Update for the Week Ending December 2nd

Here are link to some weekly newsletters and the updates that I’ve received and/or distributed over the past week:

This week, the effects on mortgage rates from increased optimism about Europe and stronger than expected US economic data were offset by increased expectations for additional Fed purchases of mortgage-backed securities (MBS). As a result, mortgage rates ended the week with little change.

Weekly Market Recap distributed by MBSQuoteline

Mortgage bond prices ended slightly higher last week, which pushed mortgage interest rates lower. Stocks were stronger as the DOW surged higher by 291 points Monday and 490 points Wednesday. The Fed stepped in to help the EU deal with their debt crisis through some liquidity moves along with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank . . .

Mortgage Market in Review distributed by RateLink

New home sales rose 1.3% in October to an annualized pace of 307k, less than market expectations for a bigger gain to an annual rate of 315k. New home sales are counted when the sales contract is signed so these data reflect current sales activity. New home sales are 8.9% above their year ago level but remain a stunning 77.9% below their peak level reached in July 2005.

New Home Sales distributed by Housing Matrix

It is quite striking when you compare one week to the next in the financial markets. The 10 days before Thanksgiving were brutal. Stocks were diving, Europe was tipping into chaos and it looked like we were surely heading into another slowdown next quarter. We come back from the Thanksgiving Holiday and we are all brimming with optimism. What happened?

Real Estate Report distributed by Jeff Baxter – Mortgage Banking

I hope these items are helpful to your business.  Please connect with me on Facebook, Twitter, and LinkedIn.  You can fully follow me at the link below:

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