Interest rates fell in the bond market Thursday after concerns grew that a bailout for Greece might not be enough to help the country through its fiscal crisis.
Renewed questions about the Greek government’s ability to make its debt payments have pushed its borrowing costs higher. Investors outside Greece don’t want problems there to spill to other markets. That drove up demand for Treasurys. Read more.
San Francisco Federal Reserve President Janet Yellen said her own thinking has turned the corner, and she’s now confident “the economy is on the right track,” according to remarks prepared for delivery before a meeting of Financial Executives International.
“I expect the pace of recovery to gain momentum over the course of this year and next as households and businesses regain confidence, overall financial conditions continue to improve, and lenders increase the supply of credit,” she said, in the prepared text. Read more.
After rising for a month, the average interest rate for a 30-year fixed loan declined to 5.07% this past week from 5.21% the previous week, Freddie Mac said in its weekly survey of lenders.
Fixed-rate 15-year mortgages, a popular option for people refinancing to pay off their homes more quickly, averaged 4.40%, down from 4.52%. Read more.
Interest rates fell in the bond market Monday ahead of a parade of corporate earnings reports.
The profit levels and forecasts from companies will give investors important clues about the strength of the economy. The uncertainty about the outlook made some investors cautious and increased demand for safe investments. Read more.
The Obama mortgage debt relief plan was designed to help homeowners stay in their homes and avoid foreclosure. If you have had difficulty making your monthly mortgage payment then you should consider going through a mortgage refinance to lower your interest rate. Another option is going through home loan modification. Read more.