Archive for the ‘Mortgage Rate Update (by date)’ Category
Mortgage Services Alert! Mortgage Rates Drop On Poor Jobs Number. September 2, 2011
September 2nd, 2011 | 
Author: Labor day is upon us. Take this upcoming weekend to relax. I know I will.
Guess what? We’re seeing mortgage rates drop this morning on July’s jobs report.
Nonfarm payroll employment was unchanged in August, and the unemployment rate held at 9.1 %, according to the U.S. Bureau of Labor Statistics.
This is below the market expectations for a 60,000 increase, still suggesting the economy is in the crapper.
Momentum in the private job market has clearly stalled even though it has been widely reported that U.S. corporations have trillions of dollars in capital sitting on the sidelines they are not willing to invest.
The markets will now look ahead to President Obama’s upcoming jobs speech for some guidance.
If you were on the fence re: refiancing your mortgage, now is the time. Mortgage rates have ticked back down again.
Do a personalized rate search on the blue Amerisave Mortgage box on the right side of the screen. Look for the mortgage rates with lender credits. This will minimize or eliminate all costs so you can lower your mortgage rate or shorten your mortgage term for free!
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Posted in Mortgage, Mortgage Rate, Mortgage Rate Update (by date), Mortgage Rates | 
Tags: Consolidation, FHA mortgage, interest rate, loan, mortgage, Mortgages, Rates, refinance, refinancing, yale roth | 
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Mortgage Services ALERT! Mortgage Rates Drop. September 1, 2011
Mortgage bond prices opened higher this morning and mortgage rates have dropped as a result!
Initial Jobless Claims dropped 12,000 to 409,000 from last week’s revised figure of 421,000, according to the U.S. Dept. of Labor. This is more or less in line with market expectations of 407,000.
The four-week moving average increased to 410,250, an increase of 1,750 from last week’s revised moving average. July’s month end four-week average was 408,250. The Labor Department cited no special factors in this week’s report.
Nonfarm business sector labor productivity decreased at a 0.7 percent annual rate during the second quarter of 2011, the U.S. Bureau of Labor Statistics reported today, with output and hours worked rising 1.3 percent and 2.0 percent.
The report points to rising labor costs and decreased productivity, signs that may keep some businesses reluctant to hire.
Tomorrow brings the nonfarm payroll report. This can have a big impact on mortgage rates. If the jobs number comes in higher than expected, we may see mortgage rates rise. Conversely, if the jobs number comes in lower than expected, we could see mortgage rates drop more.
If you’re surrently floating your rate and are gaming the market to get a lower mortgage rate, you may want to consider locking the rate as there is the potential to lose what you already have.
To see current mortgage rates, do a personalized mortgage rate search on the blue Amerisave Mortgage box on the right side of this page. It’ll show you current mortgage rates, payments, and closing costs.
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Mortgage Services ALERT. Mortgage Rates Unchanged. August 31, 2011
Amazing, August 31 already! The summer is over, kids are back to school and football season is upon us.
The last day of August shows little movement in the mortgage bond market as mortgage bonds opened flat this morning.
Mortgage rates are unchanged from yesterday’s pricing.
This morning’s Mortgage Backed Securities Weekly Mortgage Application Survey shows seasonally adjusted mortgage applications decreased 9.6 % last week. This is an interesting statistic as mortgage rates are very, very low.
The unadjusted Refinance Index was down 12.2 %, while the unadjusted Purchase Index decreased 1.3 %.
My only take on this is that people may be vacationing and not thinking about refinancing thier mortgage.
The seasonally adjusted refinance and purchase indexes were -12.2 % and -0.9 %.
The average contract interest rate for 30-year fixed-rate mortgages decreased to 4.32 % from 4.39 %, with points increasing to 1.3 from 0.88 (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans, according to the data.
“Accounting for the increase in average points paid, effective mortgage rates were little changed last week.
Refinance application volume declined for a second week from recent highs, despite rates staying near a 10-month low, while purchase volume remained near 15-year lows,” said Mike Fratantoni, MBA’s Vice President of Research and Economics.
The fact that purchase applications remain down suggests to me that people are still insecure about their employment as now is a good time to buy a new home. Mortgage rates are low and home values are down to 2003 levels.
