Mortgage News Week In Review June 30th, 2014 Dana Bain Premiere Mortgage
By Dana Bain
(Premiere Mortgage Services Inc.)
http://www.bainmortgage.com/MortgageMarketWeekInReview Newsletter-June 30th, 2014 Provided by Dana Bain Dana BainPremiere Mortgage Services www.BainMortgage.com 11 Malvern Hill RoadSterling, MA 01564Phone: (978) 422-2311Fax: (978) 422-2313E-Mail: email@example.com Market CommentMortgage bond prices finished the week positive putting downward pressure on mortgage rates. Housing data released early in the week was positive. Both new and existing home sales were better than expected. Gross Domestic Product (GDP), a summation of economic output, showed the US economy contracted 2.9% in Q1, 2014. That was the worst contraction since 2009 and was blamed on the hard winter. The Treasury auctions of 2,5 and 7-year notes showed tepid demand from investors, a worrisome trend if i...