Daily Mortgage Market Snapshot Friday, August 8, 2008Friday, August 8, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, August 8, 2008:
Rates are up 0.005 from Thursday.
Today (8/8/08) - 6.461%
Yesterday (8/7/08) - 6.456%
One Week Ago (8/1/08) - 6.398%
One Month Ago (7/8/08) - 6.323%
One Year Ago (8/8/07) - 6.556%
Five Years Ago (8/8/03) - 6.181%
Ten Years Ago (8/8/98) - 7.124%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, August 6, 2008Wednesday, August 6, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, August 6, 2008:
Rates are up 0.01924
Today (8/6/08) - 6.440%
Yesterday (8/5/08) - 6.416%
One Week Ago (7/30/08) - 6.435%
One Month Ago (7/6/08) - 6.344%
One Year Ago (8/6/07) - 6.559%
Five Years Ago (8/6/03) - 6.375%
Ten Years Ago (8/6/98) - 7.154%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, August 5, 2008Tuesday, August 5, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, August 5, 2008:
Rates are up 0.019 from Monday.
Today (8/5/08) - 6.416%
Yesterday (8/4/08) - 6.397%
One Week Ago (7/29/08) - 6.414%
One Month Ago (7/5/08) - 6.370%
One Year Ago (8/5/07) - 6.562%
Five Years Ago (8/5/03) - 6.375%
Ten Years Ago (8/5/98) - 7.153%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, August 4, 2008Monday, August 4, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, August 4, 2008:
Rates are down 0.001 from Friday.
Today (8/4/08) - 6.397%
Yesterday (8/1/08) - 6.398%
One Week Ago (7/28/08) - 6.398%
One Month Ago (7/4/08) - 6.370%
One Year Ago (8/4/07) - 6.562%
Five Years Ago (8/4/03) - 6.459%
Ten Years Ago (8/4/98) - 7.149%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, July 31, 2008Friday, August 1, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, July 31, 2008:
Rates are down 0.024 from Wednesday.
Today (7/31/08) - 6.411%
Yesterday (7/30/08) - 6.435%
One Week Ago (7/24/08) - 6.349%
One Month Ago (6/31/08) - 6.344%
One Year Ago (7/31/07) - 6.607%
Five Years Ago (7/31/03) - 6.161%
Ten Years Ago (7/31/98) - 7.204%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, July 30, 2008Wednesday, July 30, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, July 30, 2008:
Rates are up 0.021 from Tuesday.
Today (7/30/08) - 6.435%
Yesterday (7/29/08) - 6.414%
One Week Ago (7/23/08) - 6.359%
One Month Ago (6/30/08) - 6.344%
One Year Ago (7/30/07) - 6.598%
Five Years Ago (7/30/03) - 6.114%
Ten Years Ago (7/30/98) - 7.211%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, July 29, 2008Tuesday, July 29, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, July 29, 2008:
Rates are up 0.016 from Monday.
Today (7/29/08) - 6.414%
Yesterday (7/28/08) - 6.398%
One Week Ago (7/22/08) - 6.362%
One Month Ago (6/29/08) - 6.344%
One Year Ago (7/29/07) - 6.598%
Five Years Ago (7/29/03) - 6.085%
Ten Years Ago (7/29/98) - 7.195%
Posted By Bruce A. MyersForeclosures on the RiseTuesday, July 29, 2008Foreclosure filings were reported on 739,714 U.S. properties during the second quarter 2008, a nearly 14 percent increase from the previous quarter and a 121 percent increase from the second quarter of 2007. One in every 171 U.S. households received a foreclosure filing during the quarter.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, July 28, 2008Monday, July 28, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, July 28, 2008:
Rates are down 0.003 from Friday.
Today (7/28/08) - 6.398%
Yesterday (7/25/08) - 6.401%
One Week Ago (7/21/08) - 6.362%
One Month Ago (6/28/08) - 6.344%
One Year Ago (7/28/07) - 6.598%
Five Years Ago (7/28/03) - 5.983%
Ten Years Ago (7/28/98) - 7.171%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, July 24, 2008Saturday, July 26, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, July 24, 2008:
Rates are down 0.010 from Wednesday.
Today (7/24/08) - 6.349%
Yesterday (7/23/08) - 6.359%
One Week Ago (7/17/08) - 6.099%
One Month Ago (6/24/08) - 6.315%
One Year Ago (7/24/07) - 6.630%
Five Years Ago (7/24/03) - 5.966%
Ten Years Ago (7/24/98) - 7.158%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, July 25, 2008Friday, July 25, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, July 25, 2008:
Rates are up 0.052 from Thursday.
Today (7/25/08) - 6.401%
Yesterday (7/24/08) - 6.349%
One Week Ago (7/18/08) - 6.331%
One Month Ago (6/25/08) - 6.325%
One Year Ago (7/25/07) - 6.635%
Five Years Ago (7/25/03) - 5.983%
Ten Years Ago (7/25/98) - 7.152%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, July 23, 2008Wednesday, July 23, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, July 23, 2008:
Rates are down 0.003 from Tuesday.
Today (7/23/08) - 6.359%
Yesterday (7/22/08) - 6.362%
One Week Ago (7/16/08) - 6.297%
One Month Ago (6/23/08) - 6.310%
One Year Ago (7/23/07) - 6.635%
Five Years Ago (7/23/03) - 5.923%
Ten Years Ago (7/23/98) - 7.148%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, July 22, 2008Tuesday, July 22, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, July 22, 2008:
Rates are unchanged from Monday.
Today (7/22/08) - 6.362%
Yesterday (7/21/08) - 6.362%
One Week Ago (7/15/08) - 6.281%
One Month Ago (6/22/08) - 6.310%
One Year Ago (7/22/07) - 6.630%
Five Years Ago (7/22/03) - 5.926%
Ten Years Ago (7/22/98) - 7.159%
Posted By Bruce A. MyersIssues With New Conforming Jumbo ProgramTuesday, July 22, 2008With ever increasing foreclosures and loan defaults the mortgage industry took drastic measures in an attempt to save their own financial well being. One of the immediate steps was to increase the interest rate charged on non-conforming Jumbo products. A Jumbo loan is a loan in excess of $417,000. Foreclosures on these Jumbo loans are very costly because of the dollar amounts involved and the amount of decrease in the value of more expensive homes in a very short time period.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, July 21, 2008Monday, July 21, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, July 21, 2008:
Rates are up 0.031 from Friday.
Today (7/21/08) - 6.362%
Yesterday (7/18/08) - 6.331%
One Week Ago (7/14/08) - 6.291%
One Month Ago (6/21/08) - 6.310%
One Year Ago (7/21/07) - 6.630%
Five Years Ago (7/21/03) - 5.864%
Ten Years Ago (7/21/98) - 7.156%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, July 18, 2008Friday, July 18, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, July 18, 2008:
Rates are up 0.0518 from Thursday.
Today (7/18/08) - 6.331%
Yesterday (7/17/08) - 6.349%
One Week Ago (7/11/08) - 6.265%
One Month Ago (6/18/08) - 6.289%
One Year Ago (7/18/07) - 6.618%
Five Years Ago (7/18/03) - 5.759%
Ten Years Ago (7/18/98) - 7.191%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, July 17, 2008Friday, July 18, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, July 17, 2008:
Rates are up 0.052 from Wednesday.
Today (7/17/08) - 6.349%
Yesterday (7/16/08) - 6.297%
One Week Ago (7/10/08) - 6.289%
One Month Ago (6/17/08) - 6.321%
One Year Ago (7/17/07) - 6.624%
Five Years Ago (7/17/03) - 5.710%
Ten Years Ago (7/17/98) - 7.191%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, July 16, 2008Wednesday, July 16, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, July 16, 2008:
Rates are up 0.016 from Tuesday.
Today (7/16/08) - 6.297%
Yesterday (7/15/08) - 6.281%
One Week Ago (7/9/08) - 6.323%
One Month Ago (6/16/08) - 6.336%
One Year Ago (7/16/07) - 6.624%
Five Years Ago (7/16/03) - 5.702%
Ten Years Ago (7/16/98) - 7.186%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, July 15, 2008Tuesday, July 15, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, July 15, 2008:
Rates are down 0.010 from Monday.
Today (7/15/08) - 6.281%
Yesterday (7/14/08) - 6.291%
One Week Ago (7/8/08) - 6.344%
One Month Ago (6/15/08) - 6.323%
One Year Ago (7/15/07) - 6.624%
Five Years Ago (7/15/03) - 5.614%
Ten Years Ago (7/15/98) - 7.179%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, July 14, 2008Monday, July 14, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, July 14, 2008:
Rates are up 0.026 from Friday.
Today (7/14/08) - 6.291%
Yesterday (7/11/08) - 6.265%
One Week Ago (7/4/08) - 6.370%
One Month Ago (6/11/08) - 6.289%
One Year Ago (7/11/07) - 6.590%
Five Years Ago (7/11/03) - 5.605%
Ten Years Ago (7/11/98) - 7.153%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, July 11, 2008Friday, July 11, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, July 11, 2008:
Rates are down 0.024 from Friday.