The ADP employment report released this morning shows nonfarm private payrolls increased 91,000 from July to August on a seasonally adjusted basis.
The change from June to July was revised down to 109,000 from 114,000. According to the report, “the trend in employment moderated somewhat in August at a pace below what would be consistent with a stable employment rate.” No surprise there.
The Challenger job-cut report released this morning showed layoff announcements slowed in August to 51,114 from July’s 66,414. This follows three consecutive months where layoff announcements had increased.
This could portend a strong showing for Friday morning’s job’s report. This can be a volitile day for mortgage rates. If you float into Friday, be ready!
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Posted in Mortgage, Mortgage Rate, Mortgage Rate Update (by date), Mortgage Rates, Refinance |
Tags: FHA mortgage, Home, jobs report, loan, mortgage, Mortgages, non farm payroll report, Rates, refinance, refinancing, yale roth |
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Mortgage Services ALERT. Mortgage Rates Drop! August 30, 2011
Choppy, choppy. That’s how I would describe mortgage rate movement over the last week or so.
Mortgage pricing is better one day, then worse the next, suggesting some volitility in the mortgage market.
Mortgage backed securities opened higher this morning pushing mortgage rates down a tad.
The S&P/Case-Shiller Home Price Index showed home prices rose 3.6 percent in the second quarter of 2011, following a decline of 4.1 percent in the first quarter. Good news, indeed.
On a national level, home prices are at levels last seen in early 2003. Amazing.
Compared to the second quarter of 2010, home prices have fallen 5.9 percent.
Looking across the 20-city composite on a seasonally adjusted basis, 5 cities hit their price lows in 2009 and have not fallen back. They are Los Angeles, San Diego, San Francisco, Denver, and Washington D.C. Two (Boston and Dallas) hit lows in 2009, but are still near those lows. Phoenix, Miami, Tampa, Chicago, Detroit, Minneapolis, Charlotte, Las Vegas, New York, Cleveland, Portland, and Seattle all hit new lows in 2011. Atlanta hit its most recent low in December, 2010. Las Vegas, Detroit and Cleveland remain the weakest cities in the report.
In other news, consumer confidence remains weak though it increased to 59.5 in July from a revised 57.6 in June.
During good economic times, this reading would be near 80.
Ladies and gentlemen, we are still in an economic recession from a consumer standpoint. People aren’t feeling terribly warm and secure about their economic well being.
On a positive note, mortgage rates are very low.
So, if you’re in a position to refinance or buy (yes, buy a new home as there are bargins out there,) do a personalized mortgage rate search on the blue Amerisave Mortgage box on the right side of the page.
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Posted in Mortgage, Mortgage Rate Update (by date), Mortgage Rates, Refinance |
Tags: Consolidation, FHA, FHA mortgage, Loans, mortgage, mortgage rates, Mortgages, Rate, Rates, refinance, yale roth |
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Mortgage Services ALERT! Mortgage Rates Rise. August 29, 2011
I don’t know about you, but it was hard to wake up this morning.
Not the Monday morning blues per se, it’s just getting my kids ready for school and racing around to make sure we’re not late for the bus, cooking breakfast, etc. etc.
I have to wait for next Sunday to relax a bit. Oh well…
The mortgage rate roller coaster ride continues as mortgage bonds opened lower this morning pushing mortgage rates downward a bit.
The Bureau of Economic Analysis released personal income statistics for July 2011 this morning. The report met market expectations for a 0.3 percent increase in income and beat market expectations for spending with a 0.8 percent increase.
On the inflation side, which directs mortgage rates, the price index component of the report showed a 0.4 percent increase, following a 0.1 percent increase in June.
The report shows that the consumer is not on the sidelines though job growth would certainly help increase these numbers.
This week is full of economic data with the Case/Shiller Home Price Index (which measures home sales/appreciation/depreciation), ADP Employment (which is a big Fed inflation measurer), productivity and manufacturing data, as well as the official Employment report for July adding to the normal weekly data.
The employment data will be out on Friday, so you may want to consider locking your rate before this economic indicator is released. Just depends on what you tolerance for risk!
