovery.
Treasuries are up this morning as market participants speculate this week’s manufacturing report will show that growth slowed in September. This week’s key economic reports include Tuesday’s July S&P home price index and September’s Consumer Confidence, unemployment and GDP numbers on Thursday, along with Friday’s ISM manufacturing index.
A great article in the Wall Street Journal Blog yesterday explains how qualifying for larger loans might get more difficult in the next few months.