Quicken Loans - Mortgage NewsExisting Home Sales Dip Slightly in JanuaryWhile the National Association of Realtors report that existing home sales dipped slightly last month, 2005 is poised to be another very strong year. Find out how affordable borrowing costs are helping to fuel sales and whether they will continue.
Housing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Quicken Loans - Mortgage NewsExisting Home Sales Dip Slightly in JanuaryWhile the National Association of Realtors report that existing home sales dipped slightly last month, 2005 is poised to be another very strong year. Find out how affordable borrowing costs are helping to fuel sales and whether they will continue.
Housing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Quicken Loans - Mortgage NewsExisting Home Sales Dip Slightly in JanuaryWhile the National Association of Realtors report that existing home sales dipped slightly last month, 2005 is poised to be another very strong year. Find out how affordable borrowing costs are helping to fuel sales and whether they will continue.
Housing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Mortgage NewsADV:Indy Mac Home LoansAd - www.indymachomeloans.com Feb 19 2005 5:56AM GMT
Mix and match a designer home loan The Times Feb 19 2005 5:56AM GMT
Mortgage deals hit six-year low The Times Feb 19 2005 5:49AM GMT
Greenspan says limits wise for mortgage giants Chicago Tribune Feb 19 2005 5:38AM GMT
Fannie Mae Shares Fall to 4-Year Low Washington Post Feb 19 2005 5:38AM GMT
RB 37-9, Home Mortgage Disclosure Act - 9 pages (02/18/2005) 614 KB Office of Thrift Supervision Feb 19 2005 5:29AM GMT
House prices exceed GBP100,000 everywhere Independent Feb 19 2005 5:25AM GMT
Slide in mortgage lending confirms housing slowdown Independent Feb 19 2005 5:25AM GMT
HKMA cautions banks to cut back on mortgage lending: report etnet.com.hk Feb 19 2005 4:24AM GMT
StanChart concedes 95% mortgage lending too risky etnet.com.hk Feb 19 2005 3:58AM GMT
Weston: Save hundreds on your mortgage CNBC Feb 19 2005 3:54AM GMT
Mortgage lending slows Guardian Unlimited Feb 19 2005 2:46AM GMT
Greenspan warns of influence of Freddie Mac, Fannie Mae National Post Feb 19 2005 2:38AM GMT
UK Mortgage Innovations for First Time Buyers Datamonitor Feb 18 2005 9:05PM GMT
Sluggish Mortgage Lending In January Find a Property Feb 18 2005 8:27PM GMT
30% do not know their mortgage rate MyFinances.co.uk Feb 18 2005 6:43PM GMT
Slump in new mortgage lending MyFinances.co.uk Feb 18 2005 6:41PM GMT
Mortgage lending weakened in January ShareCast Feb 18 2005 5:23PM GMT
Fannie Mae announces new issue 2-year Benchmark Notes Investors Business Daily Feb 18 2005 4:45PM GMT
Few fall behind on home loans San Francisco Chronicle Feb 18 2005 2:27PM GMT
FSA to seek out illegal mortgage brokers Guardian Unlimited Feb 18 2005 2:17PM GMT
Illegal mortgage advice crackdown BBC Feb 18 2005 1:07PM GMT
FSA targets illegal mortgage brokers The Times Feb 18 2005 11:50AM GMT
Mortgage Rates Rise This Week Los Angeles Times Feb 18 2005 11:26AM GMT
Greenspan warns of influence of Freddie Mac, Fannie Mae Financial Post Feb 18 2005 10:09AM GMT
Mortgage Rates Edge Up Washington Post Feb 18 2005 7:04AM GMT
Save hundreds on your mortgage CNBC Feb 18 2005 4:47AM GMT
E-Loan's Larsen vacates CEO spot San Jose Business Journal Feb 18 2005 4:28AM GMT
Watchdog Crackdown on Illegal Mortgage Brokers PA News via The Scotsman Online Feb 18 2005 4:15AM GMT
PR Newswire: Fannie Mae Announces New Issue 2-Year Benchmark Notes(R) Belga Direct Press Releases Feb 18 2005 3:33AM GMT
Mortgage rates drift higher bizjournals.com Feb 18 2005 3:04AM GMT
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Quicken Loans - Mortgage NewsHousing Starts Continue to Rise in JanuaryHousing starts continued the momentum from 2004, reaching a 20-year high in January. Find out how low mortgage rates are helping fuel new construction.
