In a week of up-and-down trading, mortgage markets improved for the second consecutive week last week. Weaker-than-expected jobs data plus evidence of a slumping Eurozone took mortgage bonds lower, capped by a furious Friday morning rally that dropped mortgage rates to near-record levels.
Once again, volatility ruled the bond pits. Continue reading
Mortgage markets improved last week on renewed concerns of a European debt default, and Federal Reserve rhetoric.
Conforming mortgage rates in California dropped on the news, one week after posting a 5-month high.
A major strike in Spain and growing unrest in Italy, both in opposition to recent austerity measures, have re-ignited fears that the Eurozone may lapse into recession. Continue reading
Mortgage markets worsened last week as the U.S. economy continued to show that it’s in recovery, and as Federal Reserve Chairman Ben Bernanke publicly hinted at the same.
In a congressional testimony Wednesday, Chairman Bernanke suggested that new, Fed-led stimulus may not be imminent, surprising Wall Street analysts and market traders who, for months, have expected a third round of quantitative easing from the Fed. Continue reading
The Federal Reserve has released the minutes from its 2-day meeting January 24-25, 2012.
The Fed Minutes is a summary of the conversations and debates that shape our nation’s monetary policy. It receives less attention than the Fed’s more well-known, post-meeting press release, but the Fed Minutes is every bit as important.
To rate shoppers in Sacramento , for example, the Fed Minutes can give clues about whether mortgage rates will generally rise or fall in the coming months. Continue reading
I can’t believe I am posting this – once again rates dropped last week, setting near all-time lows set earlier this year.
Mortgage markets improved last week as news from the Federal Reserve, the U.S. economy, and Europe combined to spur new demand for mortgage-backed bonds. Continue reading