Monthly Archives: November 2009

Mortgage markets improved last week on stronger-than-expected economic data and safe haven buying. The holiday-shortened trading week amplified what should have been modest gains into large ones. Conforming mortgage rates dropped by about a quarter-percent last week, dropping them near … Continue reading →

Home affordability improved this week after the Federal Reserve released its November 3-4, 2009 meeting minutes. The FOMC Minutes is a companion to the Federal Reserve’s post-meeting press release. It’s released 3 weeks after the Fed adjourns and details the … Continue reading →

It’s official — home prices are no longer in free fall. According to the Federal Housing Finance Agency, the Home Price Index posted its first quarterly increase since 2007 last quarter. The news was reported Tuesday. The Home Price Index … Continue reading →

Another month, another piece of evidence that the housing market is in recovery. Existing Home Sales surged in October as the nation’s homebuyers took advantage of low mortgage rates, low list prices, and, for some, a generous tax credit. Home … Continue reading →

Mortgage markets worsened last week on a mixed bag of economic data. Inflation data came in soft, but so did the start of the holiday shopping season. For the first time in a month, mortgage rates worsened last week, adding … Continue reading →

For today’s home buyers and homeowners that can manage the higher monthly payments, 15-year fixed rate mortgage rates look attractive as compared to comparable 30-year products. The 15-year/30-year interest rate spread is near its 5-year high. Despite lower rates, however, … Continue reading →

A “Housing Start” is a home on which construction has started and, for the 4th straight month, national single-family housing starts held steady last month. When the demand for homes grows faster than the number of homes for sale, prices … Continue reading →

A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac. Each year, the government sets the maximum allowable loan size for a conforming mortgage, based on “typical” housing costs … Continue reading →

APR is an acronym for Annual Percentage Rate. It’s a government-mandated calculation meant to simplify the comparison of mortgage options. A loan’s APR can always be found in the top-left corner of the Federal Truth-In-Lending Disclosure. Because APR is expressed … Continue reading →

Mortgage markets improved last week as foreign buyers of mortgage debt helped to push mortgage rates to a 4-week low. It marked the 3rd consecutive week that rates improved, breathing extra life into this year’s ongoing Refi Boom. Fixed-rate, conforming … Continue reading →