At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.
June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.
Conforming mortgage rates may be posting all-time lows this week, but that doesn’t mean you’ll be eligible for them. You may have already called your loan officer and found this out the hard way. It’s because of a federally-mandated mortgage-pricing scheme known as “loan-level pricing adjustments”.
If your adjustable rate mortgage is due to adjust this year, don’t go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.
Mortgage rates have fallen in 4 consecutive weeks and are on an extended rally that dates back to mid-April. This week, however, data returns and rates could reverse. Especially with inflation numbers are in play.
Last week, the Case-Shiller Index reported home values up 0.8 percent across 20 tracked markets. The public-sector Federal Housing Finance Agency has reached a similar conclusion.
Morning television can be “light”, but as far as personal finance interviews go, this Suze Orman segment from The Today Show is loaded with practical financial planning advice.
At first glance, the June jobs report looks weak but a deeper look shows something different.
Last week — again — mortgage rates improved and Freddie Mac is now reporting new all-time lows on three popular, conforming loan products. Here’s what’s in store for *this* week.
On the surface, May’s Pending Home Sales Index looks terrible for housing. And, if you’re a seller, it just might be. But, if you’re a buyer, the story reads differently. Just consider the market conditions.
