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-0.000628084342754537 -8.97263346791467E-05 0.000717810677433812 -0.000717810677433812 -0.00107671601615078 0.00358905338716919 -0.000628084342754537 0.00107671601615078
Stock impact report

July Mortgage Rate Forecast: Buyers Retreat as Rates Rebound [CNET News]

First American Corporation (New) (FAF) 
Last first american corporation (new) earnings: 4/23 06:45 am Check Earnings Report
US:NYSE Investor Relations: investors.firstam.com
Company Research Source: CNET News
As soon as rates move up again, mortgage activity goes down. The past few weeks offer a textbook example. When rates fell to around 6.7% (the lowest level in months) in early July, applications for home loans promptly ticked up, per the Mortgage Bankers Association . But when the average 30-year fixed rate jumped to around 6.8% last week, mortgage activity plummeted 10% "Purchase applications remained sensitive to both the uncertain economic outlook and the volatility in rates," said Joel Kan, MBA's vice president and deputy chief economist, in a statement. The key to understanding mortgage rate movement is by looking at inflation and labor data and how that affects the bond market. Mortgage interest rates are closely tied to the 10-year Treasury. Bond market investors drive yields (rates) higher or lower based on their expectations for inflation, unemployment, Federal Reserve policy decisions and government debt. Last month's surprisingly low unemployment rate reduced the pro Show less Read more
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