interest rates: Interest Rate Update - 03-27-11
- 03/27/11 04:48 PM
The popular 30-year mortgage rate, as well as other rates, were on the rise this week, but still remain at low levels, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.81 percent this week, up from last week’s 4.76 percent. Last year at this time, the 30-year mortgage rate averaged 4.99 percent. “The rate uptick was related to higher than anticipated inflation data for February and ongoing geopolitical concerns,” says Frank Nothaft, chief economist at Freddie Mac.
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interest rates: Interest Rate Update - 02/13/11
- 02/13/11 03:43 AM
Interest Rate Update - 02/13/011
The average rate on a 30-year mortgage moved past 5% this week, reaching the highest level in nine months.
Home-loan rates have been surging since November, tracking yields on Treasury bonds, as the economy has shown increasing signs of strength.
The 30-year rate was up from a record low 4.17% in November and up nearly a quarter-point from last week's 4.81% average.
The average is at its highest level since a 5.06% reading in late April. Last year at this time, it was 4.97%.
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interest rates: Interest Rate Update - 01/23/011
- 01/23/11 03:57 PM
Interest Rate Update - 01/23/011
Home mortgage rates changed only just a bit this week.
The 30-year fixed rate mortgage rose a little, while the 15-year rates fell slightly.
Hey, if you can pay off your mortgage in 15 years, now's the time to do it!!
I have quite a few clients who paid off their 30-year mortgages early, some by even a decade merely by adding to their principal payment each month or even once or twice a year!
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interest rates: Mortgage Interest Rate Update - 12-11-10
- 12/11/10 05:42 AM
Mortgage Interest Rate Update - 12-11-10
Interest rates are still great, althought we have seen just a slight increase since last month.
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interest rates: I get funny looks when I try to explain the benefits of a buy-down program. "Hello?! Is this thing on?!!....."
- 11/04/10 05:17 PM
I get funny looks when I try to explain the benefits of a buy-down program. "Hello?! Is this thing on?!!....."
Many times, when I feel it is appropriate, I will talk to clients about utilizing a buy-down program when purchasing a property.
The basic premise is that the seller provides a concession in the form of a credit at the close of escrow, to reduce or "buy down" the buyer's interest rate for the first couple of years of their mortgage.
It's a great tool and a buyer can REALLY reduce their payments for the first couple of years.
All the … (34 comments)
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interest rates: "2 Over 1" Buydown Program - What is it and how can your buyers/sellers use it as a deal-saving tool?
- 10/17/10 09:46 AM
"2 Over 1" Buydown Program - What is it and how can your buyers/sellers use it as a deal-saving tool?
Just wanted to share this loan tool that can serve as a powerful incentive for your buyers, and also a potential deal-saving tool.
A buy-down program is method you can use in your escrow where the seller pays a flat amount in concessions to reduce, or "buy-down" the interest rate for the buyer on their home.
In essence, it's sort of like the seller is giving credit from the proceeds of the sale to pay additional "points" for the buyer. But … (6 comments)
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interest rates: Interest Rate Update - 10-10-10
- 10/10/10 04:51 PM
Interest Rate Update - 10/10/10
Mortgage interest rates continue to provide affordable opportunities for buyers. 30-year fixed conforming loans are at 4.25%. If you are in a position to pay off your home within 15 years, then it is just outstanding with rates available at 3.625%. Adjustable Rate Loans actually have a "2" in front of them!!
Once again, the common theme here is "IT'S A GREAT TIME TO BUY"
I'm still shooting for buying property in Hawaii!! With rates like this, who knows?
Here's a chart of where average rates are at:
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interest rates: Interest Rate Update - 09/07/10 - This is INSANE!!
- 09/07/10 02:26 PM
Interest Rate Update - 09/07/10
Mortgage Interest Rates continue to be mind-blowing.
I mean, look at the 5-year adjustable rate loan at 3.13%
Hello?!! Any lower, then it would have a "2" in front of it, and that's just insane!
Check out some of these great rates offered from Cohen Financial:
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interest rates: Mortgage Rates / Interest Rate Update - 08/09/10
- 08/09/10 10:59 AM
Rates are still unbelievable!
Just a note that after September 1st, FHA loan payments will increase slightly due to the increased MMI.
And the September 1st date is for the FHA Case number, not the date you are under contract.
So if you have buyers or you are a buyer yourself, get that FHA Case number going from your lender soon!
