Read This Week’s “Market Trends” Newsletterby Tim Manni
This week’s Market Trends newsletter, “Mortgage Market Maelstrom, But Rates Steady” is up, click here to read it.
“July 11, 2008 — The turmoil in the mortgage market — not quite eerily quiet in the past couple of weeks — came thundering back into public view this week, as Fannie Mae and Freddie Mac found themselves increasingly battered by the mortgage, housing and investment markets.”
“Mortgage rates remained pretty calm throughout the week. According to 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 — declined by four basis points (.04%) to close the weekly survey at 6.87%. Five-one Hybrid ARMs shed seven basis points, improving to an overall average of 6.41% by week’s end…”
Every Monday HSH publishes a new version of Market Trends, our own in-depth analysis of various financial markets. Get your Market Trends Friday night by signing up to receive the FREE newsletter via email.