Today (7/11/08) - 6.265%
Yesterday (7/10/08) - 6.289%
One Week Ago (7/4/08) - 6.370%
One Month Ago (6/11/08) - 6.289%
One Year Ago (7/11/07) - 6.590%
Five Years Ago (7/11/03) - 5.605%
Ten Years Ago (7/11/98) - 7.153%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, July 10, 2008Thursday, July 10, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, July 10, 2008:
Rates are down 0.021 from Wednesday.
Today (7/10/08) - 6.289%
Yesterday (7/9/08) - 6.310%
One Week Ago (7/3/08) - 6.370%
One Month Ago (6/10/08) - 6.287%
One Year Ago (7/10/07) - 6.588%
Five Years Ago (7/10/03) - 5.599%
Ten Years Ago (7/10/98) - 7.153%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, July 9, 2008Wednesday, July 9, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, July 9, 2008:
Rates are down 0.013 from Tuesday.
Today (7/9/08) - 6.310%
Yesterday (7/8/08) - 6.323%
One Week Ago (7/2/08) - 6.323%
One Month Ago (6/9/08) - 6.274%
One Year Ago (7/9/07) - 6.599%
Five Years Ago (7/9/03) - 5.597%
Ten Years Ago (7/9/98) - 7.150%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, July 8, 2008Tuesday, July 8, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, July 8, 2008:
Rates are down 0.021 from Monday.
Today (7/8/08) - 6.323%
Yesterday (7/7/08) - 6.344%
One Week Ago (7/1/08) - 6.323%
One Month Ago (6/8/08) - 6.274%
One Year Ago (7/8/07) - 6.599%
Five Years Ago (7/8/03) - 5.614%
Ten Years Ago (7/8/98) - 7.135%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, July 7, 2008Monday, July 7, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, July 7, 2008:
Rates are down 0.026 from Thursday.
Today (7/7/08) - 6.344%
Yesterday (7/3/08) - 6.370%
One Week Ago (6/30/08) - 6.344%
One Month Ago (6/7/08) - 6.258%
One Year Ago (7/7/07) - 6.602%
Five Years Ago (7/7/03) - 5.614%
Ten Years Ago (7/7/98) - 7.132%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, July 3, 2008Thursday, July 3, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, July 3, 2008:
Rates are up 0.047 from Wednesday.
Today (7/3/08) - 6.370%
Yesterday (7/2/08) - 6.323%
One Week Ago (6/26/08) - 6.346%
One Month Ago (6/3/08) - 6.196%
One Year Ago (7/3/07) - 6.586%
Five Years Ago (7/3/03) - 5.565%
Ten Years Ago (7/3/98) - 7.109%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, July 2, 2008Wednesday, July 2, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, July 2, 2008:
Rates are down 0.021 from Tuesday.
Today (7/2/08) - 6.323%
Yesterday (7/1/08) - 6.344%
One Week Ago (6/25/08) - 6.325%
One Month Ago (6/2/08) - 6.198%
One Year Ago (7/2/07) - 6.592%
Five Years Ago (7/2/03) - 5.525%
Ten Years Ago (7/2/98) - 7.106%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, June 27, 2008Saturday, June 28, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, June 27, 2008:
Rates are down 0.002 from Thursday.
Today (6/26/08) - 6.346%
Yesterday (6/25/08) - 6.325%
One Week Ago (6/19/08) - 6.310%
One Month Ago (5/26/08) - 6.185%
One Year Ago (6/26/07) - 6.616%
Five Years Ago (6/26/03) - 5.500%
Ten Years Ago (6/26/98) - 7.213%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, June 24, 2008Thursday, June 26, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, June 24, 2008:
Rates are up 0.021 from Wednesday.
Today (6/26/08) - 6.346%
Yesterday (6/25/08) - 6.325%
One Week Ago (6/19/08) - 6.310%
One Month Ago (5/26/08) - 6.185%
One Year Ago (6/26/07) - 6.616%
Five Years Ago (6/26/03) - 5.500%
Ten Years Ago (6/26/98) - 7.213%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, June 23, 2008Wednesday, June 25, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, June 23, 2008:
Rates are up 0.010 from Tuesday.
Today (6/25/08) - 6.325%
Yesterday (6/22/08) - 6.315%
One Week Ago (6/18/08) - 6.289%
One Month Ago (5/25/08) - 6.172%
One Year Ago (6/25/07) - 6.616%
Five Years Ago (6/25/03) - 5.351%
Ten Years Ago (6/25/98) - 7.172%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, June 22, 2008Tuesday, June 24, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, June 22, 2008:
Rates are up 0.005 from Monday.
Today (6/24/08) - 6.315%
Yesterday (6/23/08) - 6.310%
One Week Ago (6/17/08) - 6.321%
One Month Ago (5/24/08) - 6.172%
One Year Ago (6/24/07) - 6.616%
Five Years Ago (6/24/03) - 5.369%
Ten Years Ago (6/24/98) - 7.173%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, June 21, 2008Monday, June 23, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, June 21, 2008:
Rates are unchanged from Friday.
Today (6/23/08) - 6.310%
Yesterday (6/20/08) - 6.310%
One Week Ago (6/16/08) - 6.336%
One Month Ago (5/23/08) - 6.172%
One Year Ago (6/23/07) - 6.628%
Five Years Ago (6/23/03) - 5.372%
Ten Years Ago (6/23/98) - 7.176%
Posted By Bruce A. MyersMortgage Market NewsMonday, June 23, 2008With no data set for release today, traders will watch stocks and oil prices to help gauge interest rate direction.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, June 20, 2008Friday, June 20, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, June 20, 2008:
Rates are unchanged from Thursday.
Today (6/20/08) - 6.310%
Yesterday (6/19/08) - 6.310%
One Week Ago (6/13/08) - 6.323%
One Month Ago (5/20/08) - 6.162%
One Year Ago (6/20/07) - 6.637%
Five Years Ago (6/20/03) - 5.372%
Ten Years Ago (6/20/98) - 7.223%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, June 19, 2008Thursday, June 19, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, June 19, 2008:
Rates are down 0.021 from Wednesday.
Today (6/19/08) - 6.310%
Yesterday (6/18/08) - 6.289%
One Week Ago (6/12/08) - 6.318%
One Month Ago (5/19/08) - 6.167%
One Year Ago (6/19/07) - 6.634%
Five Years Ago (6/19/03) - 5.364%
Ten Years Ago (6/19/98) - 7.223%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, June 18, 2008Thursday, June 19, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, June 18, 2008:
Rates are down 0.032 from Tuesday.
Today (6/18/08) - 6.289%
Yesterday (6/17/08) - 6.321%
One Week Ago (6/11/08) - 6.289%
One Month Ago (5/18/08) - 6.167%
One Year Ago (6/18/07) - 6.648%
Five Years Ago (6/18/03) - 5.347%
Ten Years Ago (6/18/98) - 7.195%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, June 17, 2008Tuesday, June 17, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, June 17, 2008:
Rates are down 0.015 from Monday.
Today (6/17/08) - 6.321%
Yesterday (6/16/08) - 6.336%
One Week Ago (6/10/08) - 6.287%
One Month Ago (5/17/08) - 6.172%
One Year Ago (6/17/07) - 6.648%
Five Years Ago (6/17/03) - 5.332%
Ten Years Ago (6/17/98) - 7.763%
Posted By Bruce A. MyersHow New FICO Score Model Will Effect Consumers Shopping for a MortgageTuesday, June 17, 2008Fair Issac Corporation, the supplier of the most widely used credit score model released a new and improved model called FICO 08. The new credit scoring model is intended to greatly improve the system's ability to predict the chances of a borrower defaulting on a loan. The model is intended to be more forgiving of occasional slips by consumersbut will take a harder line on repeat offenders.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, June 13, 2008Monday, June 16, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, June 13, 2008:
Rates are up 0.005 from Thursday.
Today (6/13/08) - 6.323%
Yesterday (6/12/08) - 6.318%
One Week Ago (6/6/08) - 6.258%
One Month Ago (5/13/08) - 6.180%
One Year Ago (6/13/07) - 6.539%
Five Years Ago (6/13/03) - 5.276%
Ten Years Ago (6/13/98) - 7.152%
Posted By Bruce A. MyersInflation Fears Dictate Bond PricesFriday, June 13, 2008Mortgage bond prices opened lower following the data this morning only to bounce back toward positive on the day. Higher than expected headline consumer price index data has some traders worried. Expect bond market volatility to continue.
CPI rose 0.6%, higher than the expected 0.5% increase. The core was in line with expectations rising 0.2%.
Inflation fears along with funding and liquidity concerns still have mortgage bonds generally out of favor with investors.
Oil prices fell this morning as the dollar strengthened a bit. Be cautious, prices are likely to remain volatile. Inflation remains the focus of traders.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, June 12, 2008Thursday, June 12, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, June 12, 2008:
Rates are up 0.029 from Wednesday.
