Personal Spending Up, Consumer Confidence Surges, But is Case-Schiller Home Price Index Relevant? – Daily Mortgage Rate Update for August 31st, 2010
August 31, 2010 by Dan Hartman · 2 Comments
Mortgage pricing has swung wildly over the past 3 days. Initially, it appeared that Friday’s activity was a reaction to Fed Chairman Bernanke’s comments at the Jackson Hole Conference, however, yesterday’s almost complete rebound on almost no news brought question to that. Mortgage pricing today is again at an all time high, and may struggle to move any higher, leading to record low rates. I suspect that last week’s Freddie Mac survey rate of 4.36% may be bested once again this Thursday.
GDP Results Miss Expectations; New Low for 30-year Fixed – Daily Mortgage Rate Update for July 30th, 2010
July 30, 2010 by Dan Hartman · 1 Comment
The 30-year fixed rate mortgage set a new record low this week, according to Freddie Mac. Rates averaged just 4.54%, beating out recent lows by a few hundredths of a percent. While refinancing makes sense for many homeowners at these rates, some are finding they are unable due to more difficult underwriting requirements, or lower home values.
Markets Close Mixed; Durable Goods Orders to Set Tone For Day – Daily Mortgage Rate Update for July 28th, 2010
July 27, 2010 by Dan Hartman · 1 Comment
Mortgage pricing remains at all-time-best levels, and, while it isn’t likely to fall sharply in the immediate future, it needs to be eyed closely. The axiom, what goes up, must come down, hasn’t come into play yet, but it could in the near future.
Consumer Confidence, Home Prices Loom after New Home Sales Lift Markets – Daily Mortgage Rate Update for July 27th, 2010
July 27, 2010 by Dan Hartman · 1 Comment
The thin gains in home prices, along with the overall lack of new jobs are putting substantial drag on consumer confidence numbers. According to the Conference Board, consumer confidence dipped for the second month in a row, as consumers cited the next 6 months being particularly worrisome to them.
