Mortgage delinquencies inched up in the second quarter of this year for the first time in five straight quarters, a directional shift that has mortgage regulators a little concerned. According to a new report from the Office of the Comptroller of the Currency, of mortgages that were delinquent between 30 and 59 days, there was 0.4 percent increase to 3 percent in the second quarter from the previous quarter, while for loans that were 60+ days late, the delinquency rate grew 0.1 percent to 4.9 percent. These increases in rates are so small, it would be easy to discount them. Statistically, ...

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You can't get your mortgage rates from the newspaper. Last week proved it.  Again. Friday morning, headlines and around the country read that mortgage rates were down 0.04 percent, on average, since the week prior. A sampling of said headlines includes: US Mortgage Rates Drop For 2nd Straight Week (Reuters) Mortgage Rates On 30-year US Loans Fall To 4.93% (Business Week) 30-Year Fixed Mortgage Rate Falls Farther Below 5% (Marketwatch) The story behind the headline was sourced from the Freddie Mac Primary Mortgage Market Survey, am industry-wide mortgage rate poll of more ...

Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise. There wasn't much hard data on which to trade last week, either, so momentum took markets farther than they otherwise might have moved on their own.  It marked the first time in 5 weeks that rates rose for rate shoppers. This week, data returns. Expect mortgage market movement. Some of the week's more important releases ...

Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week. Mortgage rates are now at a 6-week low but probably shouldn't be.  It underscores just how important global events can be to U.S. mortgage markets. For example, corporate earnings continue to improve and key elements of the economy are strengthening.  Even the Federal Reserve acknowledges this.  In most circumstances, that would be a boon for the stock ...

On the first Friday of every month, the U.S. government releases its Non-Farm Payrolls data from the month prior. The data is more commonly known as "the jobs report" and it swings a big stick on Wall Street. Especially now -- many analysts believe job growth is tightly linked to the future of the U.S. economy. Therefore, when January's jobs report hits the wires at 8:45 AM ET tomorrow, home buyers would do well to pay attention. A net job reading that is much higher (or lower) than Wall Street's expectations can make a serious change in home affordability. Wall Street expects that ...

In a news-heavy week, mortgage markets improved last week, adding to a 3-week rally. But, given last week's data and domestic story lines, it's surprising that rates actually fell. The Federal Reserve said the economy continues to strengthen Consumer Confidence pushed to a 2-year high 4th Quarter domestic output exceeded Wall Street's expectations Usually, events like these draw money away from the bond markets and into the stock markets and Wall Street preps for better corporate earnings. The movement pressures mortgage rates to rise. Last week, however, different stories ...

The Federal Open Market Committee ends a scheduled, 2-day meeting today in Washington. It's the first of 8 scheduled meetings for the policy-setting group in 2010. The group adjourns at 2:15 PM ET. As is customary, upon adjournment, the Fed will issue a press release to the markets recapping its views of the country's current economic condition, and the outlook for the near-term future. The post-meeting statements from the Fed are brief but comprehensive. And Wall Street eats them up.  Every word, sentence and phrase is carefully disected in the hope of gaining an investment edge ...