Today (6/12/08) - 6.318%
Yesterday (6/11/08) - 6.289%
One Week Ago (6/5/08) - 6.269%
One Month Ago (5/12/08) - 6.151%
One Year Ago (6/12/07) - 6.531%
Five Years Ago (6/12/03) - 5.301%
Ten Years Ago (6/12/98) - 7.152%
Posted By Bruce A. MyersVolatile MarketsThursday, June 12, 2008Retail sales rose 1.0%, higher than the expected 0.5% increase causing the market to stay very volitile.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, June 11, 2008Wednesday, June 11, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, June 11, 2008:
Rates are up 0.002 from Tuesday.
Today (6/11/08) - 6.289%
Yesterday (6/10/08) - 6.287%
One Week Ago (6/4/08) - 6.190%
One Month Ago (5/11/08) - 6.151%
One Year Ago (6/11/07) - 6.522%
Five Years Ago (6/11/03) - 5.332%
Ten Years Ago (6/11/98) - 7.190%
Posted By Bruce A. MyersMortgage Rates Continue to RiseWednesday, June 11, 2008Oil spiked early this morning on supply concerns. Rates should continue to rise in the short-term.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, June 10, 2008Tuesday, June 10, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, June 10, 2008:
Rates are up 0.013 from Monday.
Today (6/10/08) - 6.287%
Yesterday (6/9/08) - 6.274%
One Week Ago (6/3/08) - 6.196%
One Month Ago (5/10/08) - 6.151%
One Year Ago (6/10/07) - 6.522%
Five Years Ago (6/10/03) - 5.332%
Ten Years Ago (6/10/98) - 7.209%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, June 9, 2008Monday, June 9, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, June 9, 2008:
Rates are up 0.016 from Friday.
Today (6/9/08) - 6.274%
Yesterday (6/6/08) - 6.258%
One Week Ago (6/2/08) - 6.198%
One Month Ago (5/9/08) - 6.151%
One Year Ago (6/9/07) - 6.485%
Five Years Ago (6/9/03) - 5.361%
Ten Years Ago (6/9/98) - 7.257%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, June 6, 2008Monday, June 9, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, June 6, 2008:
Rates are down 0.011 from Thursday.
Today (6/6/08) - 6.258%
Yesterday (6/5/08) - 6.269%
One Week Ago (5/29/08) - 6.214%
One Month Ago (5/6/08) - 6.159%
One Year Ago (6/6/07) - 6.440%
Five Years Ago (6/6/03) - 5.324%
Ten Years Ago (6/6/98) - 7.272%
Posted By Bruce A. MyersJobless Rate JumpFriday, June 6, 2008The jump in the May jobless rate was the largest one-month increase in 22 years from 5.5% level in april to 5% level in April.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, June 5, 2008Friday, June 6, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, June 5, 2008:
Rates are up 0.079 from Wednesday.
Today (6/5/08) - 6.269%
Yesterday (6/4/08) - 6.190%
One Week Ago (5/28/08) - 6.185%
One Month Ago (5/5/08) - 6.164%
One Year Ago (6/5/07) - 6.437%
Five Years Ago (6/5/03) - 5.324%
Ten Years Ago (6/5/98) - 7.272%
Posted By Bruce A. MyersJobless Claims Effecting Mortgage Rates TodayThursday, June 5, 2008Weekly jobless claims came in at 357,000 which was lower than the expected 375,000 mark. This should have a negative influence on unemployment numbers for tomorrow.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, June 4, 2008Wednesday, June 4, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, June 4, 2008:
Rates are down 0.006 from Tuesday.
Today (6/4/08) - 6.190%
Yesterday (6/3/08) - 6.196%
One Week Ago (5/27/08) - 6.185%
One Month Ago (5/4/08) - 6.154%
One Year Ago (6/4/07) - 6.431%
Five Years Ago (6/4/03) - 5.347%
Ten Years Ago (6/4/98) - 7.269%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, June 3, 2008Tuesday, June 3, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, June 3, 2008:
Rates are down 0.002 from Monday.
Today (6/3/08) - 6.196%
Yesterday (6/2/08) - 6.198%
One Week Ago (5/26/08) - 6.172%
One Month Ago (5/3/08) - 6.154%
One Year Ago (6/3/07) - 6.431%
Five Years Ago (6/3/03) - 5.347%
Ten Years Ago (6/3/98) - 7.252%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, June 2, 2008Monday, June 2, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, June 2, 2008:
Rates are down 0.011 from Friday.
Today (6/2/08) - 6.198%
Yesterday (5/30/08) - 6.209%
One Week Ago (5/23/08) - 6.172%
One Month Ago (4/30/08) - 6.183%
One Year Ago (5/30/07) - 6.372%
Five Years Ago (5/30/03) - 5.384%
Ten Years Ago (5/30/98) - 7.217%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, May 30, 2008Sunday, June 1, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, May 30, 2008:
Rates are udown 0.005 from Thursday.
Today (5/30/08) - 6.209%
Yesterday (5/29/08) - 6.214%
One Week Ago (5/23/08) - 6.172%
One Month Ago (4/30/08) - 6.183%
One Year Ago (5/30/07) - 6.372%
Five Years Ago (5/30/03) - 5.384%
Ten Years Ago (5/30/98) - 7.217%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, May 23, 2008Friday, May 23, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, May 23, 2008:
Rates are up 0.021 from Thursday.
Today (5/23/08) - 6.172%
Yesterday (5/22/08) - 6.151%
One Week Ago (5/16/08) - 6.172%
One Month Ago (4/23/08) - 6.172%
One Year Ago (5/23/07) - 6.302%
Five Years Ago (5/23/03) - 5.378%
Ten Years Ago (5/23/98) - 7.326%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, May 22, 2008Thursday, May 22, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, May 22, 2008:
Rates are down 0.013 from Wednesday.
Today (5/22/08) - 6.151%
Yesterday (5/21/08) - 6.164%
One Week Ago (5/15/08) - 6.193%
One Month Ago (4/22/08) - 6.175%
One Year Ago (5/22/07) - 6.282%
Five Years Ago (5/22/03) - 5.378%
Ten Years Ago (5/22/98) - 7.326%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, May 21, 2008Wednesday, May 21, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, May 21, 2008:
Rates are up 0.002 from Tuesday.
Today (5/21/08) - 6.164%
Yesterday (5/20/08) - 6.162%
One Week Ago (5/14/08) - 6.180%
One Month Ago (4/21/08) - 6.183%
One Year Ago (5/21/07) - 6.288%
Five Years Ago (5/21/03) - 5.460%
Ten Years Ago (5/21/98) - 7.268%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, May 20, 2008Tuesday, May 20, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, May 20, 2008:
Rates are down 0.005 from Monday.
Today (5/20/08) - 6.162%
Yesterday (5/19/08) - 6.167%
One Week Ago (5/13/08) - 6.180%
One Month Ago (4/20/08) - 6.183%
One Year Ago (5/20/07) - 6.288%
Five Years Ago (5/20/03) - 5.486%
Ten Years Ago (5/20/98) - 7.281%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, May 19, 2008Monday, May 19, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, May 19, 2008:
Rates are down 0.005 from Friday.
Today (5/19/08) - 6.167%
Yesterday (5/16/08) - 6.172%
One Week Ago (5/12/08) - 6.151%
One Month Ago (4/19/08) - 6.206%
One Year Ago (5/19/07) - 6.276%
Five Years Ago (5/19/03) - 5.509%
Ten Years Ago (5/19/98) - 7.310%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, May 16, 2008Friday, May 16, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, May 16, 2008:
Rates are down 0.021 from Thursday.
Today (5/16/08) - 6.172%
Yesterday (5/15/08) - 6.193%
One Week Ago (5/9/08) - 6.151%
One Month Ago (4/16/08) - 6.131%
One Year Ago (5/16/07) - 6.253%
Five Years Ago (5/16/03) - 5.491%
Ten Years Ago (5/16/98) - 7.329%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, May 15, 2008Thursday, May 15, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, May 15, 2008:
Rates are up 0.010 from Wednesday.
Today (5/15/08) - 6.193%
Yesterday (5/14/08) - 6.183%
One Week Ago (5/8/08) - 6.151%
One Month Ago (4/15/08) - 6.123%
One Year Ago (5/15/07) - 6.253%
Five Years Ago (5/15/03) - 5.526%
Ten Years Ago (5/15/98) - 7.329%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, May 14, 2008Wednesday, May 14, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, May 14, 2008:
Rates are up 0.003 from Tuesday.
Today (5/14/08) - 6.183%
Yesterday (5/13/08) - 6.180%
One Week Ago (5/7/08) - 6.164%
One Month Ago (4/14/08) - 6.102%
One Year Ago (5/14/07) - 6.250%
Five Years Ago (5/14/03) - 5.560%
Ten Years Ago (5/14/98) - 7.331%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, May 13, 2008Tuesday, May 13, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, May 13, 2008:
Rates are up 0.029 from Monday.
