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Quicken Loans Capital Markets Update – Treasuries and Mortgage Securities React to Job Market News
Quicken Loans Capital Markets Update – Pending Home Sales Show Slight Gain
Despite Mortgage Rates Near Historic Lows, Mortgage Applications Decrease 18.9 Percent
Quicken Loans Capital Markets Update – Case/Shiller Index Signals Home Price Declines Abating
Quicken Loans Capital Markets Update – Shortened Holiday Week Puts Focus on Economic Reports
Quicken Loans Capital Markets Update – Investors Disappointed by Fed’s Failure to Extend Treasury and MBS Buying
Quicken Loans Capital Markets Update – Treasury Prices Lower Again This Morning Ahead of T-Note Auction
New Home Sales Dip in Latest Report
Quicken Loans Capital Markets Update – Treasury Prices Lower This Morning
Has the Housing Market Hit the Bottom? Existing Home Sales Have First Back-to-Back Monthly Gain Since September 2005

Quicken Loans Capital Markets Update – Treasuries and Mortgage Securities React to Job Market News ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for July 2, 2009</h3> Treasuries and mortgage securities rallied this morning in reaction to worse-than-expected jobless rate news. News that employers in the US cut 467,000 jobs in June caused the stock market to tumble. The rising unemployment rate and stagnation of hourly wages casts doubt that the Obama administration’s stimulus package is shoring up the labor market as hoped. Next week all eyes are on the size of the Treasury auction. Stay tuned! Tomorrow we’re out for the holiday here at Quicken Loans. We wish you all a safe and happy July 4th! Check back Monday for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Pending Home Sales Show Slight Gain ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for July 1, 2009</h3> This morning’s MBA Mortgage Applications report came in -18.6%, the biggest drop since February. While the report sends a disheartneing signal that the housing sector is not improving as hoped, it is not expected to move markets, as the the period was largely influenced by slightly higher mortgage rates. On a more positive note, the Pending Home Sales Index rose ever so slightly (by 0.1%). While the increase doesn’t show a huge improvement in existing home sales, it does show that the decline has slowed – especially significant since this index has now been in positive territory for four consecutive months. Some economists see this as an indicator that the housing market slump is bottoming out. Economic Releases to watch tomorrow: <ul> <li>8:30 AM – Unemployment Rate</li> <li>8:30 AM – Initial & Continuing Jobless claims</li> <li>10:00 AM – Factory Orders</li> </ul> That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Despite Mortgage Rates Near Historic Lows, Mortgage Applications Decrease 18.9 Percent ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> Last week, the number of Americans <a href="/mortgage-apply-home-loan">applying for mortgages</a> decreased 18.9% when compared to the week prior, according to a report released today by the Mortgage Bankers Association (MBA). The study showed <a href="/ame">refinance applications</a> were down 30%, while <a href="/mortgage-application/purchase/borrower-information">applications from those seeking to purchase a home</a> decreased 4.5%. According to Quicken Loans Chief Economist Bob Walters, stabilizing home prices may <a href="/mortgage-options/500-dollar-home-buyer-bonus">encourage buyers to take action</a> in the coming weeks. “After a mid-June spike, and media coverage of additional home incentive programs, it appears that buyers are still holding out for rates to fall closer to the historically low levels offered last spring. However, as we move deeper into the prime weeks of the summer selling season I expect the large base of affordable homes, coupled with stabilizing home prices, <a href="/mortgage-rates">historically low mortgage rates</a> and existing <a href="/home-buying/learn/why/first-time-home-buyer-home-loan-tax-credit">government tax incentives</a>, will persuade people who are on the fence to take action. The temporary leveling of mortgage rates in the past two weeks is certainly a major motivator for buyers to who were holding out for rates to decrease. “This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Case/Shiller Index Signals Home Price Declines Abating ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for June 30, 2009</h3> Treasury and mortgage bonds are under pressure this morning as the market is anticipating strong third quarter earnings. Home price declines (as reported by the Case/Shiller index) fell at a slower pace than forecast, signaling the plunge in home prices is abating. Economic Releases to watch tomorrow: 7am MBA Mortgage Applications 8:15am ADP Employment Change 10am ISM Manufacturing 10am Pending Home Sales That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Shortened Holiday Week Puts Focus on Economic Reports ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for June 29, 2009</h3> On this shortened holiday week, the markets will focus primarily on economic reports, interest rates and the almighty dollar. This week’s key reports are Wednesday’s June ISM Manufacturing Index, Thursday’s June Payroll Report and the June Unemployment Rate Report. Markets will also keep an eye toward US interest rate yields, which have fallen in the past two weeks on softer perceptions of the economy, inflation risks and the Fed’s promise to keep short-term rates low for an “extended period.” That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Investors Disappointed by Fed’s Failure to Extend Treasury and MBS Buying ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for June 25, 2009</h3> Investors seem universally disappointed by the Fed’s failure to extend its Treasury and MBS buying. The Dow and Treasuries traded lower following the release of the FOMC policy statement. To the surprise of no one, the Fed left target rates unchanged. Unfortunately, the post-meeting statement was also left largely unchanged. Many had hoped this month’s announcement would herald changes to the Fed’s security purchase programs and provide clearer direction. Following the FOMC announcement, trading activity increased and MBS outperformed Treasuries amid falling prices. That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Treasury Prices Lower Again This Morning Ahead of T-Note Auction ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for June 24, 2009</h3> Treasury prices are lower this morning ahead of today’s large 5-year T-Note auction and FOMC interest rate announcement. Yesterday’s 2-year auction went according to plan, which bodes well for today’s auction. But, there is an awful lot of supply being auctioned this week. The FOMC will conclude it’s two-day policy meeting today and the market unamimously expects the Fed to leave it’s Fed Funds Rate target unchanged. Finally, today’s May Durable Goods Orders report is expected to fall and the May New Home Sales report is expected to rise, extending April’s advance in new homes sales. That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

