This morning’s jobs report is causing mortgage rates to rise, capping a week during which rates have already jumped 3/8 percent off all-time lows. The government’s November Non-Farm Payrolls report reinforced the notion that the recession is nearly over, if not over already. Just 11,000...

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...

For August, the Case-Shiller Index showed annual home values improving across 19 of 20 U.S. markets. It’s the first time in 3-plus years that the benchmark housing index has shown such strength. According to a Case-Shiller Index spokesperson, “The rate of annual decline in home price values...

The Federal Open Market Committee starts a 2-day meeting today in Washington. The scheduled get-together ends at 2:15 PM ET Wednesday after which the FOMC will issue a press release to the markets. Consider locking your mortgage in advance of the press release. The FOMC meets 8 times annually and its...

According to home builders around the country, the housing market is looking good. Each month, the National Association of Home Builders releases its Housing Market Index report, a survey meant to “take the pulse of the single-family housing market”. Respondents report on three facets of...

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...

The Federal Open Market Committee voted to leave the Fed Funds Rate within its target range of 0.000-0.250 percent. It also reiterated plans to support the mortgage market to the tune of $1.5 trillion. In its press release, the FOMC noted that the U.S. economy is ”leveling off” and that...

To say that the mortgage markets took a beating last week would be an understatement. After better-than-expected consumer spending, housing and employment data, stock markets rallied and mortgage markets suffered. Mortgage rates unwound completely their gains of the last six weeks and now rest near...

This morning’s jobs report is doing a number on mortgage rates, putting another dent in home affordability nationwide. Despite the slightly flat Unemployment Rate, the government’s July Non-Farm Payrolls report reinforced the notion that the recession may be ending soon, if it hasn’t...

For May, the Case-Shiller Index showed home values up in 15 of its 20 tracked U.S. markets.  It’s the first time in nearly 3 years that the index showed such strength and a signal that home prices may be turning higher for good. According to a Case-Shiller Index spokesperson, “this could...