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  • 17th May

    Homebuilder Confidence is on the rise once again.

    After a brief dip in April, the National Association of Homebuilders reports that the Housing Market Index rose 5 points in May to 29. The increase marks the sharpest climb in homebuilder confidence on a month-to-month basis in 10 years, and raises the index to a 5-year high. The Housing Market Index is scored from 1-100. Readings above 50 indicate favorable conditions in the single-family new home market overall. Readings below 50 indicate poor conditions. The HMI has not been above 50 since April 2006.
  • 14th May

    Mortgage Rates Make New All-Time Lows (Again)

    Conforming mortgage rates continue to drop. For the second straight week, the 30-year fixed rate mortgage fell to a new, all-time low nationwide. According to Freddie Mac’s weekly mortgage rate survey, the average 30-year fixed rate mortgage rate dropped 1 basis point to 3.83% this week for borrowers willing to pay 0.7 discount points plus a full set of closing costs. The 15-year fixed rate mortgage also set a mortgage rate record, registering 3.05% with an accompanying 0.7 discount plus closing costs.
  • 16th April

    MONDAY MORNING MARKET REVIEW

    Weaker than expected Employment data and increased concerns about Europe helped mortgage rates this week, and they ended lower than where they were before the March Employment report. While slower employment growth is painful for the country in nearly every way, this generally bad news is actually favorable for mortgage rates. Against a consensus forecast of 200K, the economy added just 120K jobs in March. The Unemployment Rate dropped to 8.2%, the lowest level since January 2009, but the decline was due to people leaving the labor force rather than finding jobs.
  • 4th April

    Making a Point About Low Mortgage Rates In NH and MA

    Mortgage rates can be confusing but a little explanation on how "points" work might shed some light on the subject. Lately more and more borrowers have been coming to me and wanting to pay points to get a lower mortgage rate on their home financing. A "point" is a percentage of the loan amount paid to get a lower than market interest rate. For example, today 30 year fixed rates are at 6.125%. Say you needed a $300,000 mortgage to buy a home and you wanted a lower rate than 6.125%, so you paid 1 point or 1% of $300,000 ($3,000) you could get a rate of 5.875% on a 30 year fixed.
  • 27th March

    What’s Ahead For Mortgage Rates This Week

    Mortgage markets carved out a wide range last week, eventually closing slightly worse. Mortgage-backed bonds sold off early in the week on rising investor sentiment. Then, they reversed higher on prepared remarks from Federal Reserve Chairman Ben Bernanke, which tempered Wall Street optimism. When bonds prices rise, mortgage rates fall. Conforming and FHA mortgage rates in New Hampshire and Maine edged higher on the week, and remain at a 5-month high.
  • 20th January

    Home Builders See More Sales

    Home Builders See More Sales, Higher Prices Ahead Homebuilder confidence is soaring. For the fourth straight month, the National Association of Homebuilders reports an increase in its Housing Market Index. The index climbed 4 points to 25 this month – its second four-point gain since October. With home sales activity increasing across all four regions, the monthly HMI has now nearly doubled in value since June 2011. The HMI is now at a 55-month high.
  • 3rd January

    Econmic News

    Many investors wanted to avoid risk during the final week of the year, which helped relatively safer assets such as US mortgage-backed securities (MBS). As a result, mortgage rates fell a little to end near the lowest levels of the year.
  • 3rd January

    Econmic News

    Many investors wanted to avoid risk during the final week of the year, which helped relatively safer assets such as US mortgage-backed securities (MBS). As a result, mortgage rates fell a little to end near the lowest levels of the year.
  • 19th December

    Global Economic Growth

    Increased concerns about European debt issues and the pace of global economic growth caused investors to shift to relatively safer assets this week. As a result, mortgage rates declined a little to near the lowest levels of the year.
  • 12th December

    Economic Data

    Sean C. Casey Licensed Loan Originator Direct 603.370.7047 Efax 866.706.7179 Licensed by the NH Banking Department Schaefer Mortgage Corporation(1919-100) 1750 Elm Street, Suite 104 Manchester, NH 03104 Branch NMLS#139493 NH & MA Licensed Originator #441902 With little economic data in the US this week, the focus was on Europe. Some investors were hoping that a more concrete plan to address the region's issues would be announced during the week, but they were somewhat disappointed. As a result, relatively safer assets saw gains, and mortgage rates ended the week lower.