Overwhelmingly, home values fell in the 20 markets tracked by the Case-Shiller. Only San Diego showed a modest increase. The other 19 markets averaged a 1.23 percent decline between January and February. However, that's not the story you read in the most papers.
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McLean, VA – Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly from last week when it averaged 5.07 percent. Last year at this time,...
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Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent. Mortgage rates are rising this afternoon.
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The Federal Reserve adjourns from a scheduled, 2-day meeting today. It's one of 8 scheduled Fed meetings for 2010. Upon adjournment, Fed Chairman Ben Bernanke & Co. will release a formal statement to the market. In it, the Fed is expected to announce "no change" in the Fed Funds Rate. Mortgage...
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The sales of newly-built homes soared in March. Even more than what was expected. But the news may not be as glowing as what the media is telling us.
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Mortgage rates rose last week. This week, economic data will be at the forefront, as will the Federal Reserve which meets for one of its 8 scheduled meetings of the year.
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Existing Home Sales rose in March, as expected. U.S. homebuyers closed on 7 percent more homes as compared to February.
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Volcanic eruptions and like natural disasters remind us: mortgage rates change for all sorts of reasons. Some we can predict, most we cannot. There's literally thousands of influences on the U.S. mortgage market. If you've been shopping for a home or floating a mortgage rate, luck's been on your side.
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Tuesday’s bond market has opened down slightly with no relevant economic news on tap today and the stock markets in positive ground. The major stock indexes are showing gains with the Dow up 25 points and the Nasdaq up 12 points. The bond market is currently down 3/32, which will likely mean an increase...
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The bond market has slipped well into negative ground after the stock markets have moved well off earlier lows. The Dow is currently up 65 points after being down slightly earlier. The Nasdaq is still in negative ground but is close to the high of the day. The bond market is currently down 9/32,...
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