… Freddie Mac began tracking rates in 1971. The average rate on 15-year fixed loan dropped to 3.86% from 3.90%. That’s the lowest on records starting in 1991. Average rates on five-year adjustable-rate mortgages …
Triple-digit foreclosures remain the norm in St. Clair and Madison counties as 273 homeowners filed for foreclosure in both counties last month. The 143 foreclosure filings in Madison County and 130 who …
Van Hollen … distressed homeowners in Wisconsin under the guise that it was part of a federal program, despite having no affiliation with the federal government. The company informed homeowners that attorneys would …
a spokeswoman for the ownership group that includes Shubh Hotels Pittsburgh LLC and Black Diamond Hospitality LLC … Hilton Hotels & Resorts on Thursday pulled the franchise license for the hotel after more than 51 …
… market, a senior Obama administration official hinted on Wednesday … which runs the S&P/Case-Shiller Home Price Index Futures market, the market the administration uses as its benchmark. Last year there were …
… Eric Rosengren, president of the Federal Reserve Bank of Boston, at a Fed conference in Washington about neighborhood … My own view is that too little focus has been on community problems because the focus has …
Posted To: <a href="http://www.mortgagenewsdaily.com/consumer_rates/”>mortgage Rate Watch
It is the first Friday of the month and that brings us the official government report on the labor market: The Employment Situation Report. This release provides four headline measures on the health of the jobs sector. Nonfarm Payrolls: totals the number of jobs that were added to or cut from employer payrolls in the prior month. Consensus Forecast: -100,000 vs. -131,000 in July (Private payrolls increased 71,000 in July and +41,000 expected today) Unemployment Rate: the percentage of working-age, mentally able-Americans who are jobless. Consensus Forecast: 9.6% of the labor force vs. 9.5% last month Average Hourly Earnings: the average amount of earnings per hour of labor performed. Consensus Forecast: +0.1% vs. +0.2% last month. Average Work Week: average amount of hours worked by an employee…(<a href="http://www.mortgagenewsdaily.com/consumer_rates/170314.aspx”>read more)
Posted To: <a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/”>MBS Commentary
NFP has come and gone, let’s see where things stand…. The October delivery FNCL 4.0 is -0-09 at 102-15. In the chart below I called attention to a few technical inflection points. The ascending trend channel that helped mortgage rates hit new lows on Wednesday has broken down and FNCL 4.0s have made their way back into the range that moderated price action for the majority of August. The falling knife found support and bounced higher directly in the middle of that range. 10s flagged lower for the entire month of August (all summer really) and are now flagging higher. The 2.625% coupon bearing 10 year TSY note is off its session price lows (98-24) at 99-07 yielding 2.715% (+8.8bps). 10s are the worst spot on the curve followed by 7s (+8.6bps) and the long bond (+7.6bps). Volume was heavy into…(<a href="http://www.mortgagenewsdaily.com/mortgage_rates/blog/170362.aspx”>read more)
Lansing — If Virg Bernero is elected governor, Michigan will pull its money out of Wall Street banks that won’t work with the state’s businesses and residents, the Democratic nominee announced today. “We …
Five years ago, one of the most destructive natural disasters in our nation’s history hit the Gulf Coast. When they hit the coasts of Louisiana and Mississippi, Hurricanes Katrina and Rita took thousands of lives, displaced millions of residents, wiped out hundreds of square miles of coastal land, and inflicted major damage to nearly 300,000 homes.
