Category: Interest Rates
It’s a great time for Palm Springs buyers and homeowners to Reduce Costs with a 15 Year Mortgage. According to Freddie Mac’s weekly Primary Mortgage Market Survey, the relative “discount” of a 15-year fixed rate loan as compared to a comparable 30-year product is the largest in recorded history. The interest rate spread between the [...]
Rates ended last week up .125%, which is the smallest increment consumer rates can move. So if you call that a roughly flat week, then it’s the sixth week of flat rates. But this rise is the result of an inflationary tone building in markets, and the latest business and consumer inflation data are released [...]
Palm Springs Mortgage interest rates increased this week, with the average on 30-year fixed-rate mortgages rising slightly to 4.87%, according to Freddie Mac’s weekly survey. Palm Springs Mortgage interest rates generally track U.S. bond yields, which move inversely to Treasury prices. Rates have climbed this year after slumping most of last year when prices rallies [...]
For the second straight week, mortgage rates were on the rise, but still remain overall low, reports Freddie Mac in its weekly mortgage market survey. While interest rates for the 30-year fixed-rate still stand below 5 percent, rates inched up slightly this week averaging 4.86 percent. Last week, rates averaged 4.81 percent. Last year at [...]
On-Line Interest Rates, Don’t Be Fooled Many consumers turn to sites that publish On-Line Interest Rates, Don’t be Fooled by their Tom Foolery and deceptive practices! Recently @ERate began following me on Twitter, they’re profile reads in part: “…Providing Twitter Rate Alerts as Mortgage Rates adjust and Relevant Mortgage News and other Financial News” I [...]
Mortgage markets worsened last week as Wall Street came to terms with the expanding economy; and realized the Federal Reserve may be trying to induce inflation. Better-than-expected retail sales and positive job growth buoyed stock markets and sank bonds. Mortgage rates in California rose for the 4th time in 5 weeks last week, extending a [...]
Mortgage Rates Head Higher: 30 Year Mortgage and Refinance Rates at 4.49% Mortgage and refinance rates continue to increase. 30 year conforming mortgage and refinance rates are averaging 4.49 percent, up from an average mortgage and refinance rate of 4.46 percent. 30 year home mortgage and home refinance rates in Idaho are higher averaging 4.53 [...]
The last time mortgage interest rates were as low as they are now, you could buy a gallon of gas for 19 cents, and you could buy a loaf of bread for 16 cents. So what’s turned the home loan clock back to 1951? The federal government’s attempt to fight a stubborn economy that seems stuck [...]
Already low mortgage rates will probably stay low or even go lower in response to the Federal Reserve’s plan for more quantitative easing. What is Quantitative Easing? In the second round of quantitative easing, also known as QE2, the Fed is expected to purchase anywhere from $500 billion to $1 trillion in US Treasuries in an [...]
It’ll take a steep drop in rates to get more buyers off the fence Imagine financing a home purchase with a no-interest mortgage. You’d probably never want to move again. Granted, it’s doubtful you’ll ever have that luxury. But if rates continue to drop, as some in the mortgage industry suggest they may — especially [...]
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Average Home Prices Slip in Coachella Valley
I’ve been reading a lot of information lately about our current market conditions from other REALTORS® who are claiming an increase is sales price and number of homes sold. I would scratch my head and ask where they were getting their numbers. Turns out their numbers are coming from national statistics. Real estate sales are [...]
Mortgage Debt Tax Relief Program Ending Soon
The Mortgage Debt Relief Act of 2007 the IRS would not come after you for your taxable amount if you had an upside-down unpaid principle as a result of loan modification, short sale or foreclosure depending on your tax bracket, let’s say you were $100,000 short on your mortgage you could be responsible for as [...]
Is your REALTOR® connected? No, I don’t mean in the MobWives fashion, if that’s what you thought, you’re watching too much reality TV. As an active Palm Springs REALTOR® I believe it’s important to take advantage of the technology available to today’s real estate professional. Everything that required an agent to go back to the [...]
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