Sarasota Mortgage Rates | The Mortgage Skinny

Mortgage bonds fell pushing rates higher last week. Rates were pressured by high oil prices and remarks by fed Chairman Bernanke indicating inflation may increase. Fortunately significant stock weakness the latter portion of the week helped bonds recover some of the losses seen earlier in the week.

Important dates to look for….

Today watch the Retail Sales… Why? It’s important because it measures the consumer demand. A smaller than expected increase may lead to lower mortgage rates.

Also Watch Producer Price Index… Why? It’s Important because it’s an indication of inflationary pressures at the producer level. A weakness may lead to lower mortgage rates…

High oil prices continue to weigh heavily upon the financial markets. the health of the economy remains uncertain. Storcks continue to bounce up and down but recently showed some significant weakness. Inflation friendly data this week may lead to improvements in mortgage interest rates. However, unexpected consumer price spikes may push interest rates higher in the short-term. Be cautious heading into the release. Read the rest of this entry »

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Subprime mortgages have now been credited for bankrupting well over 110 lenders and seriously damaging operations at many major mortgage firms. They’ve reportedly wiped out 5 hedge funds, tens of thousands of jobs, and have led to millions of foreclosures with millions more on the way. And, as if that weren’t enough, subprime mortgages are also blamed for massive volatility in the stock, bond, credit, futures, and real estate markets here in the US and around the globe. Some say losses in the mortgage securities market alone could reach hundreds of billions of dollars this year.

This means that, for any Americans looking to buy, sell, or refinance a home, they are confronting a very different market from the one that existed just 6-12 months ago.

How did this happen?
The recent real estate boom was fueled by a period of record home appreciation and historically l Read the rest of this entry »

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