Bonds Increase, Fannie Mae Lending Power Enhanced

Treasury bonds increased further today, on rebounding stocks. Fannie Mae the largest US Mortgage company, posted a larger than expected quarterly loss. At the same time, the Office of Federal Housing Enterprise Oversight said it would decrease the amount of capital that the agency must have on hand to buy and guarantee mortgages, thus extending its authority to buy more loans and brining further liquidity to the mortgage market.

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30 Year Mortgage Rate Lowest in 6 Weeks

The 30-year fixed mortgage rate continues to decline slightly everyday. Currently, it has reached its lowest level in 6 weeks and is lower than the same time last year.

Mortgage Rates Continue Fall

Mortgage rates continue to fall slightly, but don't expected it to be the long-term trend.

FOMC Minutes

The recently released FOMC Minutes reflect a general consensus that inflation is the primary Fed concern.

Existing Home Sales Up

The National Association of Realtors report that existing home sales climbed in July, exceeding expectations.

Bernanke Speaks Today

A full agenda of challenges greets the Federal Reserve governors at there annual Jackson Hole, Wyoming symposium.

Bernanke:Inflation Uncertain

Bernanke assures market the Fed will "act as necessary."

Mortgage Rates Decline, but...

Mortgage rates continue to show slight declines, but look at it as a temporary trend or if you are a borrower a fleeting opportunity.

Mortgage Rates Stagnate

Mortgage rates continued to hold steady yesterday despite the expected report of steep declines in housing starts.

National Rates

Loan Type Today
30 Year Fixed   6.06
15 Year Fixed   5.72
5/1 Adjustable   5.78

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