Today (5/13/08) - 6.180%
Yesterday (5/12/08) - 6.151%
One Week Ago (5/6/08) - 6.164%
One Month Ago (4/13/08) - 6.102%
One Year Ago (5/13/07) - 6.250%
Five Years Ago (5/13/03) - 5.597%
Ten Years Ago (5/13/98) - 7.340%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, May 12, 2008Monday, May 12, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, May 12, 2008:
Rates are unchanged from Friday.
Today (5/12/08) - 6.151%
Yesterday (5/9/08) - 6.151%
One Week Ago (5/5/08) - 6.164%
One Month Ago (4/12/08) - 6.099%
One Year Ago (5/12/07) - 6.239%
Five Years Ago (5/12/03) - 5.591%
Ten Years Ago (5/12/98) - 7.385%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, May 9, 2008Friday, May 9, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, May 9, 2008:
Rates are unchanged from Thursday.
Today (5/9/08) - 6.151%
Yesterday (5/8/08) - 6.151%
One Week Ago (5/2/08) - 6.154%
One Month Ago (4/9/08) - 6.164%
One Year Ago (5/9/07) - 6.250%
Five Years Ago (5/9/03) - 5.580%
Ten Years Ago (5/9/98) - 7.326%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, May 8, 2008Thursday, May 8, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, May 8, 2008:
Rates are up .013% from Wednesday.
Today (5/8/08) - 6.151%
Yesterday (5/7/08) - 6.164%
One Week Ago (5/1/08) - 6.146%
One Month Ago (4/8/08) - 6.170%
One Year Ago (5/8/07) - 6.244%
Five Years Ago (5/8/03) - 5.580%
Ten Years Ago (5/8/98) - 7.326%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, May 7, 2008Wednesday, May 7, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, May 7, 2008:
Rates are up .005% from Tuesday.
Today (5/7/08) - 6.164%
Yesterday (5/6/08) - 6.159%
One Week Ago (4/30/08) - 6.183%
One Month Ago (4/7/08) - 6.167%
One Year Ago (5/7/07) - 6.244%
Five Years Ago (5/7/03) - 5.653%
Ten Years Ago (5/7/98) - 7.310%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, May 6, 2008Tuesday, May 6, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, May 6, 2008:
Rates are down .005% from Monday.
Today (5/6/08) - 6.159%
Yesterday (5/5/08) - 6.164%
One Week Ago (4/29/08) - 6.183%
One Month Ago (4/6/08) - 6.167%
One Year Ago (5/6/07) - 6.244%
Five Years Ago (5/6/03) - 5.689%
Ten Years Ago (5/6/98) - 7.330%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, May 5, 2008Monday, May 5, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, May 6, 2008:
Rates are up .010% from Friday.
Today (5/5/08) - 6.164%
Yesterday (5/2/08) - 6.154%
One Week Ago (4/28/08) - 6.198%
One Month Ago (4/5/08) - 6.159%
One Year Ago (5/5/07) - 6.247%
Five Years Ago (5/5/03) - 5.718%
Ten Years Ago (5/5/98) - 7.319%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, May 2, 2008Friday, May 2, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, May 2, 2008:
Rates are down .008% from Thursday.
Today (5/2/08) - 6.154%
Yesterday (5/1/08) - 6.146%
One Week Ago (4/25/08) - 6.196%
One Month Ago (4/2/08) - 6.170%
One Year Ago (5/2/07) - 6.246%
Five Years Ago (5/2/03) - 5.695%
Ten Years Ago (5/2/98) - 7.293%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, May 1, 2008Thursday, May 1, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, May 1, 2008:
Rates are down .037% from Wednesday.
Today (5/1/08) - 6.146%
Yesterday (4/30/08) - 6.183%
One Week Ago (4/24/08) - 6.193%
One Month Ago (4/1/08) - 6.162%
One Year Ago (5/1/07) - 6.246%
Five Years Ago (5/1/03) - 5.749%
Ten Years Ago (5/1/98) - 7.293%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, April 30, 2008Wednesday, April 30, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, April 30, 2008:
Rates are unchanged from Tuesday.
Today (4/30/08) - 6.183%
Yesterday (4/29/08) - 6.183%
One Week Ago (4/23/08) - 6.172%
One Month Ago (3/30/08) - 6.164%
One Year Ago (4/28/07) - 6.249%
Five Years Ago (4/30/03) - 5.763%
Ten Years Ago (4/30/98) - 7.386%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 29, 2008Tuesday, April 29, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, April 29, 2008:
Rates are down 0.015% from Monday.
Today (4/29/08) - 6.183%
Yesterday (4/28/08) - 6.198%
One Week Ago (4/22/08) - 6.175%
One Month Ago (3/29/08) - 6.164%
One Year Ago (4/29/07) - 6.249%
Five Years Ago (4/29/03) - 5.766%
Ten Years Ago (4/29/98) - 7.436%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, April 28, 2008Monday, April 28, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, April 28, 2008:
Rates are up 0.002% from Friday.
Today (4/28/08) - 6.198%
Yesterday (4/25/08) - 6.196%
One Week Ago (4/21/08) - 6.177%
One Month Ago (3/28/08) - 6.164%
One Year Ago (4/28/07) - 6.249%
Five Years Ago (4/28/03) - 5.780%
Ten Years Ago (4/28/98) - 7.309%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, April 25, 2008Monday, April 28, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, April 25, 2008:
Rates are up 0.003% from Thursday.
Today (4/25/08) - 6.196%
Yesterday (4/24/08) - 6.193%
One Week Ago (4/18/08) - 6.206%
One Month Ago (3/25/08) - 6.112%
One Year Ago (4/25/07) - 6.212%
Five Years Ago (4/25/03) - 5.780%
Ten Years Ago (4/25/98) - 7.309%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, April 24, 2008Thursday, April 24, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, April 24, 2008:
Rates are down 0.021% from Wednesday.
Today (4/24/08) - 6.193%
Yesterday (4/23/08) - 6.172%
One Week Ago (4/17/08) - 6.196%
One Month Ago (3/24/08) - 6.125%
One Year Ago (4/24/07) - 6.209%
Five Years Ago (4/24/03) - 5.834%
Ten Years Ago (4/24/98) - 7.309%
Posted By Bruce A. MyersBleak OutlookWednesday, April 23, 2008Existing-home sales were down again in March, with figures in line with the sales activites September 2007, according to the National Association of Realtors (NAR).
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 22, 2008Tuesday, April 22, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, April 22, 2008:
Rates are down 0.002% from Monday.
Today (4/22/08) - 6.175%
Yesterday (4/21/08) - 6.177%
One Week Ago (4/15/08) - 6.123%
One Month Ago (3/22/08) - 6.105%
One Year Ago (4/22/07) - 6.220%
Five Years Ago (4/22/03) - 5.835%
Ten Years Ago (4/22/98) - 7.311%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, April 21, 2008Monday, April 21, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, April 21, 2008:
Rates are up 0.041% from Friday.
Today (4/21/08) - 6.177%
Yesterday (4/18/08) - 6.207%
One Week Ago (4/14/08) - 6.102%
One Month Ago (3/21/08) - 6.105%
One Year Ago (4/21/07) - 6.220%
Five Years Ago (4/21/03) - 5.855%
Ten Years Ago (4/21/98) - 7.310%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, April 18, 2008Friday, April 18, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, April 18, 2008:
Rates are up 0.010% from Friday.
Today (4/18/08) - 6.206%
Yesterday (4/17/08) - 6.196%
One Week Ago (4/11/08) - 6.099%
One Month Ago (3/18/08) - 6.170%
One Year Ago (4/18/07) - 6.209%
Five Years Ago (4/18/03) - 5.844%
Ten Years Ago (4/18/98) - 7.232%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, April 17, 2008Thursday, April 17, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, April 17, 2008:
Rates are up 0.065% from Thursday.
Today (4/17/08) - 6.196%
Yesterday (4/16/08) - 6.131%
One Week Ago (4/10/08) - 6.149%
One Month Ago (3/17/08) - 6.185%
One Year Ago (4/17/07) - 6.243%
Five Years Ago (4/17/03) - 5.832%
Ten Years Ago (4/17/98) - 7.232%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, April 16, 2008Wednesday, April 16, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, April 16, 2008:
Rates are up 0.008% from Wednesday.
Today (4/16/08) - 6.131%
Yesterday (4/15/08) - 6.123%
One Week Ago (4/9/08) - 6.164%
One Month Ago (3/16/08) - 6.185%
One Year Ago (4/16/07) - 6.254%
Five Years Ago (4/16/03) - 5.832%
Ten Years Ago (4/16/98) - 7.260%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 15, 2008Tuesday, April 15, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, April 15, 2008:
Rates are up 0.021% from Tuesday.
Today (4/15/08) - 6.123%
Yesterday (4/14/08) - 6.102%
One Week Ago (4/8/08) - 6.170%
One Month Ago (3/14/08) - 6.198%
One Year Ago (4/13/07) - 6.254%
Five Years Ago (4/15/03) - 5.858%
Ten Years Ago (4/15/98) - 7.290%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, April 14, 2008Monday, April 14, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, April 14, 2008:
Rates are up 0.003% from Monday.
