mortgage rates

Frightening Fragility When Running Consensus Fails

By Jeffrey P. Snider|2014-03-28T15:34:40-04:00March 28th, 2014|Economy, Federal Reserve/Monetary Policy, Markets, Real Estate, Stocks|

Mortgage rates have swung back to a 2-month high, a unfortunate concurrent timing to Janet Yellen’s recent assurance that the FOMC remains in full support of the mortgage market. Taper is not tightening to her, so the 53% decline in the monthly issuance of MBS and agency securities in February against May 2013 (before the taper word was released) must [...]

New Home Sales Spike As Prices Fall

By Jeffrey P. Snider|2013-07-24T15:31:13-04:00July 24th, 2013|Markets|

Real estate markets continued the blistering pace of new home sales in June, according to Census Bureau estimates. Year-over-year, seasonally adjusted growth was 38.1% to an annual rate of 497,000; the highest level since May 2008. On an unadjusted basis, there were 48,000 new homes sold in the US in June, up 41% Y/Y. In the wider historical context, the [...]

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