Daily Mortgage Rates Becoming Less Volatile [mortgage-scam.blogspot.com]
The markets opened sharply lower today, and continued to add to their losses, despite a jobs report from the ADP that was better than expected. 209000 jobs were added in the private sector in March, according to the ADP National Employment Report. Although that number exceeded economists expectations of 200000, it does indicate a slowdown from the prior month. Also on the economic front, the Mortgage Bankers Association is reporting an increase in weekly mortgage applications, which comes after seven weeks of declines. In earnings news, Monsanto (MON) posted earnings which beat expectations, due in part to global demand for corn and strong sales in the US Yahoo (YHOO) announced today it will cut 2000 jobs, which is about 14 percent of its workforce. The company said it expects about 5 million in annualized savings from the job cuts. Tomorrow, we'll take a look at the numbers for jobless claims, chain store sales, as w ell as earnings from CarMax (KMX). This is Sayoko Murase for Passfail.com, taking you behind the ticker. For Passfail.com, Behind The Ticker (TM) Pass Fail News
mortgage-scam.blogspot.com Passfail.com News: Daily Market Wrap: April 4, 2012
... rate on the 30-year fixed mortgage stayed this week at the lowest level on record. Cheap mortgages have helped drive a modest housing recovery and could give the broader economy a jolt at a time when the job market is weak. ... Columbia Daily ... Mortgage rates stay at record lows
Daily mortgage rate are something that many home owners do not keep up with. Honestly, it seems that many Americans just take whatever rate that is offered to them that seems acceptable. Prior to the previous week, average rate were quite volatile involving swings as much as a full percentage point in less than a week. This makes it very challenging to decide what a decent rate offer is. Unfortunately, many Americans went to banks and got home loan rates that were much higher than they should have accepted.
When looking at Wells Fargo mortgage rates, you are likely to see quite unusual movement in the month of June. There was actually a two week period in which overall rates moved from 4.8% to 5.59% and back down to 5.39%. This is not good for anyone as the uncertainty pushes people away. Many Americans are afraid to sink their money in the housing market as it is, so fluctuating mortgage rates makes them even more fearful.
The best way to avoid this fear is to educate yourself on the market.
If you know where rates have been and where they are currently, you will have a much better chance at predicting where they are going to go. It is hard to imagine that many Americans who buy a home do not even consider making a mortgage rate prediction before going through the home buying process. Do home owners not realize that they could save over $ 20,000 during the years that they are making a mortgage payment? I guess the answer to that question is no. Related Daily Mortgage Rates Becoming Less Volatile Articles