Today (4/14/08) - 6.102%
Yesterday (4/11/08) - 6.099%
One Week Ago (4/7/08) - 6.167%
One Month Ago (3/14/08) - 6.198%
One Year Ago (4/14/07) - 6.254%
Five Years Ago (4/14/03) - 5.861%
Ten Years Ago (4/14/98) - 7.332%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, April 11, 2008Friday, April 11, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, April 11, 2008:
Rates are down 0.050% from Thursday.
Today (4/11/08) - 6.099%
Yesterday (4/10/08) - 6.149%
One Week Ago (4/4/08) - 6.159%
One Month Ago (3/11/08) - 6.276%
One Year Ago (4/11/07) - 6.233%
Five Years Ago (4/11/03) - 5.889%
Ten Years Ago (4/10/98) - 7.266%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, April 10, 2008Thursday, April 10, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, April 10, 2008:
Rates are down 0.015% from Wednesday.
Today (4/10/08) - 6.149%
Yesterday (4/9/08) - 6.164%
One Week Ago (4/3/08) - 6.172%
One Month Ago (3/11/08) - 6.276%
One Year Ago (4/10/07) - 6.228%
Five Years Ago (4/10/03) - 5.855%
Ten Years Ago (4/10/98) - 7.266%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, April 9, 2008Wednesday, April 9, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, April 9, 2008:
Rates are down 0.006% from Tuesday.
Today (4/9/08) - 6.164%
Yesterday (4/8/08) - 6.170%
One Week Ago (4/2/08) - 6.170%
One Month Ago (3/10/08) - 6.276%
One Year Ago (4/9/07) - 6.228%
Five Years Ago (4/9/03) - 5.849%
Ten Years Ago (4/9/98) - 7.260%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 8, 2008Tuesday, April 8, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, April 8, 2008:
Rates are up 0.003% from Monday.
Today (4/8/08) - 6.170%
Yesterday (4/7/08) - 6.167%
One Week Ago (4/1/08) - 6.162%
One Month Ago (3/7/08) - 6.289%
One Year Ago (4/8/07) - 6.228%
Five Years Ago (4/8/03) - 5.889%
Ten Years Ago (4/8/98) - 7.195%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, April 7, 2008Monday, April 7, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, April 7, 2008:
Rates are up 0.008% from Friday.
Today (4/7/08) - 6.167%
Yesterday (4/4/08) - 6.159%
One Week Ago (3/31/08) - 6.138%
One Month Ago (3/7/08) - 6.289%
One Year Ago (4/7/07) - 6.219%
Five Years Ago (4/7/03) - 5.881%
Ten Years Ago (4/7/98) - 7.199%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, April 4, 2008Friday, April 4, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, April 4, 2008:
Rates are down 0.013% from Thursday.
Today (4/4/08) - 6.159%
Yesterday (4/3/08) - 6.172%
One Week Ago (3/27/08) - 6.157%
One Month Ago (3/4/08) - 6.091%
One Year Ago (4/4/07) - 6.214%
Five Years Ago (4/4/03) - 5.881%
Ten Years Ago (4/4/98) - 7.158%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, April 3, 2008Thursday, April 3, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, April 3, 2008:
Rates are up 0.002% from Wednesday.
Today (4/3/08) - 6.172%
Yesterday (4/2/08) - 6.170%
One Week Ago (3/26/08) - 6.105%
One Month Ago (3/3/08) - 6.078%
One Year Ago (4/3/07) - 6.205%
Five Years Ago (4/3/03) - 5.881%
Ten Years Ago (4/3/98) - 7.138%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 1, 2008Wednesday, April 2, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, April 2, 2008:
Rates are up 0.008% from Tuesday.
Today (4/2/08) - 6.170%
Yesterday (4/1/08) - 6.162%
One Week Ago (3/25/08) - 6.112%
One Month Ago (3/2/08) - 6.078%
One Year Ago (4/2/07) - 6.208%
Five Years Ago (4/2/03) - 5.872%
Ten Years Ago (4/2/98) - 7.409%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, April 1, 2008Tuesday, April 1, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, April 1, 2008:
Rates are down 0.026% from Monday.
Today (4/1/08) - 6.138%
Yesterday (3/31/08) - 6.138%
One Week Ago (3/24/08) - 6.125%
One Month Ago (2/31/08) - 6.164%
One Year Ago (3/31/07) - 6.214%
Five Years Ago (3/31/03) - 5.835%
Ten Years Ago (3/31/98) - 7.368%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Monday, March 31, 2008Monday, March 31, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, March 31, 2008:
Rates are down 0.026% from Friday.
Today (3/31/08) - 6.138%
Yesterday (3/28/08) - 6.164%
One Week Ago (3/24/08) - 6.125%
One Month Ago (2/31/08) - 6.164%
One Year Ago (3/31/07) - 6.214%
Five Years Ago (3/31/03) - 5.835%
Ten Years Ago (3/31/98) - 7.368%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, March 27, 2008Thursday, March 27, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, March 27, 2008:
Rates are up 0.052% from Wednesday.
Today (3/27/08) - 6.157%
Yesterday (3/26/08) - 6.105%
One Week Ago (3/20/08) - 6.102%
One Month Ago (2/27/08) - 6.164%
One Year Ago (3/27/07) - 6.175%
Five Years Ago (3/27/03) - 5.918%
Ten Years Ago (3/27/98) - 7.312%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, March 26, 2008Wednesday, March 26, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, March 26, 2008:
Rates are down 0.007% from Tuesday.
Today (3/26/08) - 6.105%
Yesterday (3/25/08) - 6.112%
One Week Ago (3/19/08) - 6.206%
One Month Ago (2/26/08) - 6.169%
One Year Ago (3/26/07) - 6.172%
Five Years Ago (3/26/03) - 5.957%
Ten Years Ago (3/26/98) - 7.314%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Tuesday, March 25, 2008Tuesday, March 25, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, March 25, 2008:
Rates are up 0.013% from Monday.
Today (3/25/08) - 6.112%
Yesterday (3/24/08) - 6.125%
One Week Ago (3/18/08) - 6.185%
One Month Ago (2/25/08) - 6.169%
One Year Ago (3/25/07) - 6.132%
Five Years Ago (3/25/03) - 6.011%
Ten Years Ago (3/25/98) - 7.253%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Friday, March 21, 2008Monday, March 24, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, March 24, 2008:
Rates are up 0.020% from Friday.
Today (3/24/08) - 6.125%
Yesterday (3/21/08) - 6.105%
One Week Ago (3/17/08) - 6.185%
One Month Ago (2/24/08) - 6.169%
One Year Ago (3/24/07) - 6.132%
Five Years Ago (3/24/03) - 6.011%
Ten Years Ago (3/24/98) - 7.253%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Friday, March 21, 2008Friday, March 21, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, March 21, 2008:
Rates are up 0.003% from Thursday.
Today (3/21/08) - 6.105%
Yesterday (3/20/08) - 6.102%
One Week Ago (3/14/08) - 6.198%
One Month Ago (2/21/08) - 6.100%
One Year Ago (3/21/07) - 6.145%
Five Years Ago (3/21/03) - 6.037%
Ten Years Ago (3/21/98) - 7.249%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Thursday, March 20, 2008Thursday, March 20, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, March 20, 2008:
Rates are down 0.104% from Wednesday.
Today (3/20/08) - 6.102%
Yesterday (3/19/08) - 6.206%
One Week Ago (3/13/08) - 6.216%
One Month Ago (2/20/08) - 6.108%
One Year Ago (3/20/07) - 6.153%
Five Years Ago (3/20/03) - 5.918%
Ten Years Ago (3/20/98) - 7.249%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Wednesday, March 19, 2008Wednesday, March 19, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, March 19, 2008:
Rates are down 0.005% from Tuesday.
Today (3/19/08) - 6.206%
Yesterday (3/18/08) - 6.211%
One Week Ago (3/12/08) - 6.284%
One Month Ago (2/19/08) - 6.069%
One Year Ago (3/19/07) - 6.153%
Five Years Ago (3/19/03) - 5.905%
Ten Years Ago (3/19/98) - 7.264%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Tuesday, March 18, 2008Tuesday, March 18, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, March 18, 2008:
Rates are down 0.015% from Monday.
Today (3/18/08) - 6.170%
Yesterday (3/17/08) - 6.185%
One Week Ago (3/11/08) - 6.276%
One Month Ago (2/18/08) - 6.069%
One Year Ago (3/18/07) - 6.151%
Five Years Ago (3/18/03) - 5.812%
Ten Years Ago (3/18/98) - 7.253%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Monday, March 17, 2008Monday, March 17, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, March 17, 2008:
Rates are down 0.013% from Friday.
Today (3/17/08) - 6.185%
Yesterday (3/14/08) - 6.198%
One Week Ago (3/10/08) - 6.276%
One Month Ago (2/17/08) - 6.069%
One Year Ago (3/17/07) - 6.151%
Five Years Ago (3/17/03) - 5.786%
Ten Years Ago (3/17/98) - 7.208%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Friday March 14, 2008Friday, March 14, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, March 14, 2008:
Rates are down 0.018% from Thursday.
