The first week of May is officially over, and Mortgage backed securities once again sold off at the end of the week giving up a total of 30bp this week (FNMA 30 YR 4% Chart). The selloff pushed Mortgage Rates higher for the first week of May. May 2009 Mortgage Rates.
This week we saw the economy shed...
Both mortgage guidelines and the economy have tightened since 2006, bringing more attention to “joint homeowners” — non-spousal partners that buy and share a home as roommates.
The practice is not new, but, anecdotally, co-purchasing is becoming more common.
In the video above —...
The Federal Reserve adjourned from its two-day meeting this afternoon. It’s one of 8 scheduled meetings each year for the Federal Open Market Committee.
Although the FED announced to keep the FED Funds target unchanged, MBS gave up ground with the 30 YR FNMA 4.0% pulling back 22bp. Mortgage Rates...
Mortgage rates ended the week of April 24, 2009 lower. The MBS FNMA 30 YR 4.0% finished up 21bp higher for the week (higher is better for the MBS, price and interest are inverse). The historically low rates for both conforming and FHA products are intended to help stimulate the economy by giving home...
Mortgage Rates regained their footing today as the 30 YR 4.0% FNMA MBS closed 9bp higher for the day. If last week was the precursor to this week, we will see rate improve and stabilize Monday – Wednesday and turn negative Thursday – Friday.
Mortgage rates ended last week exactly where they started. ...