May 1st, 2013
Mortgage Rates Improve Following Employment Data And FOMC
Mortgage rates kept falling today, further extending the run into the lowest rates of 2013, but not quite in all-time low territory yet. Much of today's improvement was a factor of the morning's employment data from ADP--seen as forward indicator of Friday's official Employment Situation Report. Bond markets, including the mortgage-backed-securities (MBS) that underpin mortgage rates, began improving at a solid pace well before rate sheets came out. The remaining economic data either "didn't hurt" or flat-out helped rates keep dropping ahead of the day's main event, The FOMC Announcement.
As it happens, the FOMC didn't change much from the previous statement. Bond markets backed down from their aggressive rally, raising the risk that lenders might hike rates in the afternoon, but trading levels stabilized and most lenders remain at morning levels or better. Today's move now brings 3.375% definitively into the fold as--at the very least--an equal partner to 3.5%. Lower rates make an increasing amount of sense as the costs associated with the lowest rates have benefited the most from recent movement
4/3/2013 - Mortgage Rates hit recent month's lows- time to lock?
Apr 3 2013, 3:32PM
Mortgage rates improved at their fastest pace in a week, bringing most lenders' rate sheet offerings to their best levels since the first few days of March. In a continued break from recent tradition, markets largely ignored the European trading overnight and instead took cues from domestic data. In this regard, a softer than expected read on employment marked the jumping off point for a healthy rally in bond markets. Bond markets include MBS, the mortgage backed securities that most directly influence mortgage rates, and when prices improve, consumer borrowing rates decline.
1/13/2013- - Already At All-Time Lows, Mortgage Rates Continue Lower At Unprecedented Pace! Please inquire how much you can save on your mortgage payment. HARP2.0, DU Refi plus loans, no equity required!
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