Rates Continue Their Descent

Rates continued their descent today despite stronger than expected economic reports. The stock market is also down today which has helped bonds improve and rates drop. Expect a .375 improvement to the points today. January Personal Income and Outlays report came in stronger than expected with an increase of income and spending. University of Michgan reported their February revision to the Index of Consumer Sentiment. The revision was higher than expected. Both reports however did not influence rates, where they normally would have had a negative impact. Next week we'll see the ISM manufacturing index but most importantly the Employment report for February next Friday.

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Mortgage Rates Will Move

Expect significant mortgage rate movement today with the release of CPI.

Mortgage Rates Drop

Mortgage rates drop again for the second straight week.

TARP Redirect Plunges MBS

US Treasury Secretary Paulson's sharp redirection on the objective of the TARP funds had a dramatic effect on overnight markets and the MBS market.

Veterans Day-Markets Closed

Mortgage rates stay flat on Monday and markets are closed today for Veteran's Day.

Mortgage Rates Fall for Week

Mortgage rates continue to fall, but rising unemployment and tightening lending standards are forcing borrowers to stay on the sidelines.

Mortgage Rates Back Down

30 year fixed rate mortgage is back down to 6 percent.

Mortgage Rate Watch

Yesterday was a good day for mortgage rates as they eased on the eve of Presidential election finality. However, today is likely to be a mortgage market referendum on President-elect Barack Obama.

Choppy Waters for Mortgage Rates

Not a lot of mortgage rate impacting news this week, but Presidential elections always do surprising things to markets.

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National Rates

Loan Type Today
30 Year Fixed   5.62
15 Year Fixed   5.47
5/1 Adjustable   5.85

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