Category: Interest Rates
After weeks of falling, the average interest rate on a 30-year fixed-rate home mortgage rose slightly this week, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday. And the average rate on a 15-year fixed-rate mortgage remained unchanged from last week. “While overall employment was down in August, private nonfarm payrolls [...]
The national, 30-year fixed-mortgage rate (FRM) slightly decreased from a week earlier, setting a new record low average of 4.26 percent. Regionally, 30-year rates vary, but the majority of states witnessed a deflation. Most large states saw a decline in rates: California’s current rate of 4.28% is down from 4.3% last week; Texas’ at 4.23% [...]
Mortgage Rates Could Spike as Federal Reserve Program Expires As the spring real estate season kicks in and the tax credit deadline for sale agreements approaches, the government is ending a program that has kept interest rates low and housing-affordability levels high for months. On March 31, the Federal Reserve will stop buying mortgage-backed securities from [...]
What’s Ahead For Mortgage Rates This Week : June 1, 2010 Mortgage markets worsened last week as concerned of a global debt crisis lessened and stock markets rebounded. The gains in stocks came at the expense of bonds — including mortgage bonds. Conforming and FHA mortgage rates rose in California for the first time in [...]
Shopping multiple lenders for a “good mortgage rate” can sometimes save you an 1/8th of a percent on your rate and/or a few hundred dollars in fees. However, when it comes to getting the best mortgage rate, you’re going to need more than good research skills. You’re going to need some luck. Mortgage rates for people [...]
Mortgage markets improved last week — but barely — as ongoing doubt surrounding the health of Greece and the Euro pushed additional investors into safe assets, including mortgage bonds. Mortgage rates were wildly volatile between Monday and Friday before closing the week slightly better than their best levels of the year. It’s the 3rd straight [...]
Understanding What Causes Interest Rate Movement Consumers are often misled when it comes to the subject of the Federal Reserve and how it affects mortgage interest rates. Often the media is the culprit causing the confusion. In the last few years, the Fed has taken action that caused mortgage interest rates to move in a [...]
Mortgage rates are starting to fall after 4 straight weeks of increasing rates. Rates for long-term mortgages dropped this week but still remained above 5 percent, Freddie Mac said Thursday. The average rate on a 30-year fixed rate mortgage was 5.07 percent this week, down from 5.21 percent a week earlier, a survey by the [...]
Interest Rates on 30 Year Fixed Mortgages fell for the first time since December 2006 due to lower than expect job growth. 30-year fixed-rate mortgages averaged 6.28 percent this week, down from 6.34 percent last week. Last week’s level had been the highest for mortgages since October as reported by Freddie Mac. This rate drop [...]
It appears that banks offering fixed income investments are preparing for an increase in interest rates. Besides watching the bond market, unemployment figures and other key economic reports a less mind boggling approach is to watch the interest rates of fixed income investments such as the Certificates of Deposits (CD’s). I keep an eye on [...]
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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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