Investment Mortgage Guy

In reviewing the April Case-Shiller Index and its accompanying analysis, it appears that the housing market’s rebound is gathering momentum.

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Mortgage rates move in response to hundreds of factors. Among the biggest influences on mortgage rates? Inflation.

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Conforming and FHA mortgage rates fell last week, extending a rate rally that dates to early-April. Mortgage rates have fallen to several, new, all-time lows during this period and last week was no different.

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The press is referring to the May New Home Sales report as “poor”. A closer look, however, shows that may not be the case.

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Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.

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Today, in its first meeting in 5 weeks, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged. The Fed Fund Rate remains within its target range of 0.000-0.250 percent.

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The press is calling the May 2010 drop in Existing Home Sales “unexpected” and disappointing, but a deeper look at the data shows the news isn’t as bad as it first appears.

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The Federal Open Market Committee begins a 2-day meeting today, its fourth scheduled meeting of the year, and fifth overall. There’s no expectation for the Fed to change the Fed Funds Rate but that doesn’t mean consumers should expect mortgage rates to remain unchanged, too.

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Last week, rates fell to all-time lows (again) Thursday. By Friday morning, though, pricing was worsening on profit-taking and in preparation for this week — a week that promises to be heavy on both data and rhetoric.

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Contrary to what you may have read (or heard), the federal home buyer tax credit has not been extended past June 30, 2010. At least not yet.

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