Mortgage markets worsened for a second consecutive week last week amid debt default concerns and stronger-than-expected economic data. Dollars left the bond market and mortgage rates suffered. After re-reaching an all-time low December 1, mortgage rates have since rolled back to mid-November levels. Rates...

Home affordability improved this week after the Federal Reserve released its November 3-4, 2009 meeting minutes. The FOMC Minutes is a companion to the Federal Reserve’s post-meeting press release. It’s released 3 weeks after the Fed adjourns and details the internal debates that shape...

Mortgage markets worsened last week on a mixed bag of economic data.  Inflation data came in soft, but so did the start of the holiday shopping season. For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little bit...

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. In its press release, the FOMC noted that the U.S. economy “has continued to pick up” since the September FOMC meeting and that housing market activity has increased. It’s...

Mortgage markets improved last week after a series of hugely volatile trading sessions. Rates carved out a wide range on the week, culminating in a late-Friday plunge that dropped rates by about 1/8 percent. It was the first time in 5 weeks that mortgage rates fell. Volatility like that of last week...

The national housing supply fell to a 2-year low last month, according to the National Association of Realtors®. At the current sales pace, existing home inventories would sell out in 7.8 months — 30 percent faster versus November 2008. For a 10-month window, that’s a major housing supply...

Mortgage markets were volatile last week, making it very difficult to shop for mortgage rates. On most days, lenders issued multiple rate sheets with the trend putting rates higher in the morning, and lower in the afternoon. Overall, mortgage rates were unchanged on the week. It broke a three-week streak...

With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week. It’s bad news for home buyers and mortgage rate shoppers. The same force that’s driving oil higher is linked to rising mortgage rates. We’re talking about the weakening U.S. Dollar...

On the 1-year anniversary of the Lehman Brothers collapse, Fed Chairman Ben Bernanke said Tuesday that the “recession is very likely over at this point”. His comments were supported by a Retail Sales report for August that was much better-than-expected. Equities improved on the day, mortgage...

Mortgage markets improved last week, briefly touching their best levels in 3 months. However, a rough Friday afternoon took away some of those gains. Mortgage rates touched their lowest levels of the week Friday morning before tacking on an eighth-percent or more over the last 90 minutes of trading. It’s...