Dan the Mortgage Planner

Removes the curtain of secrecy on the mortgage world.

What Mortgage Rates Are Doing This Week of May 29, 2012

Posted on May 29, 2012 by Dan Tharp

Mortgage markets worsened slightly last week as demand for mortgage-backed bonds slacked. There was little surprise in U.S. economic data and the unfolding story lines of the Eurozone continued unabated.

As of this Wednesday morning, Europe’s stock markets are getting hit hard on increasing lack of confidence in the region. Money continues to flow to safety, into US treasuries and German bunds. Also, China said today it won’t inject stimulus at the pace it did in 2008 and its economic growth is expected to decline 8%, also helping to drive our rates lower. Continue reading →

A Few Reasons Why You Might Not Get The Rate Advertised: May 21, 2012

Posted on May 21, 2012 by Dan Tharp

Existing Home Sales Mortgage rates improved last week on lingering concerns for the European Union, plus weaker-than-expected economic data here at home. Global investors were net buyers of mortgage-backed securities last week, pushing mortgage rates lower nationwide.

According to Freddie Mac’s mortgage rate survey, conforming 30-year fixed rate mortgage rates slipped to 3.79%, on average, last week for borrowers willing to pay 0.7 discount points and a full set of closing costs.

This is the lowest on-record. Continue reading →

What Mortgage Rates Are Doing This Week : April 23, 2012

Posted on April 23, 2012 by Dan Tharp

Mortgage markets were mostly unchanged last week, breaking a three-week winning streak. Wall Street grappled with surprising demand on Spain’s debt issuance and a series of weaker-than-expected data points on U.S. housing.

Conforming mortgage rates across California rose slightly according to the weekly Freddie Mac Primary Mortgage Market Survey. Continue reading →

What Mortgage Rates Are Doing This Week : March 12, 2012

Posted on March 12, 2012 by Dan Tharp

Mortgage markets were mostly unchanged last week despite a series of positive developments. In addition to Greece successfully reaching a deal with its private creditors, the U.S. economy turned out strong reports — most notably with respect to Non-Farm Payrolls.

In February, the U.S. economy added 227,000 new net jobs and the figures from December and January were revised higher by an additional 61,000. It marked the 16th straight month of job gains nationwide. Continue reading →

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