Category — Mortgage Rates
What Mortgage Rates Are up to This Week
Monday saw a selloff of Mortgage Backed Securities and U.S. Treasuries due to positive manufacturing data that was reported. This resulted in an increase in the mortgage rates compared to the drop in rates that occurred last Friday.
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August 4, 2009 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Mortgage Rates Drop below the 5% Mark and Then Pop Right Back Up Again
Early last week, after a major rally in the mortgage backed securities market, mortgage rates dropped below the 5 percent mark. Within a few days, the price of mortgage backed securities took the plunge, which sent mortgage lenders into a scrambling panic to re-price. This brought mortgages rates up above the 5 percent mark—moving the 30 year fixed rate mortgage to a rate of about 5.25%.
So what caused this bump up in rates?
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July 30, 2009 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
Unemployment Rate Up, Mortgage Rates Down
Since this month hasn’t quite come to an end, the unemployment numbers aren’t in yet, but the Wall Street Journal is already reporting that the unemployment rate is expected to hit the double digits. The rate in May of 2009 marked a 26-year high at 9.4 percent of Americans jobless. With General Motors (GM) and other major corporations calling it quits, jobs lost in June reached upward from the May figure to 467,000, which shot the unemployment rate up to 9.5%. In light of a declining economy and job loss, there is a light at the end of the tunnel because interest rates have dropped once again in an effort to stimulate the economy.
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July 16, 2009 Steve SchraderBachar is a local mortgage planning expert who resides in Iowa and provides service to the clients of his mortgage planning practice across the Midwest. You can reach Steve at 1-515-289-4381 or 515-360-5197.
