After a two day losing streak, mortgage rates found stable footing yesterday afternoon as a rally in the benchmark Treasury market helped move mortgage-backed security prices higher which allowed lenders to reprice mortgage rates for the bette. Our busy week of economic data and influential events comes to an today with two more reports.First, the Department of Commerce released monthly Housing Starts and Building Permits data. Housing Starts data estimates how much new residential real estate construction occurred in the previous month. New construction means digging has begun. Adding rooms or renovating old ones does not count, the builder must be constructing a new home (can be on old foundation if re-building). Although the report offers up single family housing, 2-4 unit housing, and 5…(read more)
Carlos Figueira - Keypoint Mortgage 