interest rates: What’s Ahead For Mortgage Rates This Week : February 28, 2011
- 02/28/11 06:20 AM
Mortgage markets improved last week as Wall Street’s concerns about the Middle East trumped its fears of inflation. Conforming and FHA mortgage rates in AZ fell to a 3-week low. Last week marked the second straight week in which mortgage rates fell, a streak that follows four straight weeks of climbing mortgage rates. It’s been a bout of good fortune for rate shoppers and home buyers. In addition, according to Freddie Mac’s weekly mortgage rate survey, the average spread between conforming 30-year fixed rate mortgages and 5-year ARMs has widened further. The two benchmark products are now separated by 1.15%. It’s the largest … (0 comments)
interest rates: What’s Ahead For Mortgage Rates This Week : February 14, 2011
- 02/14/11 04:12 AM
Mortgage markets worsened terribly last week. Amid more reports of an improving economy and fears of pending inflation, mortgage rates skyrocketed to their highest levels since April 2010. According to Freddie Mac, mortgage rates made their largest 1-week jump in more than a year last week, tacking on 0.24 percent and bringing the average national 30-year fixed mortgage rate up to 5.05%. In some markets, rates are even higher. Since bottoming out in Freddie Mac’s November 11 survey, conforming, 30-year fixed mortgage rates are now higher by close to a full percentage point. Home buyers in Phoenix and across the nation … (0 comments)
interest rates: What’s Ahead For Mortgage Rates This Week : January 31, 2011
- 01/31/11 03:59 AM
Mortgage markets improved this week as positive economic data was overshadowed by geopolitical strife. A flight-to-quality drove buy-side activity in mortgage bond markets, which, in turn, helped conforming rates fall across the state of AZ. Last week marks the first time this year that mortgage rates fell on a week-over-week basis, and considering why rates fell, it points to the fragile nature of the global economy. By all accounts, last week showed that the U.S. economy is in recovery. Housing data rises to its best levels in 8 months (LA Times) Consumer sentiment hit a 7-month high (NPR) Business investment increased … (1 comments)
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Mortgage markets improved last week as Wall Street’s concerns about the Middle East trumped its fears of inflation. Conforming and FHA mortgage rates in AZ fell to a 3-week low. Last week marked the second straight week in which mortgage rates fell, a streak that follows four straight weeks of climbing mortgage rates. It’s been a bout of good fortune for rate shoppers and home buyers. In addition, according to Freddie Mac’s weekly mortgage rate survey, the average spread between conforming 30-year fixed rate mortgages and 5-year ARMs has widened further. The two benchmark products are now separated by 1.15%. It’s the largest … (0 comments)
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