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Baltimore mortgage rates increased today for the first time in several weeks, as some new economic data came to light sparking an increase in bond yields.

At 8:30 a.m., Durable Goods Orders Data was released. This report measures new orders at U.S. factories for products that are expected to last at least three years (ie: computers, appliances, electronics, etc.).

This report usually indicates how busy factories will be in the months ahead. Increasing orders implies there is the potential for higher corporate profits and maybe the need to hire additional staff for a growing operation. This is beneficial for the overall economy and stock market, but bad for the fixed income sector, bond yields, and mortgage rates.

The report showed that durable orders improved for the third straight month.  New orders increased 0.5 percent and last month’s orders were revised upward from an initially reported rise of 3.0 percent to a revised 3.9 percent. When excluding transportation orders, the report showed a larger than anticipated increase of 0.9 percent (vs 0.6 percent expected increase).

Bond yields moved higher quickly on this data.

New Home Sales data was also released today. New Home Sales lost momentum over the winter, as the previous four reports have all indicated declining sales. February’s report actually fell to a record low level. Today’s release was no better as New Home Sales declined again to a brand new record low.

Current Baltimore mortgage rates are as follows:

30-Year Fixed: 5.125% with 0 points

15-Year Fixed: 4.500% with 0 points

To start your application, click here to contact us today.

* Rates shown assume a minimum credit score of 740 and a LTV of less than 70%. Adjustments may apply to lower credit scores or to higher LTVs.

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Baltimore MD mortgage rates are holding fast so far this afternoon.

Several inflation reports were released this week, but many of them reflected the fact that inflation remains tame.  There was no significant economic data released this morning, which leads us to believe that rates should hold steady throughout the course of the day today.

On the horizon, however, looms the infamous Health Care bill.  Should it pass sometime over the course of this weekend, we feel that this may cause the stock market to react negatively on Monday, which could signal positive changes in the bond market.  Stay tuned.

Current Baltimore mortgage rates are as follows:

30-Year Fixed: 5.000% with 0 points

15-Year Fixed: 4.375% with 0 points

To start your application, click here to contact us today.

* Rates shown assume a minimum credit score of 740 and a LTV of less than 70%. Adjustments may apply to lower credit scores or to higher LTVs.

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Baltimore mortgage rates stayed flat on Wednesday, following word from the Federal Reserve that officials will leave interest rates alone.

The Fed decided to leave its key interest rate near 0 percent on Tuesday afternoon and stated that interest rates should stay low for the foreseeable future.

Fed officials said that the weakened economy is going to result in “exceptionally low levels of the federal funds rate for an extended period.”

That policy has been in place since March of last year.

Current Baltimore mortgage rates are as follows:

30-Year Fixed: 5.000% with 0 points

15-Year Fixed: 4.375% with 0 points

To start your application, click here to contact me today.

* Rates shown assume a minimum credit score of 740 and a LTV of less than 70%. Adjustments may apply to lower credit scores or to higher LTVs.

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• Federal Reserve moves signal mortgage rates could ease up to 5.5% (oregonlive.com)
• What’s Next for the Fed and Mortgages? (blogs.wsj.com)
• “Mortgage Rates: Only One Way to Go” and related posts (zerohedge.com)