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| For the Week Ending May 15, 2015 |
| | | | Please enjoy this quick update on what happened this week in the housing and financial markets.
| Stagnant business inventories point to a contraction in GDP. Rates would normally decline on the news but instead are being driven higher by the global bond sell-off.
*Note: The rate gauge shows weekly movement. Rates have moved up incrementally, so a week's change does not always register on the gauge.
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| Bond market sell-offs are pushing yields higher across the globe. Concurrent selling in the mortgage bond marke t pushes mortgage rates higher too. |
| The price of goods at the wholesale level fell in April, a sign that inflation is still not a threat. Without inflation, the Fed should be in no rush to tighten monetary policy. |
| NAR continues to warn Realtors about the upcoming TRID changes. Richard Cordray says that there are no plans to delay the deadline on the new forms. |
| Foreclosure activity continued to decline in March. Completed foreclosures are now down over 65% from their peak in September 2010. |
| Access to credit increased in April according to the MBA's Credit Availability Index. Increased access to credit was led by new VA, FHA 203K, and Jumbo offerings. |
Two antennae met on a roof, fell in love, and got married. Their wedding ceremony wasn't fancy; however, the reception was excellent. 
Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time. |
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Derek Tsakiris
Branch Manager, NMLS# 1007898 Residential Mortgage Services 306 Main Street, PO Box 1476 For information purposes only and is not a commitment to lend. Programs, rates, terms and conditions are subject to change at any time. Availability dependent upon approved credit and documentation, acceptable appraisal, and market conditions. Not all programs available in all areas. Residential Mortgage Services, Inc. is a Maine Corporation headquartered at 24 Christopher Toppi Drive, South Portland, ME 04106. NMLS ID #1760; www.nmlsconsumeraccess.org; VT Lender License #6701; Licensed by the New Hampshire Banking Department; NH Mortgage Banker License #8816-MB; ME Supervised Lender License #SLM2537;. Equal Housing Opportunity. This email was sent as part of my effort to maintain our relationship and keep you well informed of market conditions. It could be interpreted as a commercial message. If you would like to stop receiving these emails, you may click here to unsubscribe at any time.
Residential Mortgage Services - 306 Main Street, PO Box 1476 , Norwich, VT 05055 |
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