Mortgage Market News for the week ending January 25, 2013. An improving outlook for global economic growth caused investors to shift assets from bonds to stocks, reducing demand for long-term fixed-rate assets including mortgage-backed securities (MBS). As a result, mortgage rates ended the week a little higher. The global economic data released this week was…
Carl Franceski with Llewellyn Realtors writes, A 64 year old woman in Montgomery County, Maryland was laid off of her job and got behind on her mortgage. She saw an advertisement for a service that could work directly with her bank to modify her mortgage. They promised a lower rate and a reduction in the…
Mortgage Market News for the week ending January 18, 2013. Positive economic data was the primary influence on mortgage rates this week. Unexpected strength in Retail Sales, Housing Starts, and Jobless Claims combined to push mortgage rates a little higher. Stronger economic growth is great for the labor market and the stock market. Unfortunately, it…