Archive for February, 2010

Publishing on a 2-month lag, the Federal Home Finance Agency said home prices fell by 1.6 percent nationally in December. And that's an average, of course. Some regions performed well in December as compared to November, others didn't.
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New Home Sales fell 11 percent from the month prior and posted the fewest units sold in a month since 1963 -- the year the government first started tracking New Home Sales data. It may be good for home buyers.
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Using data compiled in December, Standard & Poors released its Case-Shiller Index Tuesday. The report shows home prices down just 2.5% on an annual basis, a figure much lower than the 8.7% annual drop reported after Q3.
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Although the newspapers reported mortgage rates down last week, they weren't. Conforming mortgage rates were higher by at least 1/8 percent, or roughly $11 per $100,000 borrowed per month. In some cases, rates were up by even more.
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Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve. Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row.
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      Fed Comments Push Mortgage Rates HigherWhile investors began the week watching for fresh information about Greece and China, the Fed stole the spotlight on Wednesday with news that was unfavorable for mortgage markets, and mortgage rates ended the week moderately higher. The Fed currently has significant influence on mortgage rates. Over the last year, the...
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Sometimes, headlines for housing can be misleading and this week gave us a terrific example. On Wednesday, the Commerce Department released its Housing Starts data for January 2010. The data showed starts at a 6-month high. The real story is something different.
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Thursday’s bond market has opened in negative territory again following stronger than expected inflation news. The stock markets are showing gains with the Dow up 18 points and the Nasdaq up 6 points. The bond market is currently down 9/32, which will likely push this morning’s mortgage rates higher by approximately .375 of a...
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The Fed Minutes is a follow-up document, delivered 3 weeks after an official FOMC meeting. It's a companion piece to the post-meeting press release, detailing the debates and discussions that shaped our central bankers' policy decisions. The Minutes is a terrific look into the Fed's collective mind and, yesterday, Wall Street didn't like what...
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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.
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