Low Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
Interest.com Mortgages & Loans News1. Greenspan Comments Spur Treasury Sell-OffFederal Reserve Chairman Alan Greenspan told the Senate Banking Committee on Wednesday "the economy...entering 2005 is expanding at a reasonably good pace" and suggested there would be no pause in the string of rate hikes that began June 30, 2004. Additionally, he admitted that the decline in long-term interest rates during that same period was a "conundrum."
2. Rates Hold in Spite of Selling in TreasuriesThe biggest gain in retail sales since October and apprehension prior to Federal Reserve Chief Alan Greenspan's testimony before the Senate banking committee on Wednesday spurred a a moderate sell-off in U.S. Treasury securities on Tuesday. The headline number on retail sales in January showed a 0.3-percent decline -- less than forecast -- but when auto sales were excluded sales rose a stronger-than-expected 0.6 percent. Bond traders worry that a sharp increase in retail sales can not only speed economic growth but also stir inflationary pressures. Those outside the bond pits, however, saw the increase as encouraging but not inflationary. And everyone will be listening to Greenspan's comments regarding the state of the economy and hints on the Fed's intentions regarding interest rates. Although sellers of Treasuries out-paced buyers and yields, which move in the opposite direction of prices, edged up on the 5- and 10-year notes, the moves were not strong enough to influence significant changes in mortgage rates.
3. Treasuries Mark Time -- Rates SteadyU.S. Treasury securities marked time on Monday ahead of economic news with market-moving potential due out on Tuesday and Federal Reserve Chief Alan Greenspan's testimony before Congress on Wednesday and Thursday. Traders will be waiting to hear if Greenspan hints that the Fed will change its stance on tightening. There is also anxiety about whether "accommodative" and "measured" might be removed from future Fed statements. Accommodative refers to keeping rates low enough to allow the economy to grow, while measured assures that rate increases will be small but steady. Any change in this seven-month pattern is sure to rattle the markets.
4. Rates Hold at Lowered LevelsMortgage rates held their ground on Friday in spite of an early sell-off in prices of U.S. Treasury securities. Selling began on Thursday and continued into the early hours of today's session amid fears that the Federal Reserve might end its tightening cycle. There is much speculation regarding the Fed's intentions in the wake of recent speeches by Fed officials and ahead of Fed Chairman Alan Greenspan's testimony before Congress slated for next week. Over the past six months, short-term Treasuries having been sold and their yields, which move in the opposite direction of prices, have risen in response to Fed rate hikes. At the other end of the spectrum, the benchmark 10-year note and the 30-year bond have attracted buyers as the rate increases have kept inflation -- an enemy of fixed-rate assets such as bonds -- at bay. These movements resulted in what is called "curve flattening," which occurs when the difference between the yield on the two-year note and the 10-year note narrows. Some analysts chalked up today's early selling in Treasuries to a "correction" after flattening and left it at that. In spite of the ups and downs during the session, Treasuries ended almost unchanged from Thursday's close. This allowed mortgage lenders to keep most of their rates at newly lowered levels.
5. Rates Edge Down as Yields ReboundYields on U.S. Treasury securities bounced back up to levels of last Friday thanks to a big decline in first-time jobless claims and an auction of $14 billion in 10-year notes that failed to meet expectations. Profit-takers also may have entered the market as Treasuries have been on a non-stop rise since the release of a weaker-than-expected January employment report on Feb. 4. During that run the yields on longer-term government debt, which move in the opposite direction of prices, fell by close to 20 basis points. The steep decline in yields allowed mortgage lenders who use them to set rates edged rates down on most mortgage products.
