Alpharetta Cumming Lake Lanier Real Estate Blog

Mortgage markets improved last week during a snow- and holiday-thinned series of sessions on Wall Street. Mortgage bonds improved on year-end profit-taking, mostly, leading conforming mortgage rates lower.

Last week marked the first calendar week in which mortgage rates dropped since early-November, a pleasing development for rate shoppers and home buyers. Falling rates means lower monthly mortgage payments.

But don't expect for rates to improve again this week, however. Last week's gains were the result of extremely low trading volume and a close-out of 2010 mortgage bond positions. With markets re-opened for 2011, and Wall Street back at full volume, mortgage rates may resume rising.

There will be a lot of data and information on which for mortgage bonds to trade, too.

The week starts with a growth report from the U.S. manufacturing sector. The Institute for Supply Management's monthly report has shown improvement over 16 straight months, and Monday's report is expected to show the same. Because manufacturing is key in U.S. economy, a stronger-than-expected value could send stock markets higher, and mortgage rates, too.

Then, Tuesday, the Federal Reserve releases the minutes from its December meeting. There won't be policy changes transcribed in the minutes, but Wall Street will scrutinize its pages for clues on the economy. A bullish bias from the Fed will push rates higher. A bearish bias will drag rates lower.
And lastly, Friday, the government will release its Non-Farm Payrolls report for December. This is a major market-mover because of how closely jobs are tied to the economy overall. Plus, Fed Chairman Ben Bernanke speaks Friday - another risk to mortgage rates.

The gravity of this week's economic releases and speeches should make shopping for a mortgage difficult. Stay in close touch with us about mortgage rates and how they're moving. There's no promise rates will ever go lower.

Labels: alpharetta homes for sale, cumming homes for sale, milton homes for sale, mortgage rates

In a holiday-shortened week on Wall Street, mortgage markets improved on 3 of 4 days, but still posted its fourth consecutive losing week.
Unfortunately for rate shoppers and home buyers , last week's 3 days of gains were mild improvements; the one day of deterioration was among the Top 10 worst days for mortgage bonds this year.
Mortgage rates are at their highest levels since mid-July. The Refi Boom is unwinding quickly.
Last week underscores the importance of the global community to the future of the U.S. mortgage market. Two of the main reasons why mortgage rates increased were non-domestic.
1. Concerns for a full-blown North Korea/South Korea conflict
lessened quickly
2. The likelihood of a speedy, $85 billion bailout Ireland increased
The two events stemmed the typical safe-haven buying patterns that accompany geo-political and economic uncertainty, and drive down mortgage rates.
This week, mortgage rates may rise again.
First, Ireland's bailout package was signed Sunday morning and that relieves some pressure on the European Union. Second, this week's economic releases should show that the U.S. economy is still expanding, and that U.S. consumers are still spending - both are tied to higher rates.
A sampling of the week's releases include:
• Tuesday : Case-Shiller Index; Consumer Confidence surveys
• Thursday : Initial and Continuing Jobless Claims; Pending Home Sales
• Friday : Non-Farm Payrolls; Unemployment Rate
If you haven't locked a mortgage rate and are waiting for "the bottom", remember that the mortgage market waits for no one. Rates are much higher since the start of November and look ready to rise even higher. The longer you wait, the higher that rates could go!

Tomorrow we will look at housing prices...have they hit bottom?

Labels: forsyth county, homes for sale, mortgage rates

Mortgage markets were highly volatile, yet relatively unchanged last week in back-and-forth trading on Wall Street. Global investors are grappling with the state of U.S. economy and unable to discern whether it's growing, or slowing.As an real-world illustration, the government's August Retail Sales report showed strong growth nationwide. However, in looking at a subset of that same data that accounted for rising gas prices, and excluded automotive-related sales, the results were far more tame. In other words, despite the winning headlines, there was no clear conclusion in August's Retail Sales.

As another example, consumer confidence dropped to its lowest level since August 2009, it was reported last week. Now, on most days, this statistic would lead mortgage rates lower, but the figures happened to be offset by improving employment report that suggests a looming jobs recovery.

Again, markets got confused and without clear direction, mortgage rates have been dancing. Last week, conforming rates carved out a range close to 0.375 percent, making it difficult for rate shoppers to zero-in on pricing. 30-year fixed rates worsened, 15-year fixed held steady, and ARMs improved overall.

This week, expect rates to be equally jumpy. There's a lot of housing data due for release and the Federal Open Market Committee is meeting.
• Monday : Homebuilder Confidence Survey
• Tuesday : Housing Starts, Building Permits, FOMC Meeting
• Wednesday : FHFA Home Price Index
• Thursday : Existing Home Sales
• Friday : New Home Sales

That's one housing-related release per day, and a Federal Reserve meeting to boot. Today's low rates could be vanished by Friday. Therefore, if you haven't already, it may be time to call in and check on refinancing. Rates could certainly fall further, but they're looking more likely to rise.

Labels: Alpharetta, best realtors in town, cumming, mortgage rates

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, interest rates, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, interest rates, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest rates, mortgage rates, rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest rates, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, interest rates, mortgage rates, rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, home loans, interest rates, jumbo loan, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest rates, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, interest rates, mortgage rates, rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, loan, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, vanderhoff

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, vanderhoff real estate

Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation:

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 5.375% Purchase Only
15-yr Fixed = 5.0% Purchase Only
Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 5.0%
7/1 ARM =5.375%

FHA Loans: *
30-yr Fixed = Range 5.5% - 5.75%
*Based on pricing as of Friday, June 12th 09 at 1:00PM.

If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success!

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, vanderhoff

The recent surge in mortgage rates hasn't put a crimp in the housing recovery so far, but some economists think it could if rates head much higher.

The 30-year fixed rate jumped to an average 5.32 percent this week, up from 4.91 percent the previous week, according to Freddie Mac. Refinancings are already down sharply due to the higher rates, but home purchases continue to recover slowly.

In fact, the rise in mortgage rates in recent weeks is causing some homebuyers to jump now before rates head any higher.

Labels: housing, market, mortgage rates, real estate, refinance

Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation:

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 5.375% Purchase Only
15-yr Fixed = 4.875% Purchase Only
Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 5.125%
7/1 ARM =5.375%

FHA Loans:*
30-yr Fixed = Range 5.25% - 5.75%

*Based on pricing as of Friday, June 5th 09 at 1:00PM.

If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success!

Labels: 15 year fixed, 30 year fixed, covenant mortgage, FHA, mortgage rates, real estate, refinance, vanderhoff

Check out this weekend's mortgage rates provided by Covenant Mortgage Corporation:

Conforming Loans: Loan amounts $417,000 & under*
30-yr Fixed = 5.125% Purchase Only
15-yr Fixed = 4.625% Purchase Only
NEW! Conforming 5/1 Interest-Only: 4.625%
Consult your Covenant Mortgage Professional for Refinance Quotes

Jumbo Loans: Loan amounts over $417,000*
5/1 ARM = 5.125%
7/1 ARM =5.375%

FHA Loans: *
30-yr Fixed = Range 5.00% - 5.50%
NEW FHA 5/1 ARM starting at 3.625% Rate fixed for 5 years!

*Based on pricing as of Friday, 5/29th/09 at 1:00PM.

If you would like help with your next real estate transaction, please contact our team at Vanderhoff Real Estate today. We can be your bridge to success!

Labels: 15 year fixed, 30 year fixed, arm, covenant mortgage, FHA, mortgage rates, real estate, vanderhoff