Mortgage markets showed little conviction last week, carving out just a narrow trading channel. There was very little data on which for markets to move, leaving mortgage rates momentum-bound. Luckily for rate shoppers, mortgage rate momentum was favorable.
Versus 2008, foreclosures are up 21 percent nationwide and that’s a big number, but a deeper look at RealtyTrac’s annual reports reveals a more positive undertone on the housing market.
Mortgage rates are dropping this morning on weaker-than-expected Retail Sales data from December. Lower rates means more bang for your home-buying buck.
As the housing market improves across the country, certain cities are emerging as relative bargains.
Despite the headlines, it’s important to remember that December’s jobs report wasn’t all bad news. There’s two sides to every economic coin.
For the second straight week, the economic calendar is bare. Traders, once again, will be forced to rely on “gut” to make their trades.
The FHA published its 2010 loan limits. There’s no change from 2009.
Both mortgage rates and home affordability took a turn for the better Wednesday after the Federal Reserve released its December 15-16, 2009 meeting minutes.
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