The stock market turned in a mixed performance for the second consecutive week as investors pulled back from record highs reached during the prior week amid trade and political turmoil. The Dow and S&P 500 both posted small losses while the NASDAQ Composite Index […]
Even though interest rates have slightly risen over the past year, mortgage rates are still near historic lows and much lower than most credit card rates. This is great for homeowners who want to get rid of high-interest credit card debt. Almost 10 percentage
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For Your Information 1. CORRECTIONS AND BEARS – THE S&P 500 has had 19 “corrections” (declines of at least 10 percent but less than 20 percent) and 7 “bears” (declines of at least 20 percent) in the last 50 years. The last “correction” ended on February 8, 2018. The last “bear” ended on March 9, 2009.
Mortgage Rates & Market Report – Week of June 18, 2018 Read More »
For Your Information 1. PUT IT ON THE CARD – Credit card debt in the USA was $103 trillion as of February 2018, its highest level ever. Credit card debt was $1.02 trillion in May 2008. (source: Federal Reserve). 2. NOT THAT MANY –
Mortgage Rates & Market Report – Week of April 16, 2018 Read More »
For Your Information 1, APRIL IS THE BEST – April has been the best month for the S&P 500 over the last 25 years (1193-2017), having gained an average of 1.81 percent (total return), just ahead of October’s 1.80 percent average gain. (source: BTN
Mortgage Rates & Market Report – Week of April 9, 2018 Read More »
Stocks and bonds both opened lower today. One of the news items weighing on the stock market is retaliation tariffs from China. China announced that they will increase their tariffs on 128 US products, which is now reigniting fears of a trade war and
Mortgage Rates & Market Report – Week of April 2, 2018 Read More »
We ended last week with mortgage interest rates yet lower once again. This drop in rates followed President Trump’s announcement and tweet that he is adding tariffs to imported aluminum and steel. This unsettled the financial markets which was good for mortgage bonds and thus resulted
Yes, mortgage interest rates had a very unexpected rally and dropped to 3.97%! Freddie Mac, in its weekly survey of more than 100 lenders nationwide revealed that the average 30-year rate had lost 11-basis points (0.11%) to achieve a low 3.97% rate this week.
In 2016 we heard for much of the year, expert after expert predicting the rise in interest rates. They were wrong. For most of the year, mortgage interest rates were at or near historic lows. Now that we are into 2017 the experts predict