Mortgages Blog

Tuesday, June 15, 2010 10:35 am
By Holden Lewis · Bankrate.com

Here’s the question to ask, as the House and Senate negotiate a financial reform bill: Will the new law prevent another meltdown in mortgages and real estate? Probably not. Reckless lending fueled the housing bubble, and the housing bubble fueled reckless lending. The two phenomena operated in a vicious circle. To prevent another meltdown, a

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Monday, June 14, 2010 9:02 am
By Holden Lewis · Bankrate.com

There are a few reports on this week’s economic calendar that could have a modest impact on mortgage rates. The highlight is Thursday’s Consumer Price Index for May. The consensus is that prices were flat, give or take a tenth of a percentage point. I doubt that the CPI report will yield a surprise. I

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Friday, June 11, 2010 11:47 am
By Holden Lewis · Bankrate.com

Mortgage rates haven’t moved much, if at all, in response to a report of rotten retail sales in May. Retail sales, excluding autos, fell 1.1 percent in May compared to the previous month. Economists and investors had expected a more modest drop, so this report was worse than expected. The year-over-year trend is positive, though:

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Thursday, June 10, 2010 10:42 am
By Holden Lewis · Bankrate.com

Mortgage rates hit another record low in Bankrate’s weekly survey, with the 30-year fixed falling yesterday to 4.88 percent. Judging by the yields on mortgage bonds, the average rate should have been two or three basis points lower than that. Mortgage planner Jim Sahnger tells me: “Borrowers should be aware that as pricing has improved,

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Tuesday, June 8, 2010 1:42 pm
By Holden Lewis · Bankrate.com

Mortgage bond yields have flattened out at a remarkably low level, and mortgage rates have done the same. It’s not too late to refinance. If you missed a refi opportunity a couple of weeks go, you have another chance now. Bankrate conducts its weekly rate surveys on Wednesdays, and if the research department were making

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Monday, June 7, 2010 12:35 pm
By Holden Lewis · Bankrate.com

You may follow me on Twitter @HoldenL. I tweet about movements in the mortgage market, and I alert followers to these blog posts. Also, a brief explanation: I blogged sparsely last week because I was at the annual conference of the National Association of Real Estate Editors. I’m chairman this year, and I didn’t have

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Monday, June 7, 2010 12:01 pm
By Holden Lewis · Bankrate.com

The mortgage meltdown and the oil disaster in the Gulf of Mexico have something in common: risk layering. It’s a self-explanatory concept: When you pile risk on top of risk, that’s risk layering. Driving drunk is a risk. Speeding is a risk. Running red lights is a risk. Driving without a seat belt is a

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Tags: Mortgages
Monday, June 7, 2010 9:27 am
By Holden Lewis · Bankrate.com

It’s a light week on the economic calendar, with the only notable report coming on Friday. That’s the report on retail sales in May. According to Briefing.com, the consensus is that the report will say that retail sales (excluding autos) went up 0.1 percent. Now, that 0.1 percent figure is the consensus among economists polled

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Friday, June 4, 2010 1:19 pm
By Holden Lewis · Bankrate.com

Mortgage rates have fallen following the release of a disappointing employment report for May. Yields on mortgage bonds have fallen about one-eighth of a percentage point today, which is likely to correspond to a similar decrease in the rate for the 30-year fixed. The impetus is the tepid May employment report, which was released this

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Wednesday, June 2, 2010 9:46 am
By Holden Lewis · Bankrate.com

Mortgage rates have settled into a groove since last Thursday. Yields on mortgage bonds have chugged along at more or less the same level since then, and that implies that mortgage rates haven’t moved much, either. Today is the day when Bankrate conducts its weekly rate survey; I predict that it will say that the

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