This week’s mortgage rates from Freddie Mac put the 30 Year Fixed at a national average of 4.76%, down from 4.88% the week prior.
Continue Reading →It’s been a great few days for buyers in terms of home affordability.
On the most common choice of loan for first time home buyers is the 30 year fixed. Continue Reading →
“What are current mortgage rates?”
It’s probably one of the most common questions asked by home buyers and home owners.
Continue Reading →Mortgage rates are moving quicker than the news can accurately report them. This week’s Freddie Mac mortgage rate survey is an excellent example.
Continue Reading →This is commonly referred to as the “the jobs report” and the data strongly influences stocks and bonds and therefore is highly influential with home affordability figures. Especially in today’s economic climate and we saw mortgage rates dip lower on Friday.
Continue Reading →The average contract interest rate for the 30 Year dropped from 4.50% to 4.43%. BUT, the points dropped from 1.34 to .96 (.38%, or almost $950 on a $250,000 loan). All rates and fees measured by the survey are for 80% loans and therefore avoid Loan Level Price Adjustments
Continue Reading →For the first time in 6 weeks, the rate rally failed to continue. In general, stocks gained, mortgage rates lost. Slightly.
On the week, we closed down about 12 basis points, but it wasn’t without volatility.
The chart to the right is the [...]
Continue Reading →Small changes in mortgage rates can mean big changes. Just a 0.25% means $45/month on a $300,000 home. Even bigger, it means over $16,000 of more or less total interest over the life of the loan.
The problem is that the “news” increasingly likes to cover [...]
Continue Reading →We’re going to open the week right on a tipping point on most loans. Depending on credit score, property type and all the normal details, the 30 Year Fixed rates were trying to break past that 5% mark when the market opened today.
We [...]
Continue Reading →Today’s interest rates are slightly higher than Friday’s. Inflation was contained, but even subtle increases can cause rates to jump. In the past few weeks, bonds have risen back to the top of their trading range.
That means that rates are more likely to go up than go down. Added to it, President Obama announced [...]
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