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Monday Market Commentary

Weekly Mortgage Market Commentary: Monday, November 21st 2011

by Alex Stenback 11.21.2011

Last Week: Mortgages chugged sideways last week.  From Monday through Friday there was actually some modest improvement in raw pricing of mortgage bonds, but not enough to impact consumer facing rates, which remained virtually unchanged all week. Why the drama free week?  Moderately OK economic data points in the US (weekly jobless claims average slipped [...]

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Weekly Mortgage Market Update: September 6th 2011

by Alex Stenback 09.06.2011

Last Week: Mortgage rates improved modestly last week, with the benchmark 30 year fixed seeing about .125% improvement by week’s end. The reason?  A drumbeat of very lukewarm economic data, capped off with a truly dismal Employment Report from the Bureau of Labor and Statistics (BLS) which showed our economy netted ZERO new jobs in [...]

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Weekly Mortgage Market Update: August 29th, 2011

by Alex Stenback 08.29.2011

Last Week: Mortgage rates drifted higher last week, with 30 year fixed rates adding about .125% for the week, and a full .25% increase since the near-term (and all time) low set on August 10th. The most significant news last week was Ben Bernanke’s vaguely optimistic statements from Jackson Hole, Wyoming.  Here the Kansas City [...]

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Weekly Mortgage Market Update: Monday August 15th 2011

by Alex Stenback 08.15.2011

Last Week: In one of the more volatile weeks in memory, mortgages managed to make strong gains.  Benchmark 30 year fixed rates even made a run at the sub 4% mark mid-week, but drifted back to 4% or slightly above by the end of the week as stocks managed to close out the week by [...]

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Monday Market Commentary: This Week in Mortgage Rates

by Alex Stenback 08.01.2011

Last Week: Many feared uncertainty over the debt ceiling dysfunction would drive mortgage rates higher. What actually happened was mortgages got cheaper by almost .25% as jittery investors sought safe haven in bond markets until the debt ceiling issue was resolved. Also helping rates: An armload of less than stellar economic data, including especially a weak [...]

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Pending Sales on the Hop: Rising Sales Hinting at Recovery?

by Alex Stenback 06.29.2011

Pending sales, which measure contracts not closings (there’s always a little fallout due to inspections, appraisals, denied loans, cold feet, whatever) have been making some headlines of late. Nationally, via CBS Marketwatch: “Pending home sales rose 8.2% in May, partly bouncing back from a dismal April, the National Association of Realtors said Wednesday. The 13.4% [...]

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Monday Market Commentary: Soft Economy, Trouble in Europe Anchors Low Mortgage Rates

by Alex Stenback 06.27.2011

Last Week: Mortgage rates improved modestly last week as the negative news flow continued to etch a picture of a slowing and struggling economic recovery. The Fed has again walked back it’s prediction for 2011 GDP, which started the year at 3.9% and now is at 2.9%. Hitting that number will require things pick up [...]

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Monday Market Commentary: Mortgage Rates Officially in a Downtrend?

by Alex Stenback 06.06.2011

Last Week: 30 year fixed mortgage rates continued their volatile path downward as an onslaught of economic data showed USA Inc. is not posting the robust, self-sustaining, job creating numbers that were widely expected to materialize by now. Six-months of promised but not delivered economic recovery is a recipe that almost always produces lower rates. [...]

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Monday Market Commentary: On the Menu This Week in Mortgage Rates

by Alex Stenback 02.28.2011

Last Week: Mortgage bond prices marched higher all week as continued unrest in the Middle East and little evidence of inflation or a strong economic recovery sent investors to seek haven in the less risky/volatile bond markets.  As a result, mortgage rates improved about .125 – .25% and are now solidly back in the fours [...]

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