6. Yield on 10-Year Note Dives Below 4 PercentA sell-off on Wall Street and a successful auction of 5-year Treasury notes sent money flying into the bond market on Wednesday. Prices of Treasuries climbed across-the-board and their yields, which move in the opposite direction of prices, continued to fall. This is the second consecutive day of strong buying in Treasuries, and much of the enthusiasm was based on a good response from indirect buyers (primary dealers and foreign central banks), who bought 40 percent of today's offering and a respectable amount on Tuesday. The last of the three such events will be held Thursday when $14 billion worth of 10-year notes go on the block. Strong selling in technology stocks, spurred by Cisco System's disappointing quarterly report, spread throughout the equity markets. This ignited additional safe-haven buying in Treasuries, and the yield on the benchmark 10-year note that lenders use to set mortgage rates hit a 20-week low. This influenced lenders to keep rates at attractive levels.
7. Rates Edge Down as Treasury Yields SlideMortgage rates continued to trend downward on Tuesday in response to steady buying in longer-term U.S. Treasury securities. The price of the benchmark 10-year note climbed and its yield, which moves in the opposite direction of price, fell to its lowest level since the end of October. This allowed mortgage lenders who base their rates on yields to keep them low on some mortgage products and edge them down others.
8. Mortgages Hover Stable, Longer Treasury Maturities See Yields Dip Prices of U.S. Treasury securities hovered stable in the short end but rose in the longer maturities on Monday, buoyed by the dollars advance, perceptions that U.S. budget deficit might not worsen and further optimism that inflation will not flare. Steady Treasury yields allowed mortgage rates to remain basically unchanged from Friday's levels.
9. Mortgages Hover Stable, Longer Treasury Maturities See Yields Dip Prices of U.S. Treasury securities hovered stable in the short end but rose in the longer maturities on Monday, buoyed by the dollars advance, perceptions that U.S. budget deficit might not worsen and further optimism that inflation will not flare. Steady Treasury yields allowed mortgage rates to remain basically unchanged from Friday's levels.
10. Employment Report Spurs Bond Rally -- Rates Edge DownU.S. Treasury traders went wild Friday on news that only 146,000 jobs were added to non-farm payrolls in January. Buying in Treasuries was aggressive as worries about bigger Fed rate hikes evaporated. Prices, especially on long-term debt, soared and yields, which move in the opposite direction of prices, plunged. The weaker-than-expected January employment report calmed fears that big increases in payrolls would drive up wages and spawn inflation -- the sworn enemy of fixed-rate assets. The unemployment rate also dropped to 5.2 percent -- its lowest level since September 2001. This number is obtained from a separate survey and does not carry the weight that job additions do. The Labor Department also reported that hourly wages increased by a modest 0.2 percent, and December payrolls were upwardly revised to 133,000 from 112,000. This news did not deter buying, although Treasury yields did close off of their lows of the day. The steep decline in yields, which lenders use as a guide to set mortgage rates, pushed the rate on the 30-year fixed to 5.375 percent and had a positive effect on other products as well.
Quicken Loans - Mortgage NewsLow Rates Continue to Fuel Refinance ApplicationsDespite a drop in overall mortgage applications last week, refinance applications remain strong due to favorable rates. How long will these low rates last?
Mortgage Q&A - Reasons to Review Your Mortgage OptionsFalling mortgage rates are not the only reason to refinance. Find out why an annual mortgage review should be part of your financial plan.
Winter Home Maintenance ChecklistRoutine seasonal maintenance keeps your home safe and can save you money in the long run. Find out what projects you should consider this winter.
