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Mortgage and Lending - Chase
RECENT BLOG POSTS
Long-term rates are holding lows nicely, the 10-year T-note near 3.20%, and lowest-fee mortgages just under 5.00%.     New data tilts to slowdown. The Philly Fed index surprised on the downside, half its forecast; new unemployment claims rose (might be BPs gift to the Gulf); single-family housing...
06/18/2010
Today's payroll flop -- only 20,000 real jobs created in May -- will take some time to settle all the way in. Immediately: 10-year T-notes are 3.22% (from 3.36% yesterday and 3.99% six weeks ago), and mortgages below 5.00%.The payroll report has confirmation: new unemployment has held high for fi...
06/06/2010
Long-term rates have stayed down despite a good run of economic data, Europe still the driver in all markets. The flight has pushed the 10-year T-note back down to 3.42%, but it is limited to Treasurys; mortgages are relatively steady near 5.00%.     The news here is distinctly better, but the im...
05/16/2010
Explosions What is striking me between the eyes as we dive into yet another week of potential financial surprises is that, somewhere in the recent past, I assured my readers (or reader, as the case may be) that further declines for interest rates did not seem at all likely. Nice guess, Bozo. The ...
05/11/2010
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Hurdles The $8,000 and $6,500 homebuyer tax credits went out-to use poet T.S. Elliot's phrase-not with a bang but with a whimper. The applications index for purchase money mortgages managed to climb to 257, thankfully, but if you look at the history of this Mortgage Bankers Association index, you...
05/03/2010
Long-term rates -- the ones guaranteed to rise -- fell again. The 10-year T-note made it briefly to 3.73%, and to 5.00% before rising a bit yesterday.     The action was largely due to Greek default, the possibility of a failed bailout (see Fannie and Freddie and "Paulson's Bazooka", the dud in s...
04/25/2010
Mortgage and long-term Treasury rates are falling suddenly today, as the SEC's fraud charge against Goldman Sachs is tanking the stock market. The 10-year T-note has broken below recent 3.80% resistance to 3.77%, mortgages headed toward 5.00%.     Interpreting new economic data is trickier than ...
04/16/2010
Just when everyone was certain that long term rates would rise, they fell. Wednesday's 10-year T-note auction drew more bidders than any since '94, and its yield thumped down from near 4.00% to 3.85%, mortgages back down to 5.125%. The improvement is gradually reversing, but for the moment we're ...
04/11/2010
A pleasant surprise in March hiring has pushed up all long-term rates: 10-year Treasurys to 3.94%, and mortgages to 5.25%.      Even better news than the jobs: rates could have gone a great deal higher. Other new data this week were as positive as employment: the ISM survey of manufacturing in Ma...
04/03/2010
In an odd leap, long-term Treasury yields blew up, Wednesday the worst single day in nine months. The 10-year T-note stopped at 3.88%, a level touched for the fifth time since last June, but the violence of this move threatens upward breakout. Meanwhile, mortgages held fairly well, inside the 5.2...
03/26/2010
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