Today (3/14/08) - 6.198%
Yesterday (3/13/08) - 6.216%
One Week Ago (3/7/08) - 6.289%
One Month Ago (2/14/08) - 6.022%
One Year Ago (3/14/07) - 6.128%
Five Years Ago (3/14/03) - 5.783%
Ten Years Ago (3/14/98) - 7.234%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Monday March 10, 2008Thursday, March 13, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, March 13, 2008:
Rates are down 0.68% from Wednesday.
Today (3/13/08) - 6.216%
Yesterday (3/12/08) - 6.284%
One Week Ago (3/6/08) - 6.240%
One Month Ago (2/13/08) - 6.022%
One Year Ago (3/13/07) - 6.146%
Five Years Ago (3/13/03) - 5.743%
Ten Years Ago (3/13/98) - 7.234%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Monday March 10, 2008Tuesday, March 11, 2008ere is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, March 11, 2008:
Rates are unchanged from Monday.
Today (3/11/08) - 6.276%
Yesterday (3/10/08) - 6.276%
One Week Ago (3/4/08) - 6.091%
One Month Ago (2/11/08) - 5.902%
One Year Ago (3/11/07) - 6.146%
Five Years Ago (3/11/03) - 5.667%
Ten Years Ago (3/11/98) - 7.251%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Monday March 10, 2008Monday, March 10, 2008ere is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, March 10, 2008:
Rates are up .036 from Friday.
Today (3/10/08) - 6.276%
Yesterday (3/7/08) - 6.240%
One Week Ago (3/3/08) - 6.078%
One Month Ago (2/10/08) - 5.902%
One Year Ago (3/10/07) - 6.140%
Five Years Ago (3/10/03) - 5.641%
Ten Years Ago (3/10/98) - 7.295%
Posted By Bruce A. MyersHome Values Drop in Fourth Quarter 2007Monday, March 10, 2008The United States had its first consecutive quarters of decline in Home values in the third and fourth quarter 2007. U.S. home values registered at 0.5% drop in the fourth quarter. Overall the home values for the year appreciated 0.3% which is much less than the 6.2 during 2006.
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Friday March 7, 2008Friday, March 7, 2008ere is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, March 7, 2008:
Rates are up .034 from Thursday.
Today (3/7/08) - 6.125%
Yesterday (3/6/08) - 6.091%
One Week Ago (2/29/08) - 6.164%
One Month Ago (2/7/08) - 5.818%
One Year Ago (3/7/07) - 6.140%
Five Years Ago (3/7/03) - 5.727%
Ten Years Ago (3/7/98) - 7.399%
Posted By Bruce A. MyersValue of Homes Continue to Decline in the United StatesThursday, March 6, 2008The US Home Values as announced by Freddie Mac declined in the third and fourth quarters of 2007, marking the first consecutive quarters of decline since 1982. U.S. home values dropped 0.5% in the fourth quarter. Overall home values increased 0.3% for the year, considerably less than the 6.2% increase in 2006.
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Wednesday March 5, 2008Wednesday, March 5, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, March 5, 2008:
Rates are up .013 from Tuesday.
Today (3/5/08) - 6.091%
Yesterday (3/4/08) - 6.078%
One Week Ago (2/27/08) - 6.169%
One Month Ago (2/5/08) - 5.818%
One Year Ago (3/5/07) - 6.140%
Five Years Ago (3/5/03) - 5.741%
Ten Years Ago (3/5/98) - 7.412%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Tuesday March 4, 2008Tuesday, March 4, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, March 4, 2008:
Rates are up .005 from Monday.
Today (3/4/08) - 6.078%
Yesterday (3/3/08) - 6.073%
One Week Ago (2/26/08) - 6.169%
One Month Ago (2/4/08) - 5.818%
One Year Ago (3/4/07) - 6.140%
Five Years Ago (3/4/03) - 5.750%
Ten Years Ago (3/4/98) - 7.394%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Monday, March 3, 2008Monday, March 3, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, March 3, 2008:
Rates are up .005 from Friday.
Today (3/3/08) - 6.078%
Yesterday (2/29/08) - 6.073%
One Week Ago (2/25/08) - 6.100%
One Month Ago (2/3/08) - 5.832%
One Year Ago (3/3/07) - 6.191%
Five Years Ago (3/3/03) - 5.781%
Ten Years Ago (3/3/98) - 7.361%
Posted By Bruce A. MyersDaily Mortgage Market Snapshop Thursday, February 28, 2008Thursday, February 28, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, February 28, 2008:
Rates are down .008 from Wednesday.
Today (2/28/08) - 6.164%
Yesterday (2/27/08) - 6.172%
One Week Ago (2/21/08) - 6.100%
One Month Ago (1/28/08) - 5.832%
One Year Ago (2/28/07) - 6.191%
Five Years Ago (2/28/03) - 5.781%
Ten Years Ago (2/28/98) - 7.361%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Tuesday, February 26, 2008Tuesday, February 26, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, February 26, 2008:
Rates are up .003 from Monday.
Today (2/26/08) - 6.172%
Yesterday (2/25/08) - 6.169%
One Week Ago (2/19/08) - 6.069%
One Month Ago (1/26/08) - 5.847%
One Year Ago (2/26/07) - 6.197%
Five Years Ago (2/26/03) - 5.803%
Ten Years Ago (2/26/98) - 7.348%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot, Monday, February 25, 2008Monday, February 25, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Monday, February 25, 2008:
Rates are up .069 from Friday.
Today (2/25/08) - 6.169%
Yesterday (2/22/08) - 6.100%
One Week Ago (2/18/08) - 6.069%
One Month Ago (1/25/08) - 5.847%
One Year Ago (2/25/07) - 6.197%
Five Years Ago (2/25/03) - 5.806%
Ten Years Ago (2/25/98) - 7.386%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot, Tuesday, February 19, 2008Tuesday, February 19, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, February 19, 2008:
Rates are unchanged from Monday.
Today (2/19/08) - 6.069%
Yesterday (2/18/08) - 6.069%
One Week Ago (2/12/08) - 5.913%
One Month Ago (1/19/08) - 6.018%
One Year Ago (2/19/07) - 6.185%
Five Years Ago (2/19/03) - 5.891%
Ten Years Ago (2/19/98) - 7.225%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Friday, February 15, 2008Friday, February 15, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Friday, February 15, 2008:
Rates are up .047 from Thursday.
Today (2/15/08) - 6.069%
Yesterday (2/14/08) - 6.022%
One Week Ago (2/8/08) - 5.908%
One Month Ago (1/15/08) - 6.052%
One Year Ago (2/15/07) - 6.217%
Five Years Ago (2/15/03) - 5.900%
Ten Years Ago (2/15/98) - 7.203%
Posted By Bruce A. MyersHow to Use Shoprate.com to Finalize Your Home Financing DecisionFriday, February 15, 2008Now it is time to find the right mortgage program for my particular situation and then to find the best lender to meet my needs. I have done all of my homework, done research using the resources offered by Shoprate.com and I am ready to start the final selection process.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Thursday, February 14, 2008Friday, February 15, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Thursday, February 14, 2008:
Rates are up .099 from Wednesday.
Today (2/14/08) - 6.022%
Yesterday (2/13/08) - 5.913%
One Week Ago (2/7/08) - 5.844%
One Month Ago (1/14/08) - 6.065%
One Year Ago (2/14/07) - 6.217%
Five Years Ago (2/14/03) - 5.903%
Ten Years Ago (2/14/98) - 7.203%
Posted By Bruce A. MyersDaily Mortgage Market Snapshot Wednesday, February 13, 2008Wednesday, February 13, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Wednesday, February 13, 2008:
Rates are up .011 from Tuesday.
Today (2/13/08) - 5.913%
Yesterday (2/12/08) - 5.902%
One Week Ago (2/6/08) - 5.802%
One Month Ago (1/13/08) - 6.068%
One Year Ago (2/13/07) - 6.234%
Five Years Ago (2/13/03) - 5.925%
Ten Years Ago (2/13/98) - 7.255%
Posted By Bruce A. MyersHow to Use Shoprate.com - A TutorialWednesday, February 13, 2008I am going to be buying a new home in the upcoming months. Thought it would be a great time to see how to best utilize the features offered at Shoprate.com to help me through my home financing decision.
Posted By Bruce A. MyersDaily Mortgage Market Snapshot February 12, 2008Tuesday, February 12, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages, with zero points for Tuesday, February 12, 2008:
Rates are unchanged from Monday.
