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Market Comment Mortgage bond prices finished the week near unchanged which held rates steady. Rates remained volatile with sharp up and down movements but fortunately we ended the week flat. A lot of tame data helped stem upward pressure on rates. Industrial production fell 0.5% vs the expected unchanged reading. Capacity use was 78.9% vs … Continue reading MIG Market Watch, July 24th, 2023
Mortgage Investors Group (MIG) has been recognized by the Tennessee Housing Development Agency (THDA) as the top lender in the state for the 20th consecutive year. This remarkable achievement reflects MIG’s unwavering commitment to expanding homeownership opportunities, particularly in rural communities where traditional financing options may be limited. The THDA, an organization dedicated to promoting … Continue reading 20 Years of Excellence: Mortgage Investors Group Recognized as Tennessee’s #1 THDA Lender
Market Comment Mortgage bond prices finished the week sharply higher which put significant downward pressure on rates. Rates improved almost every day last week. There were not a lot of economic releases but most of the ones we had helped considerably. Consumer prices rose 0.2% vs 0.3%. The core, which excludes volatile food and energy … Continue reading MIG Market Watch, July 17th, 2023
Market Comment Mortgage bond prices finished the week sharply lower which put upward pressure on rates. Rates went back and forth to start the week but pushed significantly higher following the Fed minutes Wednesday afternoon and stronger than expected ADP data Thursday morning. ADP employment was 497K vs 228K. The rest of the data was … Continue reading MIG Market Watch, July 10th, 2023
Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. Rates worsened almost every day. The data generally showed strength which fuels the Fed’s argument that more aggressive rate hikes may be needed. FHFA house prices rose 0.7% vs 0.3%. Consumer confidence was 109.7 vs 104. New home sales were … Continue reading MIG Market Watch, July 3rd, 2023
Homeownership is quintessential to the American dream. It’s become the personal goal for many – to have somewhere all your own, a private sanctuary to shelter you from all of society’s uncertainty—a safe space to call your own, filled with memories and moments. And as a bonus, a home can be an excellent investment, something … Continue reading For Those with Disabilities, Homeownership Unlocks the Door to Independence and New Possibilities
Market Comment Mortgage bond prices finished the week with a slight negative bias. Rates continued to bounce around within a narrow range throughout most of the week. Fed Chair Powell’s testimony to Congress resulted in some volatility mid-week as anticipated. Powell said he expected more Fed rate hikes ahead as the inflation fight “has a … Continue reading MIG Market Watch, June 26th, 2023
Market Comment Mortgage bond prices finished the week near unchanged which kept rates flat. Rates bounced around within a narrow range throughout most of the week. Tame inflation readings and oil prices helped keep things steady. Consumer prices rose 0.1% vs 0.2%. The core, which excludes volatile food and energy, rose 0.4% as expected. Producer … Continue reading MIG Market Watch, June 19th, 2023
Market Comment Mortgage bond prices finished the week lower which put upward pressure on rates. Rates worsened Monday, bounced back mid-week, and closed on a negative note. Rising energy prices early in the week stoked some inflationary fears as Saudi Arabia announced production cuts. Other OPEC members voted against cuts. The oil price spikes were … Continue reading MIG Market Watch, June 12th, 2023
Market Comment Mortgage bond prices finished the week sharply higher which put downward pressure on rates. Rates improved most of the week amid debt ceiling negotiations and the ultimate passage of a bill that addressed the issue. Treasury Secretary Yellen had warned the country would run out of funds by June 5th. The data was … Continue reading MIG Market Watch, June 5th, 2023
“You have to go the way your blood beats. If you don’t live the only life you have, you won’t live some other life, you won’t live any life at all.” James Baldwin – Iconic writer, speaker, and activist June is LGBTQ+ Pride Month, a time when we recognize and celebrate the LGBTQ+ (Lesbian, Gay, … Continue reading LGBTQ+ Pride Month
June is National Homeownership Month. It’s a month where we recognize and celebrate the benefits of homeownership and promote opportunities for Americans to achieve the dream of ownership, creating a community, and hopefully cultivating an asset that will benefit their families for generations. National Homeownership Month was first established in 2002 by President George W. … Continue reading National Homeownership Month
