what are mortgage rates: Mortgage Rate Update for May 28th
- 05/28/08 01:58 AM
Durable goods orders were released this morning for April coming in better than expected at -0.5%. The estimate was -1.5%. Durable goods are manufacturing goods that are expect to last at least three years. Usually a better than expected number means that companies are spending extra capital on equipment for future growth and the economy will be doing better down the road while inflation could be reduced. However the March number of a growth of 0.1% was revised downward to -0.3% which the mortgage bond market is not taking well. Bonds are down 31 bps after bouncing off their lows of 50 bps at the … (1 comments)
what are mortgage rates: Rates, rates, rates what is going on with rates?
- 02/26/08 04:16 AM
Let's just throw out the adjustable rates for now, clients are scared, and no one wants them fixed rates are usually a better or very close the same rate anyway, except for maybe the 3/1 ARM because of the inverted or flat yield curve(what ever those are) so I won't speak of them. How are mortgage rates determined? From Mortgage Backed Securities or Mortgage Bonds NOT the 10 year treasury note like many believe. Rates are way off their lows of month ago right around 6.25% -6.375% for a 60 day lock today 2.26.08 as of 1:10pm EST on 30 year conforming (that is below $417,000 in most areas). They did … (16 comments)
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