Fed Hikes Interest Rates Another Quarter-PointAlan Greenspan and the Federal Reserve have stuck to their "measured pace"strategy by increasing short-term rates a quarter-point. Find out how this will impact mortgage rates.
Refinance Applications Soar on Historically Low Mortgage RatesThe MBA reports that mortgage applications were up over 7 percent last week. Find out what factors fueled the increase.
New Home Sales End Year In Record TerritoryDecember new home sales rebound after falling 12% in November.
Home Coverage UncoveredUnderstanding the different types of home coverage allows you to better protect your investment. Find out more about homeowner's insurance, home warranties, and private mortgage insurance (PMI).
Record Year for Existing Home SalesWhile December's existing home sales slipped 3.3%, 2004 was a record year for the housing market. Find out why, and see our prediction for 2005.
Mortgage Applications Rebound After Weeks of DeclineMortgage Bankers Association reports mortgage applications are on the rise. Find out why and see our housing predictions for 2005.
December Housing Starts Bounce BackHousing starts rebounded in December after a sluggish November report. Find out why, and hear our housing market predictions for 2005.
Interest.com Mortgages & Loans News1. Rates Hold in Spite of Selling in TreasuriesThe biggest gain in retail sales since October and apprehension prior to Federal Reserve Chief Alan Greenspan's testimony before the Senate banking committee on Wednesday spurred a a moderate sell-off in U.S. Treasury securities on Tuesday. The headline number on retail sales in January showed a 0.3-percent decline -- less than forecast -- but when auto sales were excluded sales rose a stronger-than-expected 0.6 percent. Bond traders worry that a sharp increase in retail sales can not only speed economic growth but also stir inflationary pressures. Those outside the bond pits, however, saw the increase as encouraging but not inflationary. And everyone will be listening to Greenspan's comments regarding the state of the economy and hints on the Fed's intentions regarding interest rates. Although sellers of Treasuries out-paced buyers and yields, which move in the opposite direction of prices, edged up on the 5- and 10-year notes, the moves were not strong enough to influence significant changes in mortgage rates.
2. Treasuries Mark Time -- Rates SteadyU.S. Treasury securities marked time on Monday ahead of economic news with market-moving potential due out on Tuesday and Federal Reserve Chief Alan Greenspan's testimony before Congress on Wednesday and Thursday. Traders will be waiting to hear if Greenspan hints that the Fed will change its stance on tightening. There is also anxiety about whether "accommodative" and "measured" might be removed from future Fed statements. Accommodative refers to keeping rates low enough to allow the economy to grow, while measured assures that rate increases will be small but steady. Any change in this seven-month pattern is sure to rattle the markets.
3. Rates Hold at Lowered LevelsMortgage rates held their ground on Friday in spite of an early sell-off in prices of U.S. Treasury securities. Selling began on Thursday and continued into the early hours of today's session amid fears that the Federal Reserve might end its tightening cycle. There is much speculation regarding the Fed's intentions in the wake of recent speeches by Fed officials and ahead of Fed Chairman Alan Greenspan's testimony before Congress slated for next week. Over the past six months, short-term Treasuries having been sold and their yields, which move in the opposite direction of prices, have risen in response to Fed rate hikes. At the other end of the spectrum, the benchmark 10-year note and the 30-year bond have attracted buyers as the rate increases have kept inflation -- an enemy of fixed-rate assets such as bonds -- at bay. These movements resulted in what is called "curve flattening," which occurs when the difference between the yield on the two-year note and the 10-year note narrows. Some analysts chalked up today's early selling in Treasuries to a "correction" after flattening and left it at that. In spite of the ups and downs during the session, Treasuries ended almost unchanged from Thursday's close. This allowed mortgage lenders to keep most of their rates at newly loweredlevels.
