Market Reports
Market Report for the Week Ending 1/1/2009
January 5, 2010 by BigMama · Leave a Comment
What Did Interest Rates Do This Week?
30-yr Fixed – Higher
This Week: 5.14%
Last Week: 5.05%
1yr Ago: 5.10%
15-yr Fixed – Higher
This Week: 4.54%
Last Week: 4.45%
1yr Ago: 4.83%
Jumbo Fixed (Average 30-yr Fixed)
This Week: 5.895%
Last Week: 5.875%
Highlight of This Week’s Major Economic Reports:
Real Estate Market News – at your fingertips -
2009 came to an end with mortgage rates on the rise, but to keep things in perspective – rates are comparable to where they were in late October, and much lower than this past summer’s peak.
One of the main factors that contributed to the uptick in rates was the Fed winding down its purchase of Treasuries, which allowed the natural laws of supply-and-demand to take a hold on the market. Prices of bonds went up as a result, which causes yields (rates) to go up.
Nevertheless, as Freddie Mac, puts it: “Although long-term mortgage rates rose for the fourth week in a row, they still remain affordable by historical standards. Based on today’s median loan amount of $138,000, monthly principal and interest payments for a 30-year fixed-rate mortgage are close to one-third less than a decade ago when rates peaked at 8.6 percent in May 2000. This translates into almost 50% less in interest payments over the full 30-year term.”
What to Look for Next Week:
Nothing like the state of the job market to grab everyone’s attention, and we get to find out how the last month of last decade fared with the release of the December employment report. Economists expect the smallest drop in payrolls since the recession began two years ago, which – if true – we hope will signify that we’re nearing the end of this “employment slump.”
Short-Term Rate Outlook:
Potentially Slightly Higher
Stay Informed: What’s in the News:
“Don’t Mess with Texas: More Americans Moving In” from CNNMoney.com
Marie Funston | Sr. Mortgage Advisor | (512) 750-7270
9442 N Capital of Texas Hwy., Suite 1-600
Austin, TX 78759
Fax: (512) 343-1224
Marie@austinmortgageadvisor.com
(Reprinted with permission from Marie)
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Hi! My name is Alison Shuman and I am a licensed Texas REALTOR® with Coldwell Banker United, REALTORS®. I live, work and play in Northwest Austin. I spent years as a technical project manager. Then, to quote one of my favorite movies, I realized it was time to get busy living, or get busy dying. Join me on my journey to becoming a Real Estate Pro. Just maybe you'll find something that helps you find your own way HOME.


