The Mortgage Reports

What Mortgage Rates Will Do Over The Next 30 Days (July 2, 2009 Edition)

Dan Green — Thu, 02 Jul 2009 06:32:25 PDT

today, mortgage rates are still higher than the government's "ideal" sub-5 percent level, but Wall Street isn't worrying about inflation as much. Data has improved in a lot of sectors, but it can't necessarily be categorized as "strong". Plus, gas prices are falling. Both of these developments are...

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Act Quickly On That Mortgage Quote — Mortgage Rates Are Changing Every 2 Hours, 58 Minutes

Dan Green — Wed, 01 Jul 2009 05:15:58 PDT

Mortgage rate volatility is back in a big way, folks. To put the pace of change in perspective, consider this: * In the last 60 days, lenders have issued 4 or more rates sheets in a day once per week * In the last 365 days, lenders have issued 4 or more rates sheets in a day once per month. The...

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Chart : Comparing The Fed Funds Rate To 30-Year Fixed Mortgage Rates

Dan Green — Mon, 29 Jun 2009 07:26:44 PDT

Since 2000, the spread between the Fed Funds Rate and the 30-year fixed rate mortgage has been as narrow as 1 percent and as wide as 5 percent. There was even a period in the 1970s and 1980s where the spread was negative; where mortgage rates were lower than the Fed Funds Rate.

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What Mortgage Rates Will Do Over The Next 30 Days (June 18, 2009 Edition)

Dan Green — Thu, 25 Jun 2009 08:01:47 PDT

With rising mortgage rates threatening the housing market's recovery and the employment sector showing signs of life, there was this pervasive nervousness on Wall Street pre-FOMC that the Fed would make a bold statement to keep the economy on track. This would have been awful for mortgage rates. ...

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Mortgage Rate-Locking Strategies Ahead Of This Week’s Federal Reserve Meeting

Dan Green — Tue, 23 Jun 2009 04:30:41 PDT

So that brings us to today's Federal Open Market Committee meeting. Looking at the chart at top, markets are 99.3% certain that the Federal Reserve won't raise the Fed Funds Rate from its current range of "near-zero". Investors have come to this conclusion because the Fed has repeatedly said it...

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The Untimely Timing Of The Freddie Mac Primary Mortgage Market Survey

Dan Green — Mon, 22 Jun 2009 07:14:20 PDT

To a consumer, one of the most difficult facets of shopping for a mortgage is figuring out just what mortgage rates are doing at any given time. Despite countless websites and blogs devoted to the topic of mortgage, the most important part of a person's research -- the darn price -- can't be found...

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Trends In Mortgage Rates : How Mortgage Rates Behave In The Summer Months

Dan Green — Tue, 16 Jun 2009 07:20:10 PDT

Mortgage rates are rising in this summer but don't look so shocked -- rates seem to rise every summer. As recorded by Freddie Mac, since 2006, 30-year fixed-rate conforming mortgage rate have made a habit of rising in May, June, July and August before settling down through football season. This...

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Answering The Question That Everyone’s Asking : “What Should I Do About Rising Mortgage Rates?”

Dan Green — Mon, 15 Jun 2009 04:00:38 PDT

Mortgage rates have risen sharply since the last week of May, putting a large dent into the Cincinnati homebuyer's monthly budget. Furthermore, the moves have been steep enough that mainstream media sees fit to cover the story. In this 3-minute interview with First Business, Dan Green answer some...

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The 3 States That Accounted For More Than Half Of The Nation’s Foreclosure Activity in May 2009

Dan Green — Fri, 12 Jun 2009 05:36:27 PDT

According to data from its May 2009 foreclosure trends report, foreclosure-tracker RealtyTrac showed that more than 50 percent of the country's foreclosure last month were concentrated across just 3 states: California, Florida, Nevada. On a population basis, these 3 states represent 19 percent of...

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What Mortgage Rates Will Do Over The Next 30 Days (June 11, 2009 Edition)

Dan Green — Wed, 10 Jun 2009 19:02:18 PDT

Putting two-and-two together, I'm telling you for the last time: If mortgage rates get too close to 7 percent, the Federal Reserve will likely to accelerate the pace of its bond buys and may increase its commitment to the markets, too. At least temporarily, this would drive mortgage rates down in...

