Market recap for week ending 11/09/2012
Updated Oct. 9, 2013
The big event this week was the election on Tuesday. On Monday the market were quiet, but on Tuesday we saw a spike in interest rates on rumors that Romney was going to win the election. On Wednesday after it was confirmed that Obama won we saw a drop in rates that cancelled out Tuesday spike and then some. There are two...

Why Apple's sales can affect your Mortgage rate
Updated Oct. 9, 2013
In this article I wanted to take some time to educate you on what drives mortgage rates. Most home owners will hear on the news that rates have gone up or down, but have no clue why, and will act accordingly. Armed with some knowledge you will better understand what causes the rates to change and how to interpret the...

Market recap for week ending 11/16/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are less than 1/8th of a percent higher than they were last Friday.. With the election over now the focus has turned to the approaching Fiscal Cliff and Europe's debt problem. All of the Bush tax cuts are set to expire at the end of year unless Democrats and...

Market recap for week ending 11/23/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are less than 1/8th of a percent higher than they were last Friday.. This week was a short week with Thanksgiving on Thursday and lack Friday today. Yesterday the markets were closed and today was a half day. Many traders left early on Wednesday and are not returning...

Market recap for week ending 11/30/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are almost 1/8th of a percent lower than they were last Friday.. This week was dominated by news about the Fiscal Cliff and the Europe debt crisis. Politicians still can't come to an agreement about how to avoid the approaching Fiscal Cliff when the all of the...

Market recap for week ending 12/07/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are at the same level they were at last Friday. This week was dominated by news about the Fiscal Cliff and the Europe debt crisis. Politicians still can't come to an agreement about how to avoid the approaching Fiscal Cliff when the all of the Bush tax cuts are...

Market recap for week ending 12/14/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are a little less than 1/8th of a percent higher than they were last Friday.. Once again this week was dominated by news about the Fiscal Cliff. Despite 3 meetings at the white house between Obama and Republican leader Boehner politicians still can't come to...

Market recap for week ending 12/21/2012
Updated Oct. 9, 2013
As far as civilization is concerned the Mayans appear to be wrong;. we are still here. As far as the fiscal Cliff is concerned the Mayans may havegot it right.Last night the Republican controlled House couldn't even getenough Republicans to pass the Boehner Plan B that would have increased taxeson those...

Market recap for week ending 12/28/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are a little less than 1/8th of a percent lower than they were last Friday.. This was a short weeks as Monday was Christmas Eve and Tuesday Christmas Day. This week's focus was on the approaching Fiscal Cliff coming up Tuesday. Our leaders in Washington have...

Market recap for week ending 1/04/2012
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are almost 1/4th of a percent higher than they were last Friday.. This was a short week again as Tuesday was New Year's Day. Our leaders in Washington waited till the last possible minute, but were able to come to an agreement to avoid going over the Fiscal...

Market recap for week ending 01/11/2013
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are almost 1/8th of a percent lower than they were last Friday.. This week kicked off earning season for US public companies. On Tuesday after the market closed companies started reporting their Q4 earnings. Reporting was mixed with some companies beating...

Market recap for week ending 01/18/2013
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are almost unchanged from last Friday.. During the early part of the week rates were slowly drifting lower, but yesterday they went back up. The reason for the spike yesterday was a better than expected unemployment claims report. As mentioned above even though...

Market recap for week ending 01/25/2013
Updated Oct. 9, 2013
At the time I am writing this mortgage interest rates are almost unchanged from last Friday, although we might see a re-price for the worse this afternoon.. Yesterday afternoon and this morning we saw a big sell off in the mortgage bond market. The main fuel behind this sell off was optimism in Europe. Part of the...

Market recap for week ending 02/01/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are less than 1/8th lower than they were last Friday.. Most of the week interest rates were on the climb mainly due to stronger than expected economic reports. Data is starting to show that US economy is recovering and that will always be bad news for rates. The...

Market recap for week ending 02/08/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are less than 1/8th higher than they were last Friday.. This week was a quite week in terms of economic reports and news out of Washington and Europe. With not much to move markets they stay relatively calm all week. The December trade deficit report came out today...

Market recap for week ending 02/22/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are less than 1/8th lower than they were last Friday.. Both the 10 year Treasury bond and mortgage bonds continue to be contained in a narrow range. With the Federal Reserve(FED) still committed to buying large quantities of bonds through their quantitative...

Market recap for week ending 03/1/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are almost 1/8th lower than they were last Friday.. This week mortgage bonds broken out of the tight range they have been trading in. On Monday we saw a sharp selloff in the stock market which drove mortgage rates down. This sell off was sparked by negative news out...

Market recap for week ending 03/8/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are almost 1/4th of a percent higher than they were last Friday.. On Tuesday the Dow Jones Industrial stock index broke through its all-time high set back in 2007.This is bad news for interest rates, because it shows investors are confident in our economic...

Market recap for week ending 03/15/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are less than 1/8th of a percent lower than they were last Friday.. More positive economic news this week, putting upward pressure on interest rates. On Wednesday the February retail sales report was released and it came in better than expected. The fact that...

Market recap for week ending 03/21/2013
Updated Oct. 9, 2013
At the time I am writing this, mortgage interest rates are less than 1/8th of a percent lower than they were last Friday.. The Euro zone is back center stage in the news this week. On Monday it was announced that Cyprus has asked from more emergency funding from the European Central Bank (ECB). The ECB is requiring that...