The Veridian Blog

Hi Everyone -

Apologies for the long absence as we were fiddling with a new web design service.  The last two months have seen a marked increase in mortgage rates but not so much as to exceed last year's lowest levels.  It is an unprecedented time to purchase a home - call us for details.

Last week mortgage rates increased approximately 0.25 to 0.50% as equities continue a strong trend upward.  Both conforming and high-balance conforming programs changed for the worse with each piece of promising economic news.  Fed Chairman Bernanke, in statements made last Tuesday, believes the recession has seen its worse days despite rising unemployment.  Strengthening of the economy will also be gradual and uncertain. 

This morning, a surprising number for New Home Sales has prompted traders to sell bonds and so we can expect mortgage rates to increase later today in response.  Also posting this week are the Consumer Confidence Index and Durable Goods.