Mortgage bond prices are near unchanged on the day holding the strong gains from Friday afternoon.
There was no data first thing this morning. ISM Index @ 49.6, expected @ 50.
The recent positive movement in rates has been attributed much to comments by the Fed Chairman. Federal Reserve Chairman Bernanke told the audience at the Jackson Hole Symposium that the governing body was concerned over the outlook of the economy. The stagnation of the labor market was a “grave concern” and that long-term unemployment could wreak structural damage to the economy. He said inflation remained tame allowing for further action to help the labor market. Mr. Bernanke took the opportunity to defend past actions from the Fed following critical remarks from lawmakers. His comments left little doubt that future easing will be tied to employment.
Fannie and Freddie announced an increase to the guarantee fee this morning. The fee will increase by 10 bps in rate or roughly 3/8’s of a discount point. You can expect to see this as an increased cost in your rates very soon if not already.
Moody's cut the euro zone's outlook rating to negative. We haven't gotten much traction from that news yet this morning.
For more information about Refinance Maryland and Pennsylvania Refinance please visit the web site :- http://www.firstchoicemoney.com/
There was no data first thing this morning. ISM Index @ 49.6, expected @ 50.
The recent positive movement in rates has been attributed much to comments by the Fed Chairman. Federal Reserve Chairman Bernanke told the audience at the Jackson Hole Symposium that the governing body was concerned over the outlook of the economy. The stagnation of the labor market was a “grave concern” and that long-term unemployment could wreak structural damage to the economy. He said inflation remained tame allowing for further action to help the labor market. Mr. Bernanke took the opportunity to defend past actions from the Fed following critical remarks from lawmakers. His comments left little doubt that future easing will be tied to employment.
Fannie and Freddie announced an increase to the guarantee fee this morning. The fee will increase by 10 bps in rate or roughly 3/8’s of a discount point. You can expect to see this as an increased cost in your rates very soon if not already.
Moody's cut the euro zone's outlook rating to negative. We haven't gotten much traction from that news yet this morning.
For more information about Refinance Maryland and Pennsylvania Refinance please visit the web site :- http://www.firstchoicemoney.com/
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