HARP extended; Triangle unemployment drops
Posted April 12, 2013
This week was relatively light for economic data. Friday morning delivered two reports that helped push Treasury yields lower to end the week. Both retail sales and consumer sentiment reports arrived much weaker than expected indicating a potential slowdown in the domestic economy.
The HARP program has been extended again by the FHFA. The new expiration date for the program is December 31, 2015. HARP – or Home Affordable Refinance Program – helps homeowners refinance their mortgage even if they are underwater. For programs details please go to www.makinghomeaffordable.gov.
Good news for job seekers in the Triangle. The February unemployment figures now show the Triangle sitting at 7.5 percent for the month. That figure is down from the 8.1 percent reading in January.
Mortgage rates have continued to trade in a relatively tight range this week. The 10-year yield was back to 1.72 by the end of day on Friday.
Housing starts and the Consumer Price Index are just two of the economic data points to be released next week. As is always the case any deviation from consensus estimate could provide a platform for volatility within the bond and mortgage rate space.
Have a great weekend!