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Thursday, December 30, 2010

Mortgage rates worsened today

as mortgage bonds fail to sustain yesterday’s gains and Treasuries lose ground after more positive economic data was released today. Jobless claims decreased, business activity increased and pending home sales rose. Origination is light and trading conditions remain thin and choppy as 2010 come to a close. Stock markets are negative this morning but that can hardly take away the massive gains made this year. Let’s hope a bid reemerges for bonds in 2011 to help get the housing market back on its feet. Have a safe and festive New Year’s Eve!
Posted by Gillard Family at 9:05 AM

1 comments:

Jazzie Casas said...

This was kind of a bizarre year for the mortgage market. In the first half of the year, you had a decent number of home sales keeping mortgages for purchases stable, thanks to the home buyer credit. In the second half of the year, that changed as demand crumbled when the credit was withdrawn. At the same time, you had very low mortgage interest rates throughout much of the year cause a mini-refinancing boom. 2011 will look very different, as the housing demand continues to struggle and mortgage interest rates have begun rising.






home buyer

December 30, 2010 8:59 PM

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