Fixed rates are up about .2% and ARMs are up about .3% over last week. The main reason is that Consumer Price data last week came in higher and traders panicked about inflation. The market now thinks another .25% hike to the Fed Funds rate on June 29 is a foregone conclusion, and they’ve been
June 2006
Fixed and ARM rates open this week even. In recent weeks, markets have shifted from fearing the inflation that comes from rapid economic growth to fearing an economic slowdown. This helps rates because it pushes traders into the safety of bonds, which pushes bond prices up and bond yields (or rates) down. It also puts
I took a break from MarketWeek since last Monday was a holiday, and good thing too. It was a gloomy rate week up until Friday’s job growth came in way below Wall Street estimates and pushed rates down by about .25%. I’m showing zero-points rates on core programs below. But it’s a slow data week
It was not long ago that most home loans were the same, simple structure. A fixed rate along with an amortization schedule of 15 or 30 years. But in the past couple market cycles, and especially in the past five years, home loans have gotten a lot more sophisticated to meet the expanding objectives of