30-Year Mortgage Rates Make New Lows, But Look Ready To Spike
No doubt you’ve heard that mortgage rates are low. They’re lower than they’ve ever been in history. The news is everywhere. But the low rate environment looks like it’s ending.
Falling Consumer Confidence Helps Drag Mortgage Rates Lower. For Now.
For the second consecutive month, U.S. consumer confidence is plunging. July’s official reading is its lowest since July of last year and the figures run in stark contrast to just two months ago, when the index touched a multi-year high.
Case-Shiller Shows Home Price Improvement In 95% Of Cities
Standard & Poors released its Case-Shiller Index Tuesday. On a seasonally-adjusted basis, between April and May 2010, home prices rose in 19 of Case-Shiller’s 20 tracked markets. It’s the second straight month of strong Case-Shiller findings.
New Homes Sales Gain in June, But Gains Are Relative
June’s New Home Sales data is a major improvement over May, but gains are relative. It’s possible that the true “new home market” may be softer than the statistics suggest.
What’s Ahead For Mortgage Rates This Week : July 26, 2010
Mortgage rates rose last week, but only slightly. Rate are still hovering near their lowest levels of all-time.
Yes, You Can Still Get A Mortgage If You’re Pregnant
The New York Times ran an important story this week concerning pregnancy and mortgage approvals. Titled “Need a Mortgage? Don’t Get Pregnant”, the article discussed the difficulties that expecting and recently-expanded families are having with their mortgage financing.
Sagging Homebuilder Confidence Opens The Door For Good Deals
Remember, it wasn’t too long ago that most builders were flush with home inventory, unable to find willing buyers. To help move product at that time, builders dropped prices and offered incentives including free upgrades. If confidence continues to sag going forward, home purchase deals of that nature may return — especially as the foreclosure market gets larger.
What’s Ahead For Mortgage Rates This Week : July 19, 2010
Mortgage rates are artificially right now so even the slightest jolt could cause them to spike. It would be similar to what happened in June 2009 when rates rose 1.125% in just 10 days’ time. Therefore, if you’re shopping for a mortgage and like the rate you’ve been quoted, consider locking in as soon as possible.
The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode
At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.
Foreclosure Activity Slows Again In June 2010
June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.