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THE ECONOMY.(TO THE POINT)
Mortgage rates off record lows
The 30-year fixed mortgage rate rose to 6.43% in the week, up 9 basis points from the prior week's level, which was the lowest in 31 years of record keeping, Freddie Mac said. But economic data showing anemic growth has rates falling again. The 15-year fixed mortgage rose 8 basis points from a record low to 5.84%. One-year adjustable-rate mortgages rose 14 basis points to 4.45%.
Housing affordability falls in Q2
U.S. homes were less affordable as rising home prices offset lower mortgage rates, the National Association of Realtors said. NAR's affordability index fell to 132.6 from 137.2 in Q1. That means a typical household had 132.6% of the income needed to buy a median priced home. In Q2, the median home price rose to $157,700, up 4.5% from Q1.
The Bank of England left its key lending rate steady at a 38-year low of 4% for a ninth straight month despite data showing home prices shot up in July at the fastest annual rate in 13 years.
The European Central Bank left rates steady at 3.25% for a ninth straight month.
The Reuters Purchasing Managers' Index for the euro zone eased to 51.6 in July from 51.8 in June, still showing expansion in the ...
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- Magazine article from: The Bond Buyer Chesla, Nicholas Johnson, Anastasija July 24, 2003 700+ words
...Municipal bond yields fell two or three basis points yesterday in sympathy with firmer Treasuries...municipal arena, yields fell two or three basis points reflecting strength in Treasuries while...exempt bonds, yields were lowered by 10 basis points in 2005, two basis ...
- Thursday's Market: Yields Tumble 3 to 4 Basis Points; California Reprices $2...
- Magazine article from: The Bond Buyer Chesla, Nicholas April 25, 2003 700+ words
...bond yields fell three or four basis points yesterday, while underwriters lowered yields between two and six basis points at a repricing of $2 billion in...pricing, yields fell three to four basis points in the secondary, while traders...
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- Magazine article from: The Bond Buyer Chesla, Nicholas Johnson, Anastasija August 28, 2003 700+ words
...yield differential between two and 30-year municipal bonds stood at 364 basis points, up 253 basis points since January 2001. In late July, the spread rose to 367 basis points, the highest level since December 1984. "The majority of the steepening...
- Wednesday's Market: Cash Bonds Fall 1 to 2 Basis Points; Over $3 Billion of New...
- Magazine article from: The Bond Buyer Chesla, Nicholas February 27, 2003 700+ words
...while cash bond yields fell one to two basis points at the long end, reflecting firmer...range with yields falling three to five basis points. "It seems like the market is being...the repricing, yields were lowered 13 basis points in 2019, 10 basis points in 2024...
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- Magazine article from: The Bond Buyer Chesla, Nicholas Johnson, Anastasija July 30, 2003 700+ words
...Municipal bond yields rose roughly 10 basis points yesterday, taking their lead from...basking in positive territory when July consumer confidence declined to 76...arena, cash bond yields rose five basis points in early trading before reversing...
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- Magazine article from: The Bond Buyer Chesla, Nicholas Johnson, Anastasija June 11, 2003 700+ words
...bond yields fell between three and five basis points yesterday, while underwriters priced...yields fell between three and five basis points as Treasuries gained, while in the...noncallable bonds, yields were increased four basis points in 2005, by six basis points in ...
- Thursday's Market: Muni Yields Up Five Basis Points; MassHEFA, Pasco County,...
- Magazine article from: The Bond Buyer Chesla, Nicholas March 14, 2003 700+ words
Municipal bond yields rose five basis points overall yesterday while underwriters...selectively raised yields between two and five basis points at the repricing of new issues from...shift to a weakness bias and cut 25 basis points now or they might leave rates unchanged...
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- Magazine article from: The Bond Buyer Monsarrat, Sean Chesla, Nicholas May 9, 2002 700+ words
...secondary market yields rose 3 to 4 basis points as Treasury yields rose significantly...day, yields rose an estimated 3 to 4 basis points and more. Reflecting bigger losses...insured bond yields were raised by 2 basis points in 2013 and by 1 basis point in 2014...