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Mortgage Interest Rates-What to Expect in 2010

5 January 2010

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      As we start 2010, there has been a lot of talk about mortgage interest rates. Will they stay around 5.0%, be a tad higher, will they go up past 6.0% or even higher than that?       Let’s look at what is keeping mortgage interest rates at these historic lows. When the credit crisis exploded on to the [...]

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Week of 12/21/09 MMG Week in Review

27 December 2009

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     What a busy week we had in economic reports and the FOMC Policy Statement! But it was the FOMC Policy Statement that we must take a closer look at. The Fed has stated that it will not extend their purchasing of Mortgage Backed Securities. This is important to note as as the Fed winds [...]

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FOMC Meeting’s Policy Statement (12/15-12/16/09)

16 December 2009

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      After almost two days of the media, news pundits, and economists all weighing in what the Fed will do, the Fed left their short term, Fed Fund Rate, the same.       On the housing side, the Fed stated: “The housing sector has shown some signs of improvement over recent months. Household spending appears to be [...]

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Producer Price Index

15 December 2009

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       This morning, the Producer Price Index (PPI) came out a lot hotter than expected at 1.8% compared to the expected of 0.8%. This hotter than expected number was due to higher energy costs. Even when you strip away those energy costs and the cost of  food, the Core PPI was still higher than expected at 0.5%. This is in comparison [...]

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Week of 12/14/09 MMG Week in Review

14 December 2009

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     If last week was a slow economic reporting week, this upcoming week will be one full of all sorts of economic releases.      Let’s do a quick re-cap of last week. The Treasury auction didn’t do well. There was too much supply of not only Treasury notes but Mortgage-Backed Securities being auctioned off. And [...]

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Treasury, Retail Sales, Jobs, Consumer Sentiment, & FOMC Meeting

12 December 2009

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       For a slow economic reporting week, this past week saw mortgage interest rates, though still low, start a slow upward climb. What is causing this to happen?       First was the Treasury auctions of 3-year, 10-year and then the 30-year notes. The longer term notes/bonds were not well received. The Treasury has been auctioning billions of [...]

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Week of 11/30/09 MMG Week in Review

30 November 2009

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      Last week was a short week with the bond market closed for Thanksgiving as well as shorten days on both Wednesday and Friday. With the shorten week, the market was busy with the various economic reports being released as well as 3 Treasury auctions and the Federal Open Market Committee releasing their last meeting’s [...]

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