Articles from July 2016



Mortgage Rates Down to 2-Week Lows After GDP

Mortgage rates enjoyed another strong day, falling to the best levels in exactly 2 weeks. Rates were actually set to move higher early this morning, but a much weaker-than-expected reading on Q2 GDP helped drive demand for bonds. Better buying pushes bond prices higher and rates lower. The strength in bond markets gave lenders the […]

Best Day Since Brexit For Mortgage Rates

Mortgage rates fell at the quickest pace in more than a month today as lenders priced-in the market improvements seen after yesterday’s Fed Announcement. Even though quite a few lenders offered improvements yesterday afternoon, the so-called “reprices” were conservative compared to improvements implied by trading levels in mortgage-backed-securities (the bonds that most directly affect mortgage […]

Mortgage Rates Move Down Following Fed Announcement

Mortgage rates moved slightly lower today, although that’s only true for lenders who issued mid-day improvements following the Fed’s policy announcement. Markets were, by no means, expecting the Fed to hike rates today, but there was a decent enough chance they would telegraph their intention to hike. Such a move is certainly in the Fed’s […]

Mortgage Rates at 1-Month Highs

Mortgage rates moved slightly higher today, and are now effectively at the highest levels in month. That sounds a bit more dire than it is, though, because there hasn’t been much movement in the bigger picture–especially over the past few days. In fact, there’s quite a good chance that you’d receive the same quote today […]

Mortgage Rates Continue Sideways Slide Ahead of Fed

Mortgage rates were unchanged again today, making three out of the past 4 days where rates haven’t budged and 6 out of the past 7 days where rates moved by 0.01% or less, on average. That’s an exceptionally narrow range, and it speaks to indecision in financial markets ahead of this week’s major central bank […]

FHA to Insure Mortgages on Certain Properties with Pace Assessments

WASHINGTON – In order to enable homeowners seeking clean energy technologies in their homes to leverage a range of financing options, the Federal Housing Administration (FHA) today announced guidance that makes clear the circumstances under which it will insure mortgages on properties that include Property Assessed Clean Energy (PACE) assessments…. HUD Press Releases

HUD and Census Bureau Announce New Residential Construction Activity in June

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential construction statistics for June 2016…. HUD Press Releases

Mortgage Rates Steady at 1-Month Highs

Mortgage rates didn’t budge , compared to yesterday’s, which leaves them in line with their highest levels since late June. A small majority lenders have moved up from quoting conventional 30yr fixed rates of 3.375% to 3.5% during the course of this week, and a several are already as high as 3.625% for top tier […]

Mortgage Rates Highest in Nearly a Month

For most lenders, you’d have to go back to late June in order to see mortgage rates any higher than they were today, although several lenders did offer improvements as market conditions allowed in the afternoon. Additionally, there really wasn’t much upward movement in rates from yesterday. Rather, this is simply the culmination of a […]

HUD Awards More Than $52 Million to Protect Children and Families from Dangerous Lead and Other Home Hazards

WASHINGTON – To protect children and families from the hazards of lead-based paint and from other home health and safety hazards, The U.S. Department of Housing and Urban Development (HUD) today awarded more than $ 52.6 million in Lead Based Paint Hazard Control grants to 23 local and state government agencies…. HUD Press Releases