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mortgage rates: Mortgage Rates Fall Again - 02/02/12 04:53 PM
According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), mortgage rates have fallen to historic lows yet again.
Frank Nothaft, vice president and chief economist at Freddie Mac, attributes the falling rates to an economy that's growing slower than experts had hoped for:
"Most mortgage rates eased to all-time record lows this week as fourth quarter growth in the economy fell short of market predictions," Nothaft writes. "The Gross Domestic Product (GDP) rose 2.8 percent in the final three months of 2011, below the market consensus forecase of 3.0 percent, while consumer spending in December was flat."
"One bright spot, … (2 comments)

mortgage rates: Mortgage Interest Rate Update: Are We at the Bottom? - 10/01/10 10:54 AM
It is no news that mortgage rates are astoundingly low, but it may be a surprise what many experts say we should do about that.

Early September saw mortgage interest rates fall through, what we already thought was, a pretty low floor.  I refinanced to get a 3.75 percent, 15-year rate.  While I am only saving about $59 dollars a month, it made me think about what would happen if everybody was able to refinance to a lower rate.
Bill Gross, founder and co-CIO of PIMCO, and Dick Lepre, a broker with RPM Mortgage, agree that the best way for … (0 comments)

mortgage rates: Refinancing Mortgages With Falling Home Values And The Revised Obama Plan - 07/03/09 08:14 AM
Falling home values have sure hurt homeowners. As interest rates have come down, these same homeowners are trying to refinance their loans but are having trouble due to the lower value of their homes. Recent Obama administration proposals are attempting to help homeowners.
Before, if your loan was up to 105 percent of the value of your home you could take advantage of the Obama Making Home Affordable program, this past week that amount was raised to 125 percent. We'll see if the continued slide in home prices and the new plan can help homeowners.
Question: I have two mortgages on … (0 comments)

mortgage rates: Mortgage Interest Rate Average Falls To 4.78 Percent - 04/03/09 09:45 AM
Interest rates for 30-year fixed rate mortgages averaged 4.78 percent this week, according to Freddie Mac. That's down from an average 4.85 percent last week.
That's the lowest rate since 1971, when Freddie Mac began tracking mortgage interest rates on a weekly basis.
Here are some other average rates from Freddie Mac:
* 15-year fixed rate mortgages - 4.52 percent average this week, down from 4.58 percent
* 5-year hybrid Treasury-indexed adjustable rate mortgage (ARM) - 4.92 percent, down from 4.96 percent
* 1-year Treasury-indexed ARMs - 4.75 percent, down from 4.85 percent
All three of these averages are the lowest … (2 comments)

mortgage rates: Before You Buy: What Do You Want And Need - 03/07/09 05:03 PM
Knowing Your Wants And Needs Helps Home Buyers Identify The Right House To Buy
Before you buy, you should figure out what you want in a home. What are your must-haves and deal-breakers when buying a home?
Creating a home buying wish list can also be a test for your relationship, if you're buying a home with a partner. Learn how to put together an effective list of your needs and wants for buying a home.
What makes a house worth buying? It goes back to the basics: Your wants and needs.
With so many homes for sale, it's easy … (0 comments)

mortgage rates: LLC Limits Type Of Mortgage Lenders You Can Use - 02/23/09 12:37 AM
Summary: When you're a real estate investor you may decide you want to create a limited liability company to hold your real estate assets and to protect you. When you use an LLC to hold your properties, you're limited in what kind of mortgage lender you can work with to get a mortgage. Mortgage lenders have to specialize in either residential or commercial real estate loans.
Q: I formed an LLC for real estate purposes. Now my mortgage guy says his company does not do mortgages to LLCs. Is that common? Should I stop putting rental properties in the LLC? What … (1 comments)

 

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