Mortgage prices started weaker this morning. The Johnson Redbook chain store sales were down last month. Consumers remain mostly sidelined on job losses and the fear of future jobs being lost.
The Case/Shiller Home Price Index was down in April after declining 18.70% in March. Foreclosures continue to depress prices. The home-price index figures aren’t adjusted for seasonal effects so economists prefer to focus on year-over-year changes instead of month-to-month.
The Fed is scheduled to buy more treasuries today on the $300B announced bond purchase program announced in March. Treasuries and mortgage prices continue to fall this morning. Trade is thin and selling today is more technical than substantive so far.
Daily updates about the Mortgage Industry from Fred W. Holland
About Me
- Fred W. Holland
- FRED HOLLAND MORTGAGE 14014 NE 181st Pl # D101 Woodinville, WA 425-821-9028
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