Weekly News

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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Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise.
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Wondering About Mortgage Interest Rates
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Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week.
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      Mortgage Rates Improve, Stocks FallWhile the economic data released this week had little impact, mortgage rates were heavily influenced by two big stories. One was an announcement that China will take steps to slow its economic growth and the other was President Obama’s proposed new restrictions on the activities of financial institutions. Both measures...
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Mortgage markets showed little conviction last week, carving out just a narrow trading channel. There was very little data on which for markets to move, leaving mortgage rates momentum-bound. Luckily for rate shoppers, mortgage rate momentum was favorable.
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For the second straight week, the economic calendar is bare. Traders, once again, will be forced to rely on "gut" to make their trades.
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Mortgage markets were relatively flat last week during holiday-shortened trading. After starting the week with a Monday surge higher, mortgage rates settled down thorough Tuesday and remained somewhat flat into the early-close for New Year's Eve. However, as compared to the 4-month low posted post-Thanksgiving, conforming mortgage pricing has now worsened by more...
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