Here are this week's rates:
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interest rates: Interest Rate Update 07-13-10
- 07/13/10 12:00 PM
Below are some great rates for the week. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.25% for all loans up to $729,750 with a 3.5% down payment-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.5% with 1 Point
30 Year Fixed High Balance Conforming---$417,001 to $729,750: 4.625% with 1 Point
30 Year Fixed Jumbo---$729,751 to $2,000,000 … (0 comments)
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interest rates: Interest Rate Update 04-26-10
- 04/26/10 05:08 PM
Interest rates were mixed again this week, but ended the week well. In the news, Greece asked the European Union and International Monetary Fund to activate its huge bailout. The news is relieving some of the uncertainty in the markets. Here at home, Durable Goods Orders grew at its fastest rate since December 2007 when volatile transportation numbers are excluded. New Home Sales also experienced a huge increase and beat expectations in March.
Below are some rates for the weekend. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the … (1 comments)
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interest rates: Interest Rate Update 04/17/10
- 04/17/10 04:39 PM
Interest Rate Update 04/17/10
Interest rates improved this week for the most part, in spite of mixed economic news. The 30-Year Fixed Conforming Rate is under 5% again, so that is great. Below are some rates for the weekend. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year … (0 comments)
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interest rates: Interest Rate Update - 04/05/10
- 04/05/10 06:20 AM
Interest rates were quite volatile again this week, and ended the week higher for conventional loans under $729,750.
Jumbo rates improved, and we have some excellent rates as shown below. The increase in rates is primarily as a result of the positive headline numbers of the Jobs Report. According to the Report, 162,000 jobs were created in March, making it the biggest one-month increase in 3 years. Without the support of the Fed's Mortgage Backed Securites purchase program, interest rates are expected to gradually head higher over time.
Below are some rates for the weekend. These rates are typical for the … (1 comments)
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interest rates: Interest Rate Update 03-19-10
- 03/19/10 04:17 PM
Interest rates were stable this week, and are still excellent! Rates may improve next week depending upon the highly publicized health care bill being voted on this weekend. That vote could be the catalyst that ignites the correction in stocks lower, which could help the bond markets, and in turn, interest rates, next week.
Below are some rates for the weekend. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment. Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all … (1 comments)
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interest rates: Interest Rate Update 03-14-10
- 03/14/10 04:18 AM
Interest rates were stable this week, and are still excellent!
Below are some rates for the week end. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point
30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.0% with 1 Point
30 … (0 comments)
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interest rates: Interest Rate Update 03/07/10
- 03/07/10 01:53 AM
Interest rates were slightly volatile again week, yet they are still terrific!
There was mixed economic news throughout the week.
These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point
30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.0% with 1 … (0 comments)
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interest rates: Interest Rate Update 02-27-10
- 02/26/10 09:59 PM
These rates are typical for the PURCHASE SFR borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.375% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers. I do not recall ever seeing FHA ARM rates that low.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point
30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.0% with 1 Point
30 Year Fixed Jumbo---$729,751 to $1,000,000: 5.5% with … (4 comments)
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interest rates: Interest Rate Update 02/20/10
- 02/19/10 11:29 PM
Conforming and FHA Fixed Rates increased this week, while Jumbo Rates decreased. That is quite unusual. The rate increase occurred primarily as a result of inflationary fears. The Fed raised the Discount Rate - ie: the rate which eligible banks are charged to borrow short-term funds from a Federal Reserve Bank - from .50% to .75%. They cited continued improvement in financial market conditions warranted the move. The Fed also went on to say the raise is not expected to lead to tighter financial conditions for households or businesses, and does not signal any change in the outlook for the economy … (3 comments)
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interest rates: Interest Rate Update 02/13/10
- 02/13/10 01:05 PM
Interest rates were quite volatile this week, and did end the week up about 1/8 from last week for loans under $729,750. Jumbo rates did not change. Nevertheless, the rates are still terrific.
These rates are typical for the PURCHASE SFR borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment.
Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year Fixed Conforming---$417,000 and Below: 4.875% with … (0 comments)
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interest rates: Interest Rate Update 01-08-10
- 02/08/10 12:51 AM
Interest rates dropped once again this week, so that is terrific news. The main reason was the unfortunate unemployment numbers.
The Labor Department reported today that there were 20,000 jobs lost in January, which was worse than expectations.
These rates are typical for the PURCHASE borrower with excellent credit and a sizable down payment, exclusive of FHA for the down payment. Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.
Conventional Loans:
30 Year Fixed … (3 comments)
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The popular 30-year mortgage rate, as well as other rates, were on the rise this week, but still remain at low levels, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgage averaged 4.81 percent this week, up from last week’s 4.76 percent. Last year at this time, the 30-year mortgage rate averaged 4.99 percent. “The rate uptick was related to higher than anticipated inflation data for February and ongoing geopolitical concerns,” says Frank Nothaft, chief economist at Freddie Mac.
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