Fixed Mortgage Basics: Fundamentals of Fixed Interest Rates

A fixed mortgage is one whose interest rate remains the same over the full term of the mortgage loan. This   contrasts with an adjustable rate mortgage, where the interest rate can fluctuate with market conditions after a specified period of time. A fixed interest rate is easier to understand, and many prefer the predictabilityContinue reading “Fixed Mortgage Basics: Fundamentals of Fixed Interest Rates”

Events effecting the Maine Mortgage Market 11.15 to 11.19

Mortgage bond prices were lower for last week pushing mortgage interest rates higher.  The Treasury auctions were mixed with generally decent foreign demand but rather lackluster overall results. The weekly jobless claims data came in lower than expected which was not bond friendly and pushed rates considerably higher Wednesday.  The bond market was closed Thursday for the holiday,Continue reading “Events effecting the Maine Mortgage Market 11.15 to 11.19”

Maine Mortgage Market Update 11.04.2010

Mortgage bond prices remain stronger this morning erasing the losses from yesterday afternoon following the data this morning. Preliminary Q3 productivity rose 1.9%, higher than the expected 1% increase. Weekly jobless claims came in at 457k, higher than the expected 443k. We still have the employment report looming tomorrow. There is more potential for wildContinue reading “Maine Mortgage Market Update 11.04.2010”

A Look ahead at events that can effect Mortgage bond prices

Economic Indicator Release Date & Time Consensus Estimate Analysis Existing Home Sales Monday, Oct. 25, 10:00 am, et 4.23m Low importance. An indication of mortgage credit demand. Significant weakness may lead to lower rates. Consumer Confidence Tuesday, Oct. 26, 10:00 am, et 50 Important. An indication of consumers’ willingness to spend. Weakness may lead toContinue reading “A Look ahead at events that can effect Mortgage bond prices”

Maine Mortgage Market Update 10.25.2010

Mortgage bond prices remain higher Monday morning erasing all the losses seen Friday afternoon and more. Trade is quiet. In news released today, existing home sales stood at 4.53M. Traders were expecting sales to stand at 4.25M. That data was better than expected however it had little effect on trade. With no more news setContinue reading “Maine Mortgage Market Update 10.25.2010”

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