Monthly Archives: October 2013

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT

RATES CONTINUE TO DROP WITH POOR EMPLOYMENT REPORT October 28th, 2013 Interest Rates improved for the 2nd straight week last week.  The main source of improvement was from the September employment report released Tuesday.  The gain in jobs fell well short of forecasts, pushing investor money into mortgage backed securities.  Rates are still at the […]

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HARP ELIGIBILITY INCREASES

HARP ELIGIBILITY INCREASES: In order to qualify for a HARP mortgage, a borrower must have taken out a Fannie Mae or Freddie Mac loan delivered to Fannie Mae no later than May 31st, 2009. Loans usually are not delivered to FMAE/FMAC for up to a month after they are completed, which left some borrowers unable […]

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INTEREST RATES HIT 4 MONTH LOWS

INTEREST RATES HIT 4 MONTH LOWS October 21st, 2013 Interest Rates hit 4 month lows on Friday /  Fannie Mae changes coming November 16th.  After a US debt deal in principal was announced on Wednesday – Interest rates greatly improved after slowly moving higher in the proceeding 2 weeks.   The uncertainty regarding the government closure […]

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RATES MOVE SLIGHTLY HIGHER / DEBT CEILING DEADLINE ON THURSDAY

October 14th, 2013 Interest rates moved slightly higher last week, but overall have remained quite steady for 3 weeks.  All eyes are on Washington DC to end the gov’t shutdown and increase the debt ceiling. The US treasury states that it will run out of money on Thursday, October 17th.  Anything but full payment on […]

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RATES REMAIN AT LOWEST LEVELS SINCE JUNE – WHAT AFFECT DOES GOV’T SHUTDOWN HAVE ON RATES?

RATES REMAIN AT LOWEST LEVELS SINCE JUNE – WHAT EFFECT DOES GOV’T SHUTDOWN HAVE ON RATES? October 7th, 2013 Interest rates remained at current levels last week with the bond markets in a stalemate because of the government shutdown.  Rates for the past 2 weeks have held at their lowest levels since June 2013.  The […]

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