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Fannie and Freddie: Mortgage Rates Dip Below 5 Percent Again
Both long and short term interest rates declined during the week ended November 5 according to data released by Freddie Mac and Fannie Mae. All rates are now below an average of 5 percent.
Fannie Mae Launches Lease Program for Borrowers
Fannie Mae announced on Thursday that some borrowers who cannot otherwise qualify for loan modifications may be able to remain in their homes for a year or more through a new deed-in-lieu program.
Jobless Claims Improve. Temporary Hiring Adds Volatility to Data
In the week ending October 31, 2009, jobless claims fell to 512,000 from 532,000 in the previous week, which was revised higher from 530,000. Economists only expected 523,000 new claims for unemployment benefits, so this read was better than expected. This is the lowest number of jobless claims since the week ending January 3, 2009.Same story...layoffs in construction, manufacturing, agriculture, and trade industries. It is in our view that the amount of cost cutting performed by many firms combined with seasonal consumer demand influences will result in periods of temporary employment and thus volatility in labor market data. Unfortunately, as
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