I’m going to be updating my soon and am really excited about it. It’ll give you the opportunity to ask me any mortgage related questions, allow you to get a second opinion, check to see if you’re getting ripped off, or just get valuable and honest information.
I’ll keep you posted. In the meantime, if you haven’t looked into saving money on your mortgage or home loan, do a personalized search on the blue Amerisave box on the right side of the page. It’ll show you current mortgage rates, mortgage payments, and the fees (or no fees).
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Posted in Mortgage Rate, Mortgage Rate Update (by date), Mortgage Rates, Refinance |
Tags: FHA mortgage, fha mortgages, Home, loan, mortgage, Rates, refinance, yale roth |
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Mortgage Services ALERT. Mortgage Rates Drop. August 26, 2011
I don’t know about you, but TGIF!
Mortgage backed securities opened higher this morning pressuring mortgage rates down.
The Bureau of Economic Analysis released its second estimate of U.S. GDP for the 2nd quarter of 2011 this morning with some not so surprising news.
The report revised Q2 GDP from 1.3 percent growth to 1.0 percent growth. A sluggish economy indeed.
This was more or less in line with market expectations of a revision to 1.1 percent growth.
There is little market change on the news as it appears most participants are awaiting Fed Chairman Ben “Helicopter” Bernanke’s speech at 10a.m. EST.
Mortgage rates are very low, including rates on the FHA mortgages.
Do a personalized rate search on the blue Amerisave window to see the mortgage rates for the conventional and FHA mortgages.
It’s free, takes no more than 10 seconds to see the rate results and will also show you mortgage payment and closing costs.
That all the information you need to see whether you’ll be able to save money.
more to come…
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Tags: fha mortgages, Home, loan, mortgage, mortgage rates, Mortgages, Rate, Rates, refinance, yale roth |
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Mortgage Services ALERT. Mortgage Rates Holding Steady. August 25, 2011
Mortgage bonds opened flat this morning. As a result mortgage rates are unchanged from yesterday.
Initial Jobless Claims increased 5,000 to 417,000 from last week’s revised figure of 412,000, according to the U.S. Dept. of Labor.
This is higher than the market consensus of 405,000. The four-week moving average was 407,500, an increase of 4,000 from last week’s moving average.
According to the report, there were 8,500 claims last week and 12,500 from two weeks ago related to the Verizon strike which has
now ended.
There are still a lot of people unemployed out there.
Overall there has been little bond market reaction to the report.
Despite the unemployment numbers, mortgage rates, are very low right now.
If you are employed and want to save money and haven’t recently refinanced your existing mortgage, now is the time.
Once we see some inflation come back, mortgage rates and interest rates in general are going to rise.
Just what we need, inflation. It seems that there is already inflation out there as the cost to live continues to go up. No? Sure feels that way to me.
See if you can save money by refinancing your current mortgage.
Do a personalized rate search on the blue Amerisave box on the right side of the page. It’s free and it’ll show you the current mortgage rates, proposed mortgage payments and costs (or no costs) to refinance.
No personal information is needed and it probably takes less than 30 seconds to get the mortgage rate information you’re looking for. It’s a great tool. Take advantage of it!
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NEW! Mortgage Rates – Where Are They Today? August 24, 2011
What a ride!
For those of you following my mortgage rate commentary, you see the choppiness in the mortgage market,as mortgage rates slip and slide, gain some, then lose some.
Despite the choppiness, mortgage rates remain very low right now even though the mortgage bond market opened slightly down this morning.
(Remember, there is an inverse relationship between mortgage bond price and mortgage bond yield. So when the mortgage bond price goes down, the yield goes up, and the mortgage rates increase.)
We’re getting a mixed bag re: economic data.
The Advance Report on Durable Goods Manufacturers’ Shipment, Inventories and Orders for July 2011 release by the U.S. Census Bureau and U.S. Dept. of Commerce showed new orders for manufactured goods increase 4.0 percent – good news indeed.
This is better than market expectations for a 2.0% increase.
If you remember the recent August data released from the Federal reserve manufacturing surveys (New York, Philly, and Richmond), August has shown modest slowdown.
Nonetheless, mortgage rates remain low today. If you haven’t refinanced your existing mortgage, you ought to do a personalized rate search to see the rates, payments and costs. This will give you the information you need to determine benefit.