Today (2/12/08) - 5.902%
Yesterday (2/11/08) - 5.902%
One Week Ago (2/5/08) - 5.818%
One Month Ago (1/12/08) - 6.068%
One Year Ago (2/12/07) - 6.229%
Five Years Ago (2/12/03) - 5.947%
Ten Years Ago (2/12/98) - 7.268%
Posted By Bruce A. MyersHow to Utilize Shoprate.com in Shopping for Your Best Mortgage DealTuesday, February 12, 2008When shopping for a mortgage, the most important thing to attempt to do is compare "apples to apples". Do some basic homework, check with your State Banking department to find out the reliability of the lenders with whom you have interest. Often times the State Banking Department will have on file any consumer complaints and whether or not they were handled by the lending institution in a timely and professional manner. Do your own 'due diligence' by typing the name of the mortgage lender into a search engine, along with the words "problem" or "scam" or "bad experience". This should exhibit any negative postings about them. If there are a lot, or the allegations look substantial, avoid them.
Posted By Bruce A. MyersDaily Mortgage Market Average Snapshot, February 11, 2008Monday, February 11, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages for Monday, February 11, 2008:
Rates are down .006% from Friday.
Today (2/11/08) - 5.902%
Yesterday (2/8/08) - 5.908%
One Week Ago (2/4/08) - 5.819%
One Month Ago (1/11/08) - 6.068%
One Year Ago (2/11/07) - 6.226%
Five Years Ago (2/11/03) - 5.956%
Ten Years Ago (2/11/98) - 7.309%
Posted By Bruce A. MyersMortgage Market Average Snapshot From February 4, 2008Tuesday, February 5, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages for Monday, February 4, 2008:
Rates are down .001% from Friday.
Today (2/4/08) - 5.818%
Yesterday (2/1/08) - 5.819%
One Week Ago (1/28/08) - 5.832%
One Month Ago (1/4/08) - 6.141%
One Year Ago (2/4/07) - 6.263%
Five Years Ago (2/4/03) - 5.962%
Ten Years Ago (2/4/98) - 7.301%
Posted By Bruce A. MyersMortgage Market Average Snapshot February 4, 2008Monday, February 4, 2008Here is a look at 30-year Fixed Conforming Mortgage Rate averages for Friday, February 1, 2008:
Rates are down .002% from Thursday.
Today (2/1/08) - 5.819%
Yesterday (1/31/08) - 5.821%
One Week Ago (1/25/08) - 5.847%
One Month Ago (1/1/08) - 6.288%
One Year Ago (2/1/08) - 6.263%
Five Years Ago (2/1/03) - 5.969%
Ten Years Ago (2/1/98) - 7.298%
Posted By Bruce A. MyersDaily Mortgage Market UpdateTuesday, January 29, 2008SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: I recommend that you avoid "floating" loans in this category until/unless the price of the Fannie Mae 5.5% mortgage-backed security can muster the momentum to close above 101.468.
LONG-TERM TREND (21 days or more) Hanging on by a thread to a trend trajectory that favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, January 28, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but very vulnerable to "whippy" price action all week.
SUGGESTED PIPELINE STRATEGY: I suggest that you be prepared to immediately convert any "floating" loan in this category to "locked" should the Fannie Mae 5.5% mortgage-backed security fall below a price of 101.312 on a closing basis.
LONG-TERM TREND (21 days or more) Hanging on by a thread to a trend trajectory that favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateFriday, January 25, 2008SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: Avoid "floating" loan positions in this category until/unless the Fannie Mae 5.5% mortgage-backed security can muster the momentum to move up and through a price of 101.437 on a closing basis.
LONG-TERM TREND (21 days or more) Hanging on by a thread to a trend trajectory that favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, January 24, 2008SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: Avoid "floating" loan positions in this category until/unless the Fannie Mae 5.5% mortgage-backed security can muster the momentum to move up and through a price of 101.468 on a closing basis.
LONG-TERM TREND (21 days or more) Hanging on by a thread to a trend trajectory that favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, January 23, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices
SUGGESTED PIPELINE STRATEGY: Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.312.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, January 22, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices
SUGGESTED PIPELINE STRATEGY: Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.312.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
Posted By By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, January 17, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but struggling to hold this trend trajectory.
SUGGESTED PIPELINE STRATEGY: Trading activity is light. The few buyers that are active this morning are clawing hard to hold on to earlier gains. Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.218.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, January 16, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices. Expect price volatility levels to be inordinately high through the market close today.
SUGGESTED PIPELINE STRATEGY: Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.218.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, January 15, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices. Expect price volatility levels to be inordinately high through Wednesday.
SUGGESTED PIPELINE STRATEGY: Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.125.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 101.125 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, January 14, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices. Expect price volatility levels to be inordinately high through Wednesday.
SUGGESTED PIPELINE STRATEGY: Be prepared to convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% mortgage-backed security close below 101.062.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.906 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, January 10, 2008SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: I recommend that you limit and preferably outright avoid initiating new "floating" loans in this category until/unless the price of the Fannie Mae 5.5% 30-year mortgage-backed security can muster the necessary momentum to close above 100.812.
From a timing perspective a number of short and intermediate term cycles will be merging between Friday, January 11th and Tuesday, January 15th. The potential for a short-term trend change lasting several days or more will be at its highest point during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.375 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, January 9, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but becoming increasingly vulnerable to a short-term trend change favoring higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.781 on a closing basis.
From a timing perspective a number of short and intermediate term cycles will be merging between Friday, January 11th and Tuesday, January 15th. The potential for a short-term trend change lasting several days or more will be at its highest point during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.375 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, January 8, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but becoming increasingly vulnerable to a short-term trend change favoring higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.656 on a closing basis.
From a timing perspective a number of short and intermediate term cycles will be merging between Friday, January 11th and Tuesday, January 15th. The potential for a short-term trend change lasting several days or more will be at its highest point during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.375 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, January 7, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but becoming increasingly vulnerable to a short-term trend change favoring higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.437 on a closing basis.
From a timing perspective a number of short and intermediate term cycles will be merging between Friday, January 11th and Tuesday, January 15th. The potential for a short-term trend change lasting several days or more will be at its highest point during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 5.5% 30-year mortgage-backed security fall below 100.375 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateFriday, January 4, 2008Housekeeping Note: Effective Monday, January 7th I will be using the Fannie Mae 5.5% mortgage-backed security as my primary index for price and time projections. You'll notice the related changes on "The Current Prices" page of my website.
SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but becoming increasingly vulnerable to a short-term trend change favoring higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.973 on a closing basis.
From a timing perspective a number of short and intermediate term cycles will be merging between Friday, January 11th and Tuesday, January 15th. The potential for a short-term trend change lasting several days or more will be at its highest point during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.750 on a closing basis.
From a technical perspective the week ending Saturday, January 19th appears to be the next most likely time frame to expect a long-term trend change to develop.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, January 3, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but becoming increasingly vulnerable to a short-term trend change favoring higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.562 on a closing basis.
From a timing perspective a number of short and intermediate term cycles are merging today. The potential for a trend change lasting several days or more is at its highest point.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.406 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, January 2, 2008SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.562 on a closing basis.
From a timing perspective a number of short and intermediate term cycles will be merging between today and tomorrow. The potential for a trend change lasting several days or more will be highest during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any "floating" loan in this category to "locked" should the price of the Fannie Mae 6.0% 30-year mortgage-backed security fall below 101.406 on a closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, December 27, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above a price of 101.062.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above a price of 101.062.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, December 24, 2007Best wishes to you and yours for all the best the season has to offer
Reminder: The mortgage market will close early today at 2:00 p.m. ET for the Christmas Holiday
SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above 101.343.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above 101.343.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateFriday, December 21, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above a price of 101.343.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loans in this category until/unless the Fannie Mae 6.0% 30-year mortgage-backed security can muster the momentum to close above a price of 101.343.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, December 20, 2007SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any “floating” loan in this category to “locked” should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.406 on a closing basis
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert any “floating” loan in this category to “locked” should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.406 on a closing basis
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, December 19, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices but flirting with a trend change price point.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.250.
The probabilities are very high that we will see a test of buyers’ current convictions in the next day of two. If I’m right, the price of the Fannie Mae 6.0% 30-year mortgage-backed security will slide back toward 101.125. As long as the 101.125 price level is not breached on a closing basis during this retest – we’ll likely see additional mortgage market friendly price improvements into year-end.
From a timing perspective a major seasonal factor will be exerting a strong influence on the trend trajectory of the mortgage market from today through Friday, December 21st.
The mortgage market is at a critical juncture in terms of defining a sustained move into year-end – do not front-run my forecast. Be disciplined enough to wait for price and time to match-up before increasing your pipeline risk management positions.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, December 18, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices but approaching a technical area of very strong support.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.250.
As I write, the Fannie Mae 6.0% 30-year mortgage-backed security is staging a fairly strong “bounce” off of yesterday’s close at 100.906. Today’s trading action is consistent with my expectation (expressed here since last Friday) that we were approaching a price range of strong support defined by a high of 100.906 and a low of 100.468. Support in this context is defined as a price range where buyers have previously found value, entering the market in sufficient numbers to completely overwhelm sellers. As always, when there are more buyers than sellers in any market -- prices move higher – or “bounce”. In my opinion, a late “Santa Claus rally” to fractionally lower rates and higher prices will likely launch itself from this price range.
