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mortgage rate update: Mortgage Rate Update -- THE FLOOR IS CLIMBING! THE FLOOR IS CLIMBING! - 05/21/09 05:41 PM
Mortgage Rates have gotten a little squirrelly of late, and are up about .25% from my last posting, here (yes, you must read my previous post -- it's the ol' bait-and-switch).
Many Economists (whoever that guy is, he sure is mysterious) say that rates are likely going to climb to 6% by the end of the year.
THIS COULD BE IT PEOPLE!
Ok, that may be slightly dramatic, but rates always go up faster than they go down, so if you're getting close to buying or refinancing...
"Hello, this is James Wirth with your red carpet room service. It's now time … (4 comments)
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mortgage rate update: Mortgage Rate Update -- Let's give 'em somethin' to talk about! - 05/13/09 07:11 PM
Interest rates today remind me of my 1 1/2 year-old... I turn my back for ONE SECOND and he falls down! Based on a number of factors including unemployment numbers coming in worse than expected, mortgage rates went down today, closing at the recent low:
4.5% Rate / 4.673% APRP & I payment: $2,112.88Loan amount: $417,000Down payment/equity: 20%Loan Program: 30 Year Fixed
Rates are as of 5/13/09. Subject to change without notice and most likely they will, but I will be ready in the morning in case they open where they closed! Anyone care to lock a rate? Anyone? Bueller? Bueller?
… (0 comments)
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mortgage rate update: Mortgage Rate Update -- "He didn't fall?!? Inconceivable!' - 04/29/09 06:43 PM
For any fellow Princess Bride fans, that classic line can be used in myriad ways. In this case, I'm absolutely flabbergasted that we haven't seen an increase in mortgage rates. In fact, they might have smidged down. This is to me absolutely, positively, and unequivocally, inconceivable.
Oh no wait, now they're up again.
Oops -- they've inched down. Now back up.
And so it has gone for the past couple of weeks -- down a smidge, up two smidges, down half of a smidge, and so on. Rates are basically unchanged and vary by down payment, loan program, discount points etc. … (0 comments)
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mortgage rate update: Mortgage Rate Update -- 'she canno' hold on much longah' cap'n! - 04/17/09 06:32 PM
Yes yes, another trek reference. Not that anyone's counting *sigh*
The week started lower, held at the hump and lost momentum in the last couple of days. Here's where we wound up:
4.875% Rate / 5.026% APRLoan amount: $417,000Down payment/equity: 20%Loan program: 30 Year FixedMinimum credit score: 720
Everything points to this being the bottom for rates -- well, except that ONE Bank of America announcement that said they expected 4.125% rates. Hey BofA, here's an idea -- take that TARP money and MAKE NEW LOANS!
Ok, I apologize. My usual diplomacy is nowhere to be found.
Thanks for reading!
… (2 comments)
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mortgage rate update: Mortgage Rate Update -- heading up and sideways - 02/26/09 06:40 PM
Rates have had a bad run over the last couple of days and we're back solidly into the fives. Well, 5 at least...
5% Rate / 5.152% APRP&I payment: $2,238.55Loan amount: $417,000Equity: 20% / Credit Score: 740Loan Program: 30 Year Fixed
Hey, looks like we are back to a maximum conforming jumbo loan amount of $567,500. 10% down for a conventional loan, 3.5% down for an FHA loan...
And for first time home buyers, the 2009 tax credit can be applied to 2008 taxes if you haven't already filed or you can file an amended return!
As always, thanks for reading … (0 comments)
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mortgage rate update: Mortgage Rate Update -- Friday Wrap-up - 02/20/09 07:35 PM
Foreclosures: bail out or fail out?
While many of the details have yet to be made clear regarding the foreclosure rescue plan, there is certainly no lack of media coverage. The article was written for the New York Times and carried by the Seattle PI (they are cutting back after all), calling the $75 Billion dollar plan 'more ambitious than expected.' So far so good... Read the article here.
Mortgage rates-- it's a photo finish!
Rates finished basically even on the week. Here's how we ended the day:
4.875% Rate / 5.026% APRLoan amount: $417,000Down payment/equity: 20%Loan program: 30 Year FixedMinimum credit score: 720
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mortgage rate update: Mortgage Rate Update -- who can keep up with this stuff?!?!? - 02/11/09 04:12 PM
Not me, apparently... my apologies for the lack of postings in the past couple of weeks.
Quite the buzz in the news today and I was tempted to rush out with a blog entry on the new tax benefit and how it will work. Except one thing:
WE DON'T REALLY KNOW YET! Stay tuned for more on that soon.
Here's the rate today:
5% Rate / 5.152% APR
P&I payment: $2,238.55Loan amount: $417,000Equity: 20% / Credit Score: 740Loan Program: 30 Year Fixed
As always, thanks for reading! --James Wirth
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mortgage rate update: Mortgage Rate update -- This one's short (I proooomise) - 01/28/09 02:32 AM
No, really. This one's to the point.
4.75 that is. That's what the rate was on January 27th, 2009. Here's what it looks like:
4.75% Rate / 4.899% APR
P&I payment: $2,175.27Loan amount: $417,000Down payment/equity: 20%Loan Program: 30 Year Fixed
Rates as of 01/27/09, subject to change without notice, etc. etc.
Mortgage rates had climbed back into the 5s for a bit there, gave us all a fright that everyone had missed the boat. But we're back a bit now, hopefully we'll take advantage of these historic lows before they climb again!
Thanks for reading! --James Wirth
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mortgage rate update: Mortgage Rate Update -- Asleep at the Wheel! - 01/15/09 08:30 PM
Actually, I was referring to me or rather my lack of postings recently. I apologize for that!
Rates, too, are basically unchanged from my last rate update, where they were, well, basically unchanged: http://activerain.com/blogsview/870483/Mortgage-Rate-Update-Basically-Unchanged
The New York Fed continues to purchase Mortgage Backed Securities, gobbling up an additional $23B in their second week of the program. This in addition to report-after-report of negative economic new releases that historically is very rate-friendly (e.g. it panics the traders and they pull their money out of the stock market and stick it into bonds to protect it).
And yet, rates are basically unchanged. WHAT … (0 comments)
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James Wirth
Everett,
WA
More about me…
Address: Everett, WA, 98208
Cell Phone: (425) 298-7883
Email Me
James Wirth here, and T-H-A-N-K--Y-O-U for visiting my blog! Here I hope to inspire, educate, and coach those affiliated with the Real Estate industry on how they can better market themselves online & connect with past, present and future clients/customers/contacts
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