4. Rates Edge Down as Yields ReboundYields on U.S. Treasury securities bounced back up to levels of last Friday thanks to a big decline in first-time jobless claims and an auction of $14 billion in 10-year notes that failed to meet expectations. Profit-takers also may have entered the market as Treasuries have been on a non-stop rise since the release of a weaker-than-expected January employment report on Feb. 4. During that run the yields on longer-term government debt, which move in the opposite direction of prices, fell by close to 20 basis points. The steep decline in yields allowed mortgage lenders who use them to set rates edged rates down on most mortgage products.
5. Yield on 10-Year Note Dives Below 4 PercentA sell-off on Wall Street and a successful auction of 5-year Treasury notes sent money flying into the bond market on Wednesday. Prices of Treasuries climbed across-the-board and their yields, which move in the opposite direction of prices, continued to fall. This is the second consecutive day of strong buying in Treasuries, and much of the enthusiasm was based on a good response from indirect buyers (primary dealers and foreign central banks), who bought 40 percent of today's offering and a respectable amount on Tuesday. The last of the three such events will be held Thursday when $14 billion worth of 10-year notes go on the block. Strong selling in technology stocks, spurred by Cisco System's disappointing quarterly report, spread throughout the equity markets. This ignited additional safe-haven buying in Treasuries, and the yield on the benchmark 10-year note that lenders use to set mortgage rates hit a 20-week low. This influenced lenders to keep rates at attractive levels.
6. Rates Edge Down as Treasury Yields SlideMortgage rates continued to trend downward on Tuesday in response to steady buying in longer-term U.S. Treasury securities. The price of the benchmark 10-year note climbed and its yield, which moves in the opposite direction of price, fell to its lowest level since the end of October. This allowed mortgage lenders who base their rates on yields to keep them low on some mortgage products and edge them down others.
7. Mortgages Hover Stable, Longer Treasury Maturities See Yields Dip Prices of U.S. Treasury securities hovered stable in the short end but rose in the longer maturities on Monday, buoyed by the dollars advance, perceptions that U.S. budget deficit might not worsen and further optimism that inflation will not flare. Steady Treasury yields allowed mortgage rates to remain basically unchanged from Friday's levels.
8. Mortgages Hover Stable, Longer Treasury Maturities See Yields Dip Prices of U.S. Treasury securities hovered stable in the short end but rose in the longer maturities on Monday, buoyed by the dollars advance, perceptions that U.S. budget deficit might not worsen and further optimism that inflation will not flare. Steady Treasury yields allowed mortgage rates to remain basically unchanged from Friday's levels.
9. Employment Report Spurs Bond Rally -- Rates Edge DownU.S. Treasury traders went wild Friday on news that only 146,000 jobs were added to non-farm payrolls in January. Buying in Treasuries was aggressive as worries about bigger Fed rate hikes evaporated. Prices, especially on long-term debt, soared and yields, which move in the opposite direction of prices, plunged. The weaker-than-expected January employment report calmed fears that big increases in payrolls would drive up wages and spawn inflation -- the sworn enemy of fixed-rate assets. The unemployment rate also dropped to 5.2 percent -- its lowest level since September 2001. This number is obtained from a separate survey and does not carry the weight that job additions do. The Labor Department also reported that hourly wages increased by a modest 0.2 percent, and December payrolls were upwardly revised to 133,000 from 112,000. This news did not deter buying, although Treasury yields did close off of their lows of the day. The steep decline in yields, which lenders use as a guide to set mortgage rates, pushed the rate on the 30-year fixed to 5.375 percent and had a positive effect on other products as well.
10. Rates Hold Firm Ahead of Jobs ReportThere was a lot of news for the financial markets to digest the day prior to the January employment report. Wall Street was disappointed by weaker-than-expected earnings from some top companies, while bond traders worried about a slide in productivity and an increase in costs that could ignite inflationary fires. A drop of 9,000 filing for jobless benefits also raised a yellow flag about the strength of the labor market. While selling in U.S. Treasuries was not aggressive, prices on most government debt edged down and their yields, which move in the opposite direction of prices, rose.