The probabilities are very high that we will see a test of buyers’ current convictions in the next day of two. If I’m right, the price of the Fannie Mae 6.0% 30-year mortgage-backed security will slide back toward 100.906. As long as the 100.906 price level is not breached on a closing basis during this retest – we’ll likely see additional mortgage market friendly price improvements into year-end.
Before you race out and start “floating” new incoming loans today bear-in-mind that should the near-term bottom of the support range be broken – in this case 100.875 – prices will probably keep dropping toward the next range of support that will not likely manifest itself until the Fannie 6.0% mortgage-backed security trades into the 100.000 to 99.563 range.
From a timing perspective a major seasonal factor will be exerting a strong influence on the trend trajectory of the mortgage market from Wednesday, December 19th through Friday, December 21st. If we’re going to get a “bounce” to higher prices and lower rates before the end of the year – I strongly suspect it will begin in this time frame.
The mortgage market is at a critical juncture in terms of defining a sustained move into year-end – do not front-run my forecast. Be disciplined enough to wait for price and time to match-up before increasing your pipeline risk management positions.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, December 17, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices but approaching a technical area of very strong support.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.375.
As I write, the Fannie Mae 6.0% 30-year mortgage-backed security is trading at the top end of a very strong band of support – defined at the upper level by a price of 100.906 and at the lower point by a price of 100.468. This is a well defined price range where buyers have previously found value, entering the market in sufficient numbers to completely overwhelm sellers. As always, when there are more buyers than sellers in any market -- prices move higher – or “bounce”. In my opinion, a late “Santa Claus rally” to fractionally lower rates and higher prices will likely launch itself from this price range.
Before you race out and start “floating” new incoming loans today bear-in-mind that should the bottom of the support range be broken – in this case 100.468 – prices are almost certain to keep dropping toward the next range of support that will not likely manifest itself until the Fannie 6.0% mortgage-backed security trades into the 100.000 to 99.563 range.
From a timing perspective a major seasonal factor will be exerting a strong influence on the trend trajectory of the mortgage market from Wednesday, December 19th through Friday, December 21st. If we’re going to get a “bounce” to higher prices and lower rates before the end of the year – I strongly suspect it will begin in this time frame.
The mortgage market is at a critical juncture in terms of defining a sustained move into year-end – do not front-run my forecast. Be disciplined enough to wait for price and time to match-up before increasing your pipeline risk management positions.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateFriday, December 14, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices but approaching a technical area of very strong support.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.375.
As I write, the Fannie Mae 6.0% 30-year mortgage-backed security is trading at the top end of a very strong band of support – defined at the upper level by a price of 100.906 and at the lower point by a price of 100.468. This is a well defined price range where buyers have previously found value, entering the market in sufficient numbers to completely overwhelm sellers. As always, when there are more buyers than sellers in any market -- prices move higher – or “bounce”. In my opinion, a late “Santa Claus rally” to fractionally lower rates and higher prices will likely launch itself from this price range.
Before you race out and start “floating” new incoming loans today bear-in-mind that should the bottom of the support range be broken – in this case 100.468 – prices are almost certain to keep dropping toward the next range of support that will not likely manifest itself until the Fannie 6.0% mortgage-backed security trades into the 100.000 to 99.563 range.
From a timing perspective a major seasonal factor will be exerting a strong influence on the trend trajectory of the mortgage market from Wednesday, December 19th through Friday, December 21st. If we’re going to get a “bounce” to higher prices and lower rates before the end of the year – I strongly suspect it will begin in this time frame.
The mortgage market is at a critical juncture in terms of defining a sustained move into year-end – do not front-run my forecast. Be disciplined enough to wait for price and time to match-up before increasing your pipeline risk management positions.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, December 13, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.375.
From a timing perspective a major seasonal factor will be exerting a strong influence on the trend trajectory of the mortgage market from Wednesday, December 19th through Friday, December 21st. The worst-case scenario here -- should rate sheet prices rally into this time period -- they’ll be vulnerable to a sell-off into year-end.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, December 12, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices. If a trend change to lower rates and higher prices develops I suggest you view it as a short-term phenomenon rather than a long-term sustainable trend change.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.281.
From a timing perspective a significant number of cycles are merging between today, December 12 and tomorrow, Thursday, December 13. Mortgage market volatility will likely be at its highest during this period of time. Uncertainty in the capital markets is extreme -- so let pipeline risk management decisions be determined by mortgage market price levels during this time frame.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, December 11, 2007UPDATE: As expected the Federal Open Market Committee voted to cut the fed fund rate by 25 basis points to 4.25%. Central bankers were a little wimpier with their discount rate cut – clipping the rate by 25 basis-points rather than the 50 basis points most analysts had anticipated.
The Committee only made a few noteworthy changes to their post-meeting statement. The Fed acknowledged that, “the deterioration in the financial markets has increased uncertainty surrounding the outlook for economic growth and inflation”. Policymakers went on to say, “The committee will continue to assess the effects of financial and other developments in economic prospects and will act as needed to foster price stability and future economic growth.”
No need to get out your secret decoder rings here – it’s all straightforward. The Fed has very clearly left the door wide open for future cuts in early 2008 if economic conditions warrant – and that’s sweet music to the ears of fixed-income investors. In my opinion this event should at worst be considered a mortgage market neutral development -- and at best it is supportive of steady to fractionally lower rates and modestly higher prices for at least a couple of days.
SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices. If a trend change to lower rates and higher prices develops I suggest you view it as a short-term phenomenon rather than a long-term sustainable trend change.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.281.
From a timing perspective the likelihood of a counter-trend rally lasting two or three days will be strongest on Wednesday, December 12 and Thursday, December 13. Don’t try to float loans into this forecast – make pipeline risk management decisions predicated on mortgage market price levels once this time frame is reached.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, December 11, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices. If a trend change to lower rates and higher prices develops I suggest you view it as a short-term phenomenon rather than a long-term sustainable trend change.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.281.
From a timing perspective the likelihood of a counter-trend rally lasting two or three days will be strongest on Wednesday, December 12 and Thursday, December 13. Don’t try to float loans into this forecast – make pipeline risk management decisions predicated on mortgage market price levels once this time frame is reached.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, December 10, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.281.
From a timing perspective the likelihood of a counter-trend rally lasting two or three days will be strongest on Wednesday, December 12 and Thursday, December 13. Don’t try to float loans into this forecast – make pipeline risk management decisions predicated on mortgage market price levels once this time frame is reached.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateFriday, December 7, 2007SHORT-TERM TREND (20 days or less) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid “floating” loans in this category until/unless the price of the Fannie Mae 6.0% mortgage-backed security can generate the momentum to close above 101.531.
From a timing perspective the likelihood of a counter-trend rally lasting two or three days will be strongest on Wednesday, December 12 and Thursday, December 13. Don’t try to float loans into this forecast – make pipeline risk management decisions once this time frame is reached.
LONG-TERM TREND (21 days or more) Favors higher rates and lower prices.
SUGGESTED PIPELINE STRATEGY: Avoid initiating new “floating” loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security closes above the 101.343 price level.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateThursday, December 6, 2007SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but showing preliminary signs a potential shift in direction may be imminent.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert “floating” loans in this category to “locked” should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.531.
From a timing perspective a number of short and intermediate term cycles are converging between today and Monday, December 10th. The potential for noticeably stronger price volatility will be highest during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: I strongly suggest you give every consideration to “floating” new loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security falls below the 101.343 price level on a downward closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateWednesday, December 5, 2007SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices but showing preliminary signs a potential shift in direction may be imminent.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert “floating” loans in this category to “locked” should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.531.
From a timing perspective a number of short and intermediate term cycles are converging between today and Monday, December 10th. The potential for a trend change lasting several days or more will be highest during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: I strongly suggest you give every consideration to “floating” new loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security falls below the 101.343 price level on a downward closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateTuesday, December 4, 2007SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert “floating” loans in this category to “locked” should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.531.
From a timing perspective a number of short and intermediate term cycles will be converging between Tuesday, December 4th and Monday, December 10th. The potential for a trend change lasting several days or more will be highest during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: I strongly suggest you give every consideration to “floating” new loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security falls below the 101.343 price level on a downward closing basis.
Posted By Larry Baer, Market AlertDaily Mortgage Market UpdateMonday, December 3, 2007SHORT-TERM TREND (20 days or less) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: Be prepared to immediately convert "floating" loans in this category to "locked" should the price of the Fannie Mae 6.0% mortgage-backed security fall below 101.531.
From a timing perspective a number of short and intermediate term cycles will be converging between Tuesday, December 4th and Monday, December 10th. The potential for a trend change lasting several days or more will be highest during this period of time.
LONG-TERM TREND (21 days or more) Favors lower rates and higher prices.
SUGGESTED PIPELINE STRATEGY: I strongly suggest you give every consideration to "floating" new loan positions in this category until/unless the price of the Fannie Mae 6.0% 30-year mortgage-backed security falls below the 101.343 price level on a downward closing basis.
Posted By Larry Baer, Market Alert