Tagged with mortgage rates
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Economy Slow to Improve
Bonds and mortgage backed securities had a rocky week last week ending with a hammering on Friday believed to be caused by Bernanke’s comments that the economy continues to improve although it is happening very slowly. Bernanke also indicated that the Fed is ready to step in with more quantitative easing if necessary. Some experts [...]
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Trouble for the Housing Market
The treasury will be borrowing about $102 billion worth of 2 yr, 5 yr and 7 yr notes or roughly $2 billion less than it borrowed last month. July existing home sales are due out and are expected to be down roughly 13% while new homes sales are actually expected to have increased 3%. Existing [...]
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The 3 L’s
The first rule of real estate used to be the 3 L’s….Location, Location, and Location. In a declining market such as this we might think about dumping this old phrase and adopting a new first rule comprised of 3 new L’s. In my opinion these would be Listen, Learn, and Let Go.
Listen to the economic [...] -
Economy in Recovery???
At the Federal Open Market Committee Meeting last week, the Fed came about as close as it could to assessing the near future of the nation’s economy as declining by stating “The pace of recovery is likely to be more modest in the near term than had been anticipated.” During the meeting, the Fed indicated [...]
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Mortgage Rates Continue to Drop as Jobs Continue to Disapear
More bad news came for the economy last week. 131K jobs were lost in the month of July even as private jobs showed an increase of 71K. If that pace holds, it could take as long as seven years just to get back the 8.5 mil jobs that have already been lost. Weekly jobless claims [...]
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Mortgage Rates Continue to Hold As New Home Sales are on the Rise
Mortgage rates held relatively steady last week despite an increase of roughly 7 basis points on the 5 year and 10 year treasury notes. A majority of the rate market activity recently has been in treasuries with mortgage rates remaining surprisingly stable. The stock market remains confined to a wide trading range with many large [...]