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Tag Archives: Treasury Yields

FOMC Issues Mortgage Rate Warning, Sticks to Bond Purchases

Fed

Despite concerns about rising mortgage rates and low inflation, the Federal Open Market Committee (FOMC) voted Wednesday to continue its policy of near-zero interest rates and its $85-billion-per-month bond-buying program. In a subtle change of language, the committee "reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends."

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Mortgage Rates Set New Lows as Economy Tilts Here, There

A decline in interest by homebuyers shaved just 0.2 percent off mortgage applications last week, with refinance activity climbing. The Mortgage Bankers Association, which unveils the figures in a weekly survey, found application volume upward-bound by 24 percent on a seasonally unadjusted basis. Refinance applications started to swell last week. The Refinance Index went up 1 percent, with the refinance share of mortgage activity cresting at 81 percent of total applications, up from 80 percent last week.

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Mortgage Rates Slip as Markets React to Fed’s Stimulus

Fed

Financial markets reacted to the Federal Reserve's announced stimulus last week, with investors dumping their money in more safe-haven Treasury debt, lowering mortgage rates accordingly. According to real estate website Zillow, which releases weekly surveys on the subject, the 30-year fixed-rate mortgage fell from 3.38 percent to 3.34 percent last week. Rates for the 15-year home loan slid to 2.71 percent, while those for 5-year and 1-year adjustable-rate mortgages inched down to 2.45 percent.

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Is New Treasury Plan Beginning of the End for the GSEs?

On Friday, after years of bills from lawmakers to reform Fannie and Freddie, the Treasury Department unveiled a plan to finally ├â┬ó├óÔÇÜ┬¼├àÔÇ£wind down├â┬ó├óÔÇÜ┬¼├é┬Ø the mortgage giants. According to a release, the Treasury Department will end a past ├â┬ó├óÔÇÜ┬¼├àÔÇ£circular├â┬ó├óÔÇÜ┬¼├é┬Ø arrangement with Fannie and Freddie that allowed the companies to repay the agency with the very funds it received in the first place. The new agreement requires that Fannie and Freddie divert any new quarterly profits back to Treasury in order to repay taxpayers for their losses.

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Why Do Real Estate Companies Bomb Customer Satisfaction Surveys?

According to a recent report by J.D. Power and Associates, home buyer satisfaction with national real estate companies fell to its lowest level in the history of the five-year-old survey, a record low on par with mortgage rates. The firm said that overall satisfaction slipped to 789 on a 1,000-point scale, down from 797 in 2011. Seller satisfaction followed the trend by averaging 768, down from 779 from the same time frame. The study tied real estate companies viewed more favorably by buyers and sellers to the frequency with which these companies capture a sizeable proportion of the listing price.

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Are Mortgage Rates on Their Way Back to Normalcy?

Could mortgage rates be on their way back? That's what today's mortgage rates just may suggest. Freddie Mac reported that the 30-year fixed-rate mortgage ticked up by a few basis points to arrive at 3.62 percent, up from 3.59 percent last week. The GSE also found interest rates for the 15-year home loan averaging 2.88 percent, with 5-year and 1-year adjustable-rate mortgages crawling to 2.76 percent and 2.69 percent, respectively. Bankrate.com likewise saw upward-bound changes in mortgage rates this week.

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Mortgage Rates Tick Up After Three Months

Freddie Mac announced Thursday that after more than three months of record-low drops, mortgage rates slid up this week. Freddie Mac's survey showed that the 30-year fixed-rate mortgage averaged 3.55 percent (0.7 point) for the week ending August 2, up from 3.49 percent the previous week. Before this week, the average 30-year FRM had fallen to or matched record-low levels for 13 of the past 14 weeks. The 15-year FRM also slid up, averaging 2.83 percent (0.6 point) from 2.80 percent last week.

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As Asking Prices Rise, Foreign Buyer Activity Falls

Higher asking prices drove off foreign homebuyers and investors over the last year, with real estate firm citing a 10 percent decline in foreign interest for the U.S. housing market. Releasing its International House Hunter Report Thursday, Trulia found that asking prices rose 0.3 percent year-over-year, nixing helpful influence from still-falling home prices. The housing bust attracted a number of foreign and cash buyers interested in low prices and the safe haven of U.S. real estate investment, according to Trulia.

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