After a down day on Friday, Mortgage Backed Securities rallied, then lost their gains after stronger than expected Chicago PMI and Pending Home Sales data. The market has opened roughly 0.125 WORSE for the Points/Credits associated with any given interest rate option. This daily mortgage interest
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06/30/2014
Stronger than expected New Home Sales and Consumer Confidence data has hurt Mortgage Backed Securities, reducing this morning's gains (after a pretty brutal day yesterday). The April Case-Shiller 20 City Home Price Index showed that home prices were 11% higher than this time last year. The market
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06/24/2014
This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling current mortgage pricing on any given day. Feel free to browse the library and research historical rate
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06/23/2014
Pricing has opened 0.125 - 0.250 WORSE to the points/credits associated with each interest rate option. This daily mortgage interest rate report is designed to provide Borrowers & Real Estate Profesionals with factual data regarding where rates are at any given time and what trends are propelling
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06/17/2014
Despite lower than expected PPI inflation data, Mortgage Backed Securities moved lower this morning. One reason is due to a speech last night suggesting that the Bank of England may begin to raise rates sooner than expected. Some investors are contemplating whether the Fed will provide similar gu
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06/13/2014
Although no economic data will be released today, the market has opened in negative territory after Friday's rough closing. Pricing has opened 0.250 WORSE to the points/credits associated with each interest rate option. This daily mortgage interest rate report is designed to provide Borrowers & R
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06/09/2014
It has been a volatile morning thus far. The data released at 8:30am EST matched expectations and initially had little impact. April Core PCE inflation rose 0.2% from March and was just 1.4% higher than one year ago. April Personal Income increased 0.3% from March. MBS prices then began to d
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05/30/2014
This morning, April Durable Orders showed an increase of 0.8% from March, well above the consensus for a decline of 0.7%. Excluding the volatile transportation component, the results were much weaker however. Factoring in upward revisions to the March data, the report was roughly neutral overall.
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05/27/2014
This morning (after a down day on Friday), the Empire State Regional Manufacturing Index came in below expectations. There was little reaction to the data. The DOW is up 10 points. There is no more economic data to be released today. Pricing has opened 0.125 - 0.250 WORSE to the points/credits as
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02/18/2014
How to calculate an FHA mortgage payment has evolved again, now that the most recent Monthly Mortgage Insurance changes have been implemented via HUD Mortgagee Letter 2013-04 (13-04) How to calculate an FHA mortgage payment Step 1: Determine the loan amount Purchase Price x .965 = Base Loan Amo
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02/15/2014
