Thursday, January 19, 2006
Mother fvcking POS
Well everything came together exept the RALLY!!!!
Mortgage rates are at a 3 month low. I was the only one predicting this.
The mother fuckers are looking at apartments and housing together, so a dip was reported today.
Despite Beazer's profits and D R Horton's. The builders took a good beating.
Sometimes a chart has a life of it's own. We played the chart last week. today it played me.
Rates on 30-Year Mortgages Dip for 6th Week
Thursday January 19, 12:16 pm ET
By Martin Crutsinger, AP Economics Writer
Rates on 30-Year Mortgages Dip for 6th Consecutive Week, Hit Lowest Level in Three Months
WASHINGTON (AP) -- Rates on 30-year mortgages fell for a sixth straight week, dropping to the lowest level in three months, according to a weekly survey released Thursday.
Mortgage giant Freddie Mac said rates on 30-year, fixed-rate mortgages dipped to 6.10 percent this week, down from 6.15 percent last week.
Rates have been falling since mid-December when rates on the 30-year mortgage were at 6.32 percent. The rate is now the lowest since the week of Oct. 20.
"Over the last six weeks, long-term mortgage rates have dropped nearly a quarter of a percent in the face of little or no inflationary pressures," said Frank Nothaft, chief economist at Freddie Mac.
Even with the declines, rates are still higher than they were a year ago, reflecting a campaign by the Federal Reserve to boost interest rates as a way of slowing the economy enough to keep inflation under control.
Many economists believe those higher rates will cool the booming housing market which has seen construction of single-family homes and sales of both new and existing homes soar to record levels.
Separately, the Commerce Department said Thursday that construction of new homes and apartments dropped a sharp 8.9 percent in December, which was seen as strong evidence that the housing market is starting to cool down. For the year, construction of both homes and apartments rose to the second-highest level in history and single-family home construction set a record.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.67 percent this week, down from 5.71 percent last week.
One-year adjustable rate mortgages edged up slightly to 5.18 percent, compared to 5.15 percent last week.
Rates on five-year hybrid adjustable rate mortgages dipped to 5.75 percent, down from 5.76 percent last week.
The averages for mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages carried a nationwide average fee of 0.5 point while the one-year and five-year adjustable rate mortgages carried an average fee of 0.6 point.
A year ago, 30-year mortgages averaged 5.67 percent, 15-year mortgages stood at 5.15 percent, one-year ARMs were at 4.11 percent and five-year ARMs averaged 5.05 percent.
Mortgage rates are at a 3 month low. I was the only one predicting this.
The mother fuckers are looking at apartments and housing together, so a dip was reported today.
Despite Beazer's profits and D R Horton's. The builders took a good beating.
Sometimes a chart has a life of it's own. We played the chart last week. today it played me.
Rates on 30-Year Mortgages Dip for 6th Week
Thursday January 19, 12:16 pm ET
By Martin Crutsinger, AP Economics Writer
Rates on 30-Year Mortgages Dip for 6th Consecutive Week, Hit Lowest Level in Three Months
WASHINGTON (AP) -- Rates on 30-year mortgages fell for a sixth straight week, dropping to the lowest level in three months, according to a weekly survey released Thursday.
Mortgage giant Freddie Mac said rates on 30-year, fixed-rate mortgages dipped to 6.10 percent this week, down from 6.15 percent last week.
Rates have been falling since mid-December when rates on the 30-year mortgage were at 6.32 percent. The rate is now the lowest since the week of Oct. 20.
"Over the last six weeks, long-term mortgage rates have dropped nearly a quarter of a percent in the face of little or no inflationary pressures," said Frank Nothaft, chief economist at Freddie Mac.
Even with the declines, rates are still higher than they were a year ago, reflecting a campaign by the Federal Reserve to boost interest rates as a way of slowing the economy enough to keep inflation under control.
Many economists believe those higher rates will cool the booming housing market which has seen construction of single-family homes and sales of both new and existing homes soar to record levels.
Separately, the Commerce Department said Thursday that construction of new homes and apartments dropped a sharp 8.9 percent in December, which was seen as strong evidence that the housing market is starting to cool down. For the year, construction of both homes and apartments rose to the second-highest level in history and single-family home construction set a record.
Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing a home mortgage, averaged 5.67 percent this week, down from 5.71 percent last week.
One-year adjustable rate mortgages edged up slightly to 5.18 percent, compared to 5.15 percent last week.
Rates on five-year hybrid adjustable rate mortgages dipped to 5.75 percent, down from 5.76 percent last week.
The averages for mortgage rates do not include add-on fees known as points. The 30-year and 15-year mortgages carried a nationwide average fee of 0.5 point while the one-year and five-year adjustable rate mortgages carried an average fee of 0.6 point.
A year ago, 30-year mortgages averaged 5.67 percent, 15-year mortgages stood at 5.15 percent, one-year ARMs were at 4.11 percent and five-year ARMs averaged 5.05 percent.
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