New Home Sales Dip in Latest Report ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> The U.S. Census Bureau, along with the Department of Housing and Urban Development, today announced that sales of new, single-family homes fell 0.6% in May when compared with the month prior. Quicken Loans Chief Economist Bob Walters says builders are having a hard time competing with the existing home market which is flooded with affordable homes. “After posting only a modest gain last month, new home sales continue their slip. The problem is clear – despite price reductions and builders including value-add upgrades, newly constructed homes simply cannot compete with the values found in the existing home market,” Walters said. “I would expect as we get deeper into the summer, and ever-closer to the start of the next school year, we will see some positive moves in the new home market.”This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Quicken Loans Capital Markets Update – Treasury Prices Lower This Morning ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> <h3>Quicken Loans Capital Markets Update for June 23, 2009</h3> Treasury prices are lower this morning ahead of today’s $40 billion, two-year T-Note auction and the commencement of the June FOMC meeting. The May existing homes sales report is expected to rise similar to the April report. A significant share of current home sales are comprised of foreclosed properties and short sales. Finally, the June Richmond Fed manufacturing index is expected to rise following May’s dramatic increase indicating optimism from manufacturing executives. That’s it for today. Check back tomorrow for the latest update from Quicken Loans Capital Markets.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

Has the Housing Market Hit the Bottom? Existing Home Sales Have First Back-to-Back Monthly Gain Since September 2005 ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a> The National Association of Realtors announced today that existing home sales in May increased 2.4% as compared to April 2009. While home sales were up, the inventory of unsold homes fell 3.5%t to 3.80 million units, representing a 9.6 month supply. “For the second straight month, Existing Home Sales have shown improvement, perhaps signaling that we are approaching the point where home prices are favorable enough to begin drawing in more buyers. The real test for this theory will come next month, when we will see what impact, if any, the recent increase in mortgage rates have had on home buyers,” said Bob Walters, chief economist at Quicken Loans. “If the numbers remain strong, perhaps it is time to begin pondering if we have started to form a bottom in the housing market.”This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2009 Quicken Loans Inc. All rights reserved. Continue ...

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