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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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Week of 11/16/09 MMG Week in Review

16 November 2009

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      Just when you think the bond market and, consequently, mortgage interest rates would have a quiet week, it wasn’t meant to be. Though there were few economic reports released, by the time we got to the auctioning of the longer term bonds, the market got nervous. The bond market did some bouncing up and down. This resulted [...]

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Week of 10/26/09 MMG Week in Review

26 October 2009

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      What a week this was! Producer Price Index came in lower than expected as did Housing Stats and Building Permits. But Existing Homes Sales and Existing Housing inventories came in above expectations. Even more interesting was that 45% of those Existing Home Sales numbers were First Time Homebuyers!       An interesting piece of news [...]

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Week of 10/12/09 MMG Week in Review

12 October 2009

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      Mortgage interest rates have about bottomed out. Though we may see a dip for a day or two, interest rates will start to go up. Bernanke and Company have indicated this after their last meeting in which they have extended their purchasing of mortgage backed securities, they will not up the total dollar amount [...]

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FOMC

24 September 2009

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     Yesterday, Ben Bernanke and Company ended their two day meeting. At the end of this meeting as with all of them, they issue a  brief “statement” on how they feel the economy is doing, whether or not to raise their Fed Fund Rate, and/or other monetary policies they are implementing.       The biggest news from this meeting was [...]

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Week of 9/14/09 MMG Week in Review

14 September 2009

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      This past week the bond market held its own which resulted in lower mortgage interest rates. The market was helped by the healthy Treasury auctions of the 3 year, 10 year, and 30 year along with the Federal government continued program of purchasing mortgage-backed securities.      This coming week, the majority of the economic reports will be on Tuesday through [...]

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Week of 08/31/09 MMG Week in Review

31 August 2009

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      Last week brought good news for the housing industry. Home prices rose for a second straight month, new home sales surged 9.6%, and  inventories drop from 8.8 month supply to 7.5 months. To help all of this, remember, mortgage interest rates are still at historical lows.       The economy is turning. But this week will be [...]

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