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Be Ready For The Next Dip In Mortgage Rates BEFORE It Happens

Dan Green — Tue, 09 Jun 2009 06:56:57 PDT

Forget about that 4.500 percent, 0-point mortgage rate you passed on last month. It's gone. Today, conforming mortgage rates are bearing down on 6 percent. For a homeowner in Cincinnati with a $300,000, fixed-rate home loan, the impact is huge. Since the unofficial start of summer, rising...

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Mortgage Rate Shopping Strategies For When Mortgage Rates Are Volatile

Dan Green — Mon, 08 Jun 2009 07:34:16 PDT

You likely know this already but mortgage rates have soared since Memorial Day. Soared. Strangely, it's the most improbable turn of events that everybody and their mother saw coming. The root of the rise rests in inflation. As in, the fear of. And this run on rates had been predicted as far...

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How We Know That Existing Homes Sales Will Boom Through Summer 2009

Dan Green — Wed, 03 Jun 2009 06:03:15 PDT

In April, the number of MLS-listed homes that went under contract rose by an astounding 7 percent. It's the biggest one month jump in Pending Home Sales since October 2001, not coincidentally, the second-to-last month of the Early 2000s Recession.

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Mortgage Rates Added 1/2 Percent In A Day For The Second Time In A Week

Dan Green — Tue, 02 Jun 2009 07:32:57 PDT

After a two-month period of relative calm, Memorial Day 2009 ushered in a new era of mortgage rate volatility. Over the last 5 days of trading, mortgage lenders have issued 19 separate rate sheets, or nearly four per day. Every 2 hours, in other words, mortgage rates are changing and when they...

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How Fast Are Mortgage Rates Changing? Every 3 Hours, 37 Minutes.

Dan Green — Mon, 01 Jun 2009 04:00:38 PDT

After two straight months during which mortgage lenders were apt to let morning rate sheets stand, volatility is returning to mortgage rates. Over the last 60 days, on average, lenders have released mid-day, interest rate updates on 3 days of the 5-day workweek. It's making the process of shopping...

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Why The March 2009 Case-Shiller Home Price Index Is Good News For Housing

Dan Green — Wed, 27 May 2009 05:33:11 PDT

According to the March 2009 Case-Shiller Index report, home prices are down by nearly 19 percent nationwide. Or, at least, that's the story the press is running with. It makes for good headlines, but the data can be misleading to the average homebuyer in Cincinnati or Chicago or elsewhere. Home...

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Federal Reserve Member Bank Survey Results : Is It Easier, Or Harder, To Get A Prime Mortgage Versus Last Quarter?

Dan Green — Tue, 26 May 2009 08:02:19 PDT

Each quarter, in a survey of its member banks, the Federal Reserve asks senior loan officers whether their respective prime residential mortgage guidelines have tightened over the 3 months prior. May's survey showed that half of all banks had tightened.

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The Mortgage Reports : A Planned Blogging Vacation

Dan Green — Mon, 18 May 2009 04:00:00 PDT

I'm on blogging leave for the rest of the week. For mortgage questions on your purchase or refinance, email me anytime. My contact information is at right. In the meanwhile, keep yourself entertained with Strongbad.

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What To Do When Your Bank Won’t Finance More Than 4 Properties (Even Though Fannie Mae Allows It)

Dan Green — Fri, 15 May 2009 09:00:01 PDT

The 5-to-10 Properties Financed program is proving to be a bust. Despite Fannie Mae's explicit endorsement of investor loans -- mortgage lenders are keeping the investor-friendly program off their books. Well, most of them anyway.

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What Mortgage Rates Will Do Over The Next 30 Days (May 14, 2009 Edition)

Dan Green — Thu, 14 May 2009 07:37:41 PDT

Are mortgage rates going up? Are mortgage rates going down? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey may have your answers. The Bankrate.com survey is for conforming mortgages. It does not apply to FHA mortgages, VA mortgages, jumbo mortgages,...

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