Mortgage markets improved last week in response to mostly negative data about the U.S. economy, and the Federal Reserve's acknowledgement that Eurozone financial ills could cross the Atlantic. Conforming and FHA mortgage rates fell last week, extending a rate rally that dates to early-April. Mor
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06/28/2010
Mortgage markets improved last week on weaker-than-expected jobless figures, ongoing troubles in Europe, and a tame reading on domestic inflation. As a result, conforming mortgage rates for Michigan fell last week, drawing loads of new refinance applications. For a brief moment Thursday afternoon
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06/21/2010
Mortgage markets posted four good days last week and one awful one. Unfortunately for rate shoppers in Michigan , that one bad day outweighed the gains of the other four and mortgage rates worsened on the week overall. Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FH
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06/14/2010
Rate shoppers caught another break last week as mortgage markets improved on weak jobs data. The May Non-Farm Payrolls report fell well short of expectations while ongoing jobless claims rose. The two combined to cast doubt on the speed of the U.S. economic recovery, hurting stocks and helping
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06/07/2010
Mortgage markets worsened last week as concerned of a global debt crisis lessened and stock markets rebounded. The gains in stocks came at the expense of bonds -- including mortgage bonds. Conforming and FHA mortgage rates rose for the first time in 5 weeks, pulling mortgage pricing off its best
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06/01/2010