Last week brought news from the Fed as two Federal Reserve Bank Presidents made speeches and the Federal Open Market Committee (FOMC) of the Fed released the minutes of its last meeting. The minutes reveal the Fed’s intention to wrap up its bond-buying program in October with a final purchase of $15 billion in mortgage-backed securities (MBS) and Treasury bonds
Mortgage Rates: May 13, 2013 Update
Mortgage rates rose last week with average rates a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.
Mortgage Rates: April 22, 2013 Update
Mortgage rates fell for the third consecutive week. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage fell by two basis points to 3.41 percent as compared to last week’s 3.43 percent and 3.90 percent year-over-year.
What’s Ahead For Mortgage Rates This Week: March 18th, 2013
Last week’s positive employment reports were good news for the economy, which typically causes mortgage rates to rise, but mortgage rates ended the week lower.
What’s Ahead For Mortgage Rates This Week: March 11th, 2013
Mortgage rates and stock markets rose last week in response to a strong jobs report and lower national unemployment rate. The Dow Jones Index reached record levels last week.
What’s Ahead For Mortgage Rates This Week: March 4th, 2013
Mortgage rates were lower last week as investors sought safety in bonds in the wake of US legislators’ failure to agree on budget cutbacks, and after Italyâs elections failed to reveal a leader committed to continuing economic reform.
What’s Ahead For Mortgage Rates This Week: February 11th, 2013
Mortgage rates worsened for the week ending February 8, 2013 in response to strong economic data in the US and abroad.
Improving Market Index : Up To 201 Cities For December 2012
The Improving Market Index added 76 metropolitan areas in December as compared to the month prior.
The Federal Reserve Begins A 2-Day Meeting Today
The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year.
October Jobs Report Blows Away Estimates; Mortgage Rates Falling
Mortgage rates are performing surprisingly well after Friday’s release of the October 2012 Non-Farm Payrolls report.