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Mortgage Outlook for the Week of March 19, 2012

Last week saw the beginning of an upward trend for mortgage rates that may very likely continue this week. The upward change is due in part to the positive US economic and housing data that has been coming out in the past few months and the Greek debt resolution that has come to fruition. Despite […]

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FOMC Meeting Update

The FOMC (Federal Open Market Committee) or FED concluded its one day meeting on Tuesday where it chose to leave the overnight funds rate (the rate at which banks lend money to each other) at a range of 0.00% to 0.25%, for the fourth straight month. Key Takeaways From the Fed About Current Conditions Labor […]

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Mortgage Outlook for the Week of March 12, 2012

Last week saw mortgage rates waiver, with most movement being sideways, which was a bit of a surprise. Many market watchers expected positive positive employment data and a resolution to the Greek Debt debacle to cause mortgage rates to rise significantly, which did not occur. Last week saw the Labor Department release the monthly Employment […]

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Weekly Mortgage Wrap Up for March 9, 2012

The big news that the market has been waiting for all week was the final outcome of last nights Greek debt settlement talks and the employment numbers that were released earlier today. Greek Debt Resolution Agreed Upon Last night, the Greek debt deal was completed with somewhere around 85% of investors agreeing to a swap. […]

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FHA Raising MIP (Mortgage Insurance Premiums)

For the second time in the last two years, the Federal Housing Administration (FHA), a U.S. financing agency, has announced that it will raise the premiums that it charges borrowers in April. Beginning on April 1, 2012, the FHA will raise by 0.75 percentage points to 1.75%, the upfront insurance premiums that borrowers must pay […]

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Mortgage Outlook for the Week of March 5, 2012

Last week saw more economic data showing modest economic growth in the US. Positive economic data last week consisted of GDP numbers showing a 3% annual rate in the fourth quarter of 2011, a rise in consumer confidence and initial jobless claims falling. Further confirmation of a possible recovery in progress came from Fed Chairman Ben Bernanke, […]

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Weekly Mortgage Wrap Up for March 2, 2012

The markets continued to monitor the Greece Debt situation this week. Although Greece is working through a solution to prevent default, there is still concern about whether the existing solution will actually work. Should there be news of any issues with the Greek resolution, look for increased downward pressure on mortgage rates. Beige Book data […]

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Mortgage Outlook for the Week of February 27, 2012

Last week saw continued improvement in the US Economy with more positive news coming out related to housing, employment and consumer confidence. Positive data, in addition to what is hoped to be a final solution for the Greek debt debacle, places pressure on mortgage rates to go up. Should we see negative news come out […]

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Weekly Mortgage Wrap Up for February 24, 2012

For the third time in three months, existing-home sales (homes that have been previously occupied, not new) rose in January, while inventories continued to improve, according to the National Association of Realtors. Additionally, new home sales for January fell by 0.9% from December to 321,000 sales, which is better than the market expected, yet even more […]

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15 Year Fixed Mortgage Rate History in Charts

With all the recent talk about mortgage rates “hitting new all time historical lows” and rates remaining near “all time historical lows”, it can be difficult to appreciate exactly how low mortgage rates have come. This is especially true in the historical context of mortgage rates, which spans many years. For this reason, sometimes charts […]

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