Housing Bright Spot: Construction Spending Rises

Construction Spending Rises U.S. construction spending rose 0.3 percent in April as private residential construction increased at the fastest pace in six months. Overall construction spending was up 6.8 percent compared with April 2011. Construction spending rose to an annual rate of $820.7 billion, the Commerce Department said on Friday, after an upwardly revised 0.3Continue reading “Housing Bright Spot: Construction Spending Rises”

Mortgage bond prices stabilize and trade sideways

Mortgage bond prices stabilize and trade sideways but with debt resolution still up the air, the volatility will remain and prices will trade sideways. MARKET WRAP: Bond markets stabilized today and pushed higher despite better than expected news from initial claims, pending home sales and not-so-good results from the $29B 7-yr note auction. Whispers ofContinue reading “Mortgage bond prices stabilize and trade sideways”

FDIC’s Bair suggests time right for rate hikes.

Outgoing Federal Deposit Insurance Corp. Chairman Sheila Bair on Friday said it may be time to think about implementing a slow increase in interest rates to make bank lending more profitable. Bair’s comments come as some bankers have been criticizing the Federal Reserve’s zero interest rate policy, insisting that it is hurting bank profitability andContinue reading “FDIC’s Bair suggests time right for rate hikes.”

Maine Mortgage Market Wrap

MARKET WRAP: Mortgage finished near unchanged levels but were able to pare losses after news that a new earthquake hit Japan, which drew money out of Stocks and into the Bond markets. The 4% coupon finished at 97.78 up 6bp. The only economic report today showed that Initial Jobless Claims fell 10,000 in the latestContinue reading “Maine Mortgage Market Wrap”

Maine Mortgage Rate Update for August 17, 2010

Maine Mortgage Rate Update for August 17, 2010 Here are some of the events affecting Maine mortgage rates today: What Mortgage Backed Securities (MBS) Are Doing Today: The price of the FNMA 30-Year 4.0% MBS coupon opened at 102.81 this morning – the same as yesterday’s close. At 9:30 AM, the 4.0% MBS coupon wasContinue reading “Maine Mortgage Rate Update for August 17, 2010”

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