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Freddie Mac: Inflation Data Sends Rates into Retreat
Freddie Mac's Primary Mortgage Market Survey for the week ended June 18 showed significant decreases in all mortgage products although they are still above the record low territory of late spring. The 30-year fixed rate mortgage (FRM) dropped to 5…(read more)
Sales of Existing Homes Hurt by Poor Appraisals
Sales of existing homes saw their first back-to-back increase in nearly four years last month, but while the percentage gain in May was encouraging, the actual level of sales was lower than expected due to downward revisions. The pace of all existing…(read more)
Mid-Morning Recap: Stocks Mixed, Consumer Confidence Up Slightly
Stocks are mixed this morning, which seems an appropriate response to the latest Consumer Sentiment report. Ninety minutes into the session, the S&P 500 is climbing back towards par but remains down 0.32%, while the Dow is flat, and the Nasdaq is…(read more)
Mortgage Applications Rebound as Rates Stabilize
Loan applications for mortgages increased last week for the first time in a month, as average rates for a 30-year fixed rate mortgage edged downwards, a weekly report said Wednesday. Demand for applications advanced 6.6% in the week ending June 19, according…(read more)
New Home Sales Stagnate. April Revisions Mitigate May Decline
News was mixed for the real estate market this morning. Sales of new single-family homes fell 0.6% in May, in contrast to expectations of a 2.3% increase. By itself, that would be awful news, but revisions to April told the opposite story: the original…(read more)
Mortgage Applications:Demand for Refinancing Shrinks, MBA Says
Demand for mortgages plummeted last week, pushing the index tracking mortgage applications down to a seven month low, even as average rates for a 30-year fixed mortgage moderated, a weekly report said Wednesday. Loan applications decreased 15.8% in the…(read more)
Freddie Mac: Rates Rise to Highest Levels of Year
Interest rates continued to increase during the week ended June 11 according to results of Freddie Mac’s weekly Primary Mortgage Market Survey released this morning. Three of the four average rates tracked by the survey were the highest of the current…(read more)