Economy

Stock Market Today: Jobs Data Give Investors Cause for Pause

Higher-than-expected initial unemployment claims left the major indices with middling results Thursday; chip stocks and marijuana plays had much more clear direction.

Mortgage and refinance rates today, February 11, 2021

Today’s mortgage and refinance rates  Average mortgage rates nudged lower again yesterday. And, as Freddie Mac and Mortgage News Daily point out, they’re now pretty much back to where they […]

Slight Rate Increases Dampen Mortgage Application Volume

Posted To: MND NewsWire

Mortgage application activity gave back much of the previous week’s gains as interest rates increased. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 4.1 percent on a seasonally adjusted basis during the week ended February 5 and was down 3 percent before adjustment. The Refinance Index, which had surged by 11 percent during the last week in January, was down 4 percent last week but was still 46 percent higher than the same week one year ago. The refinancing share of overall activity decreased to 70.2 percent from 71.4 percent the previous week. The seasonally adjusted Purchase Index dropped 5 percent from one week earlier but was up 2 percent from the prior week and 17 percent year-over-year on an unadjusted…(read more)

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How long should small-business, mortgage aid last?

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

Mortgage rates set new record low, falling below 3% as concerns rise about coronavirus second wave – CNBC

Mortgage rates set new record low, falling below 3% as concerns rise about coronavirus second wave  CNBC

U.S. Housing Market Will Withstand a Wave of Foreclosures When Forbearance Ends

Investors and first-time homebuyers will quickly buy up an impending wave of foreclosures from homeowners saddled with debt during the pandemic

The Outpost Economy: A New Trend

The COVID-19 pandemic has resulted in many behavioral changes, not the least of which is the acceleration of the work-from-home trend. As the location of…

The post The Outpost Economy: A New Trend first appeared on Century 21®.

When Will The Mortgage Market Actually Care About Rising Rates?

There’s an obvious trend toward higher rates as far as Treasury yields are concerned. This goes all the way back to August. Treasury yields and mortgage rates historically correlate quite well. But mortgage rates have almost completely ignored that correlation recently. In fact, most of the 2nd half of 2020 saw mortgage rates fall while Treasury yields continued higher. The chart above doesn’t tell the whole story because it uses a separate y-axis for each line. Here’s the same time frame with mortgage rates and 10yr yields on the same axis: That still doesn’t tell us much although we can certainly see different patterns. Here’s another look at the same two rates on the same axis, but this time we’re charting the CHANGE since Jan 1, 2020. This one probably tells the story better than the rest