Yesterday, mortgage prices moved higher after a strong 5-year auction. Over 80 percent of companies in the S&P 500 have reported second-quarter results higher than analyst estimates, moving 10-year treasury prices lower while mortgage bonds have stayed relatively flat. Today, mortgages are slightly lower from yesterday’s close before the sale of $29 billion 7-year notes, the last of three note auctions this week.
Home values continue to fall, meaning if you’re looking to refinance – the time to act is now. Don’t miss your chance to refinance and take advantage of record low mortgage rates.
U.S. treasuries were up this morning on speculation that the Federal Reserve’s Beige Book report will show that the U.S. recovery is slowing, which is pushing expectations that rates will stay low fom some time. Durable goods orders came in a little worse than expected and this is the second consecutive monthly decrease. Also, we have a $37 billion 5-year auction today at 1 p.m.
Bob Walters, chief economist for Quicken Loans, discusses in USA Today the difference between today’s refinancing market and markets of the past. Can you still save money if you have to bring cash to the table when you refinance?
U.S. treasuries and mortgages are slightly lower today as a report in Germany showed that their consumer confidence increased in August. Today’s May S&P/Case Shiller Composite – 20 home price index was expected to be unchanged month over month at .20%.
An attempt to debunk some of the common myths associated with VA loans. This great benefit of military service is often misunderstood and underutilized – we’re hoping this will help change things.
A foreclosure can be a great investment if you know how to buy one. Read our 6 simple tips before you get started.
The market is slightly down this morning. Some of the key economic releases this week include today’s new home sales report which is expected increase. On Tuesday, another housing report will be released and the Treasury will begin their weekly auctions. They will be auctioning a total of $104 billion of securities this week. Also, there are a lot more earnings releases slated for the week including the GDP report.
Don’t fret if you missed out on the tax credit – as a homeowner you still have tax incentives to look forward to. Learn about the tax benefits of homeownership from today’s special Guest Contributor.
Yesterday, mortgage bonds fell as better than expected corporate profits quelled fears of further Fed intervention. Today, treasuries and mortgages are lower on positive new overseas. The UK’s GDP grew nearly twice as much as expected and German business confidence rose to a three-year high.