No Bull Agent

Mortgage Rate Update for the Week of June 14, 2010

Information in this post is provided by Greg Wickstrand, Home Loan Consultant for HomeServices Lending.  He is a guest blogger who provides us information from a lender’s perspective.  For additional posts by Greg, please visit his BLOG.

What’s Ahead for Mortgage Rates this Week:  June 14, 2010
By:  Greg Wickstrand

Mortgage markets posted four good days last week and one awful one.  Unfortunately for rate shoppers , that one bad day outweighed the gains of the other four and mortgage rates worsened on the week overall.

Despite re-touching all-time lows on Tuesday and Wednesday, Conforming and FHA mortgage rates moved higher on the week.

There wasn’t much domestic data on which for mortgage markets to move so rates took their cues from global economic activity. Strong data from Japan and China, plus an improving outlook from the Eurozone, sparked optimism among Wall Street investors.  Cash poured into the stock market and it happened at the expense of bonds — including the mortgage-backed ones. Read the rest of this entry »

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