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Mortgage rates have surged upwards for the second consecutive week in response to better-than-expected economic reports, particularly in the growth of private-sector jobs. “Fixed mortgage rates increased this week following stronger-than-expected economic data releases,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement. “Private companies added 215,000 new jobs in…

At a recent gathering of commissioners, strong support for the Federal Housing Administration was expressed. Lawmakers in Congress who are raising alarms about the FHA needing a bailout and supporting legislation to change the way it does business are missing the indispensable role it played in protecting the housing market from a far worse collapse…

In mid-November, Janet Yellen, President Obama’s choice to replace Federal Reserve Chief Ben Bernanke, indicated that she would likely continue with the Fed’s economic stimulus efforts, known as Quantitative Easing. At her confirmation hearing in front of the U.S. Senate Banking Committee, Yellen signaled that she intended to carry on with, rather than taper, current…

With 2013 almost over, economists are looking into their crystal balls and predicting a purchase-driven mortgage market for 2014. Not to mention, ongoing home affordability is expected to rise in most areas despite rising mortgage rates. All of these trends were predicted in Freddie Mac’s latest Economic and Housing Market outlook. Read the full report…

The Federal Housing Finance Agency has set 2014 limits on the size of mortgages Freddie Mac and Fannie Mae are allowed to buy, unchanged from 2013 levels. FHFA, which oversees the mortgage lenders, sets the conforming loan limits each November, traditionally based on fluctuations in housing prices. The conforming loan limits for single-family properties next…

This past Monday’s bond market initially opened down slightly but has since moved into positive ground. The stock markets are relatively flat with the Dow up 12 points and the Nasdaq nearly unchanged from Friday’s close. The bond market is currently up 5/32, which should improve this morning’s mortgage rates by approximately .125 of a…