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July 28th, 2008

Monday’s Market Trends Recap

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This week’s issue of HSH’s Market Trends Newsletter “Market Stresses Push Rates Higher,” examines the causes and effects of rising mortgage rates, inflation, weak homes sales, unemployment, and how they affect you.

July 25, 2008 — News of rising mortgage rates was everywhere you looked this week. With all the troubles in the marketplace and lenders still sporting many billion dollar losses, risks continue to rise, and rising risks mean higher rates.

After touching a flat 7% mark four weeks ago, HSH’s Fixed Rate Mortgage Indicator (FRMI), the overall average interest rate for 30-year FRMs of all stripes — including conforming, jumbo and expanded conforming offerings soundly cracked that level this week, landing at 7.10%, the highest overall rate since April 2002 and a 24-basis point increase for the week…

As well, the index of Leading Economic Indicators improved to a lesser decline, slipping by 0.1% in June, up from a 0.2% dip in May. The LEI is purportedly a forecasting tool for the period just ahead, but seems to reveal the present climate to a better degree. Positive numbers have been hard to come by here, with just one notched this year.

HSH’s free, weekly Market Trends Newsletter, an in-depth analysis of various financial markets of the week prior, is published every Monday. Email subscribers — receive it in your inbox by Friday night, so sign up today!

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

Our bloggers:

Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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