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Mortgage applications to purchase new homes up 17% in March from February, reports the MBA.
Loading.Freddie Mac reports the 30-yr fixed conventional rate fell to 3.66% from 3.70%, with 0.6 in points/fees.
RealtyTrac reports monthly house payments on a median-priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76% of the U.S. counties.
Weekly Initial Jobless Claims up 14K to 281K and below the 285K expected.
Mortgage backed securities had a great day today gaining 81 bp's at the time of this post. The changes were due to the Fed statement earlier today. Stocks, Oil and Bond prices were all higher. The Fed will continue to reinvest proceeds from principle payments in MBS back into purchasing MBS.
In short this means there should be a repicing for lower interest rates later today or may be reflected in the interest rates tommorow.
Mann Mortgage is proud to support the children's museum on Saturday March 14 from 10:00 - 3:00 with a free hot dog BBQ. Go to the Saint Patrick's Day Parade, and stop by Wise Wonders Children's Museum. It's located downtown at 110 North 29th.