Downward Trend Continues for Mortgage Rates

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first_img April 25, 2013 432 Views in Data, Origination Mortgage rates dipped this week–some of them hitting record lows–as unstable economic news left investors with visions of another potential economic slowdown.[IMAGE]””Freddie Mac’s””:http://www.freddiemac.com/ weekly Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 3.40 percent (0.8 point) for the week ending April 25, down slightly from 3.41 percent last week. Last year at this time, the 30-year fixed averaged 3.88 percent.Meanwhile, the 15-year FRM averaged 2.61 percent (0.7 point), a new all-time record low. Last week’s average was 2.64 percent. The previous record low for the 15-year fixed was 2.63 percent, first set the week of November 21, 2012.In adjustable rates, the 5-year hybrid adjustable-rate mortgage (ARM) averaged 2.58 percent (0.5 point) this week, down from 2.60 percent last week, while the 1-year ARM averaged 2.62 percent (0.3 point), down from 2.63 percent previously. This week’s 5-year ARM average was also a new low in that category, Freddie Mac reported.””Bankrate.com””:http://www.bankrate.com/ also reported its sixth straight week of declines. According to the site’s weekly national survey, the benchmark 30-year fixed rate retreated to a four-month low of 3.57 percent, while the 15-year fixed fell to a new record low of 2.80 percent.The 5/1 ARM slipped slightly to 2.65 percent, meanwhile.””Mortgage rates continue to trend lower as uneven economic data has raised concerns about another economic slowdown,”” Bankrate said in a release. “”The accompanying stock market volatility has also been good for mortgage rates by increasing demand for both government- and mortgage-backed bonds, to which mortgage rates are closely related.”” Sharecenter_img Downward Trend Continues for Mortgage Rates Agents & Brokers Attorneys & Title Companies Bankrate Freddie Mac Investors Lenders & Servicers Mortgage Rates Service Providers 2013-04-25 Tory Barringerlast_img

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Brookes victorious

first_imgOxford Brookes has become one of just eight remaining teams in the BBC’s University Challenge after beating Christ’s College Cambridge in the quarter-final last Monday. The team have been training for five months with coach Dr Ian Bayley, a Senior Lecturer in Computing and former DPhil student of Balliol College. He has appeared on the show twice himself, in 1997 and 2001, when working for other universities.Dr Bayley said that “the team’s talent was apparent” from the early stages. He remarked that “this is a great result against one of the country’s top universities and it shows how incredibly talented our students can be.”The team was helped by Oxford University students, being invited to take part in Oxford’s Intercollegiate Quiz and taking on Exeter and St John’s in practice matches.Oxford’s Magdalen College is also through to the quarter finals of the competition.last_img