Use the blue Amerisave Mortgage box on the right side of the screen. Again, I can’t stress, this is a very powerful tool and gives you accurate and current mortgage rate information
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Posted in Home Loan, Interest Rates, Mortgage, Mortgage Rate Update (by date), Mortgage Rates, Refinance |
Tags: Consolidation, fha mortgages, loan, Loans, mortgage, mortgage rates, Rate, Rates, refinance |
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Are Mortgage Rates Moving Up Or Down? August 23, 2011
Mortgage rates are unachanged this morning.
New home sales of single family houses in July 2011 were at a seasonally adjusted annual rate of 298,000, according to the U.S. Census Bureau and HUD.
This is a 0.7% drop from June’s rate; however is 6.8% above July 2010.
The national average sales price was $272,300. The annual rate was below market expectations of 313,000 homes.
In other news the Richmond Federal Seserve Bank survey of manufacturing activity showed a drop in August from July.
Generally speaking, the economic conditions in the U.S. remain fragile.
While economic conditions are weak, mortgage rates are remarkably low.
Consider refinancing your mortgage into a shorter term mortgage like a 15 or 10 yr fixed mortgage. The benefits are that you’ll save thousands of dollars in interest and reduce the term of your home loan.
In addition, you’ll be able to retire without the obligation of having to make a mortgage payment.
To see the current rates, do a personalized rate search on the blue Amerisave Mortgage box on the right side of this page.
You’ll see the mortgage rates for you, the mortgage payments and fees.
By the way, many of the mortgage rates come with lender credits, so there would be no closing costs!
Also, to see when your mortgage would pay off, go to my no debt mortgage calculator at http://www.tinyurl.com/NoDebtCalculator
There you see how much equity you’ll build and when your mortgage will pay off. This is a great tool!
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Posted in Interest Rates, Mortgage Rate, Mortgage Rate Update (by date), Mortgage Rates, Refinance |
Tags: 2011, fixed, fixed mortgage, mortgage |
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What’s Doing With Mortgage Rates? August 17, 2011
Mortgage backed securities opened higher this morning. As a result, mortgage rates have dropped some. Yea!
Treasuries are steady and equities are rising Wednesday morning as investors shift focus from European debt problems to macroeconomic data and corporate earnings.
The relative calm follows a weak market Tuesday triggered by a lack of resolution from German Chancellor Angela Merkel and French President Nicholas Sarkozy.
“European markets continue to fret about the global economic slowdown,” noted economists at BMO Capital Markets. “Expectations were high for an announcement on a Euro bond but the leaders dismissed the concept….for now.”
Treasuries are steady in the short-end and softer in the longer-end. The two-year yield flat at 0.19%, the 10-year yield is one basis point up at 2.23% and the 30-year yield is a single basis point higher at 3.68%.
The Fannie Mae 4.0 Mortgage Backed Security MBS coupon is -2/32 at 104-09.
Equities have rebounded modestly from Tuesday’s losses. S&P 500 futures are 4.4 points higher at 1,196.70 and Dow futures are 25 points higher at 11,412.
Meantime, light crude oil rose 1.41% overnight to $87.87 per barrel, while gold prices rose 0.47% to $1,793.40.
The Mortgage Bankers Association mortgage applications index rose 4.1% in the week ending August 12, led by mortgage refinances and offset by purchase transactions.
Again, if you haven’t considered refinancing your existing mortgage, you should.
Mortgage rates are ridiculously low.
Do a Personalized Rate Search on the Blue Amerisave Mortgage widget on the right side of the screen.
It’s free, takes less than a minute and will show you the mortgage rates, mortgage payments and costs or credits for all the mortgage programs. It’s a terrific tool!
P.S. If you can afford the payment on the 10 yr fixed mortgage, take a look!
P.P.S. Key Economic Indicators Due Out Today:
- Producer Price Index 8:30 AM – Measures inflation in the economy
- Dallas Fed President Richard “Loose Lips” Fisher speaks 1:30 PM – Watch out. What Mr. Fisher says can move the markets!
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Posted in Interest Rates, Mortgage Rate Update (by date), Mortgage Rates |
Tags: 2011, mortgage, mortgage rates, problems |
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