Mortgage Rates Head Into Weekend At Current Levels
Bill Steele–Financial Editor
The release of the April Employment Report had little lasting impact on the value of U.S. Treasury securities on Friday. Interest rates experienced only slight upward movement as a result, allowing lenders to hold mortgage rates near their prevailing levels.
The nation’s labor market remains healthy, [...]
The Housing Market: Based on predictions for 1999, the first quarter was to see a broad-based economic slowing, with a sharp decline in the demand for housing. With first quarter data in, it can safely be said that demand for housing remains strong. Furthermore, it is not clear that the housing [...]
Reduced MI Increases Homeownership Opportunities: In an effort to lower the cost of homeownership, secondary market investors have reduced mortgage insurance (MI) costs associated with low down payment loans. Mortgage insurance, a cost absorbed by the homebuyer, is paid to mortgage investors to protect against losses from default.
Mid-January, Fannie Mae announced [...]