Win-win week

first_imgPlans for the second National Craft Bakers’ Week (NCBW), which proved a big hit last year, are well under way. In fact, the overwhelming interest in last year’s debut celebration of bakers took even the organisers by surprise and proved that schools, the public and local media are still fascinated to know more about baking and the industry. So NCBW provides the ideal forum for bakers to engage with their communities and develop their marketing potential to the full.Nationally, craft bakeries and baked products enjoyed a week in the spotlight something that had never before been achieved. The tag ’the shop that never sleeps’ captured the spirit of what makes bakers so different to other food outlets, and will remain the strapline for the week this year. The event helped remind consumers that bakers are perfectly placed to capitalise on the popular trends of local, fresh and community-minded food.”The National Association of Master Bakers (NAMB) is very excited to be launching the second year of National Craft Bakers’ Week at the Baking Industry Exhibition in March,” says Gill Brooks-Lonican, chief executive officer of the NAMB. “It will give bakers an opportunity to show their customers just how good their products are and explain why they should be supporting their local craft baker. Last year saw staff dressing up in themed t-shirts depicting the NCBW logo, shops decorated, special hessian bags provided by BFP, coverage on local TV and national radio, and local schools getting involved.”It’s not just about raising the profile of bakers in the community. Many of those who got involved saw a benefit to the bottom line. “Members expressed a big increase in takings for the week,” says Brooks-Lonican. “Now it’s up to members the more theyput in, the more benefits they get out. Colouring competitions, posters and window stickers will be available shortly. I urge all members to enter into the spirit of the week this year.”So get planning now, and make the most of National Craft Bakers’ Week, from 813 June. Keep reading British Baker over the coming months for updates or check out www.bakeryinfo.co.uk.We are delighted to build on the success of last year’s event and strengthen our strong relationships with the national associations and industry by getting behind National Craft Bakers’ Week, helping to design point-of-sale materials, posters and window stickers to promote the event in your shops. Visit www.bakeryinfo.co.uk to find out more about the week’s events and to download logos from 21 March.In recent years, the independent craft bakery sector has come under pressure from various sectors within the industry. This has led to many companies struggling and has created a poor perception of the industry to customers and potential employees. Last year, various members within the baking industry agreed that an action group should be set up to address some of these issues. This group consists of all the supporters you see on this page, who have been meeting for the past year to discuss the various ways of assisting craft bakers within the UK.The NAMB urges all members to take part in this very exciting second National Craft Bakers’ Week. Free marketing kits will be given to all, as well as the support you need to promote your shop. The NAMB has t-shirts and aprons for purchase to promote the week. Extensive advertising starts now!The Bako Group is again delighted to support National Craft Bakers’ Week. As the UK’s largest bakery wholesaler, we believe it is important for us to help the craft baker to succeed we are sure that the British public welcome freshly made produce, available daily, from real craftsmen.The specialist skills of craft bakers should be celebrated and National Craft Bakers’ Week will help us to do that. The independent baker has a social role in the local community, which cannot be replaced so anything that helps them to raise their profile can only be a good thing. Our field-based and telesales teams will actively promote the event and we will work hard with our suppliers towards an even bigger week than last year.Bread is the staff of life, but making and baking it is something that people take for granted as they are swept along by the pace of 2lst-century life. At BFP Wholesale, we think that National Craft Bakers’ Week is the ideal time to stop and remind ourselves of the heritage and importance of this unique tradition. Baking is one of the very few remaining artisanal crafts where the skill really is in the hands, and where the feeling between fingertips and dough counts just as much as the quality of the ingredients used. BFP Wholesale will be getting actively involved in National Craft Bakers’ Week, spreading the word and running some exciting promotions.British Bakels is delighted to be part of this initiative to assist the craft bakery in the UK for a second year. The profile of the craft baker still requires to be enhanced and the continued plan to target schoolchildren will help spread the message to the grass roots.It will get across the importance of locally produced quality products, with a wider product choice and freshness. We hope that the interest through the children can radiate through to their parents, who will show more interest in shopping at their local craft baker.We saw success last year, but more effort is required for the project to develop further. It is important that more master bakers play their part in making the whole exercise successful, using the tools available.The largest market for California Raisins in the UK is the baking industry. Second only to promoting the health benefits and versatility of our dried fruit in all areas of the food industry, and to consumers both young and old, the California Raisin administrative committee recognises the contribution craft bakeries make to the community and take great pride in supporting them. The individual craft baker is one of the UK’s oldest traditions and National Craft Bakers’ Week is the perfect platform to promote the hard work and quality your business stands for. Whether it’s with POS material, PR or general advice, California Raisins is here to help enhance your business any way we can.CSM United Kingdom, with its bakery brands Craigmillar and Arkady, has a heritage spanning over 135 years of working in partnership with independent craft bakers. Our products and services are designed to make our customers’ lives easier and give them confidence in their bakery skills and success in their community.National Craft Bakers’ Week celebrates the bakers’ creativity and raises awareness of those skills to inspire others and involve new audiences in the ’freshly baked’ and ’handmade’ experiences that are synonymous with craft bakery. This opportunity to educate and involve consumers and bakers of the future in ’the shop that never sleeps’, through events, promotions and local media activity, should not be missed.Although the ’buy local’ message has received strong media coverage and government support, most shoppers haven’t yet incorporated it into their lifestyles. Craft bakers are an integral fixture on our high streets. Yet research shows that only 25% of shoppers are buying local baked goods (Mintel). Craft bakers offer superior quality, freshness, low food miles and the personal service that shoppers prefer.National Craft Bakers’ Week is a great opportunity to remind shoppers to buy local and support their local community. Macphie believes in supporting this initiative and will be running special promotions and giving lots of exciting recipe ideas to help craft bakers cash in on the opportunity.Marriage’s is delighted to support National Craft Bakers’ Week for a second year. We hope it will encourage more consumers to shop at their local independent bakery, after they have discovered the wide range of fresh handmade breads and cakes, and personal service on offer.As independent family-run flour millers for over 185 years, Marriage’s is committed to supporting craft bakers; we also sponsor the Essex, Suffolk and Norfolk Baker of the Year awards. We hope National Craft Bakers’ Week 2010 will continue to help educate the public about craft bakers’ hard work and skill, and raise the profile of their businesses.For 90 years, the roots of the Puratos business have been craft bakers and we are committed to providing them with innovative and cost-effective products and solutions, in order to differentiate themselves. 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