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When employment reports show an improvement in the labor picture, it tends to have an effect on mortgage rates since the implication is that more people will have income to buy homes. As a result, when various economic data reports … Continue Reading
Given that Monday was a holiday for Martin Luther King, Jr.’s birthday, the markets were closed and the falldown from the end of last week wasn’t followed up right away. Instead, everyone got a little bit of extra time to … Continue Reading
Mortgage rates finally realized the spike that so many had been waiting for through December and the beginning of January, moving upward Thursday to place the 30-year fixed rate at 3.5 percent, a significant move from the 3.375 percent pattern … Continue Reading
For the first day of the 2nd week of January, mortgage-based securities were waffling for the morning in sideways directions. In most cases, there has been solid resistance to rates of return going higher on securities, so there was minor … Continue Reading
Some market watchers may have expected further mortgage rate movement in the second week of January 2013, but instead the averages slowly floated downward a bit. Despite U.S. Treasuries suffering their own weaknesses as well as the bond market in … Continue Reading
While the federal budget Fiscal Cliff discussions and political posturing in Washington D.C. dominated the financial news headlines on the day before New Year’s, the financial markets decided to be in a cheery mood rather than submit to depression. Given … Continue Reading
Opening up the first full week of December, mortgage rates drooped Monday morning but regained ground by the end of the day to match Friday’s close. Overseas market plays and movement caused stocks to go higher in Asian markets and … Continue Reading