Mortgage Rates Flat at the Start of a Big Week for Rates

By:: Paul King | January 28, 2008

Mortgage markets were unchanged this morning even though we a huge decline in sales of new construction. Rates may improved this AM by up to .375 to the points as a result of strength late Friday. There was a 4.7% decline in New Home Sales from December, much larger than expected. Overall for the year New Home Sales recorded the biggest annual drop for the year 2007 since 1963. Extending this decline into January 2008 suggests that we've not yet hit the bottom. In addition to the FOMC meeting this week, there are many reports due out and we should be in for a very important week for mortgage rates. Tomorrow we have December's Durable Goods Orders, measuring manufacturing strength, Wed we have the GDP, and Friday the Employment and ISM reports. There is potential for big volatility any day this week.

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Mortgage Rates Operating in Unprecedented Environment

By:: Bill Rice - MortgageLoan.com | October 10, 2008

Mortgage rates are now officially operating in a historically unprecedented environment. This would trigger broad, cautious counsel to lock rates. Although we have seen steady downward pressure on mortgage rates throughout the week yesterday sparked an unusual effect in the bond markets.