Pushed by Treasuries, Mortgage Rates Jump

By Mike Colpitts Pushed by higher yields paid for U.S. Treasuries, mortgage rates jumped for the fourth straight week as mixed economic news sent investors scurrying to the bond market for more secure investments. The rate on the fixed 30-year mortgage rose four basis points to average 3.66% from 3.62% a week ago. The Freddie… Continue reading Pushed by Treasuries, Mortgage Rates Jump

Refinancing Bombs as Mortgage Rates Soar

By Ryan Jackson After record all-time mortgage rates triggered a refinancing frenzy, applying for lower rate home mortgages dropped like a bomb last week as rates soared to the highest levels in weeks. The Mortgage Bankers Association refinancing index dropped 9% to lead the summer slowdown. The seasonally adjusted purchase index fell under just one-percent… Continue reading Refinancing Bombs as Mortgage Rates Soar

Mortgage Rate Hike Threatens Housing Recovery

By Mike Colpitts For the first time in more than a year, mortgage rates have risen three straight weeks as growing instability over the  U.S.  economy jittered bond markets. U.S. Treasuries rose from a record low of 1.38% on the benchmark 10-year bond to more than 1.85%. The increased yield is good news for investors… Continue reading Mortgage Rate Hike Threatens Housing Recovery

Mortgages Drop as Loan Interest Ebbs

By Mike Colpitts Mortgage activity dropped for the second week in a row as mortgage rates rose driven by a strong hike in U.S. Treasury yields. Bond rates have been rising for one straight week, pushing mortgage rates higher. The Mortgage Bankers Association market composite index on loan applications fell 4.5% on a seasonally adjusted… Continue reading Mortgages Drop as Loan Interest Ebbs

Underwater Refinancing Program to Expand

By Ryan Jackson A larger number of underwater homeowners with mortgages hoping to take advantage of all-time record low mortgage rates may be able to refinance under a program that is scheduled to be expanded by the U.S. government. An estimated 1.3 million homeowners have already refinanced through the government’s Relief Refinance Mortgage Program, which… Continue reading Underwater Refinancing Program to Expand

Decline in Economic Uncertainty Triggers Mortgage Rates Jump

By Mike Colpitts Mortgage rates jumped for the first time in weeks as tensions over the Eurozone debt crisis and worries over the U.S. economy declined. The 30-year fixed rate mortgage averaged 3.55%, a jump from 3.49% a week ago. The 15-year fixed loan also moved higher. The 5-year Treasury indexed hybrid adjustable rate mortgage… Continue reading Decline in Economic Uncertainty Triggers Mortgage Rates Jump

Strong Majority Say Home Values Will Inflate

The U.S. housing market is in for a healthy recovery, according to a new survey. A strong majority of consumers polled say they expect home values in all U.S. cities to inflate. Sixty-one percent of those surveyed said that home prices will inflate, despite the economic issues that face the U.S. economy and the real… Continue reading Strong Majority Say Home Values Will Inflate