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Mortgage Markets in a Minute 3-20-2015

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For the Week Ending March 20, 2015
 


The Fed has shown signs that they will not raise policy rates until later in the year. Positive bond market reaction helps keep interest rates low.
Oil pricing is on the decline again, with Brent crude falling below $55 a barrel. The decline in oil pricing combats inflation and is good for interest rates.
The number of new filings for unemployment benefits rose only marginally last week. This reading indicates that the labor market remains on solid footing.

February building permits were up 3.0%, the fastest pace since October. The increases were for both multi-family and single family homes.
Freddie Mac will soon begin purchasing loans with down payments of 3%. The move is expected to make more credit available to entry-level buyers.
The NAHB forecasts an improved market this year. Last year builders broke ground on over 1 million housing units, setting post-recession highs.

Roger applied to a finance agency for a job, but he had no experience.
He was so intense that the manager gave him a tough account with the promise that if he collected it, he’d get the job.
Two hours later, Roger came back with the entire amount.
“Amazing!” the manager said. “How did you do it?”
“Easy,” Roger replied.
“I told him if he didn’t pay up, I’d tell all his other creditors he paid us.”

 

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.

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