mortgage calculator: Mortgage Rates Continue To Rise: Are Sub 5 Rates Gone Forever? - 11/02/09 12:57 AM
So are sub 5.0 rates gone forever? The short answer is probably yes. While rates might briefly fall below 5 in the next month for the most part the era of sub 5.0 rates is over. Mortgage rates rose for the third straight week. The thirty year rate rose from 5.00 to 5.03. The 15 year rate rose from 4.43 to 4.46. The 5 and 1 year rates rose from 4.40 to 4.42 and 4.54 to 4.57. Its interesting to note that the 1 year arm has had a higher rate than the 5 year arm for the last few weeks. … (1 comments)
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mortgage calculator: Mortgage Rates Start to Rise - 10/16/09 04:11 AM
After falling for the last 6 weeks mortgage rates started to rise this week. The 30 year rate rose from 4.87 to 4.92. The 15 year mortgage rose from 4.33 to 4.37. Both arms rose as well with the 5 year arm rising from 4.35 to 4.38 and the 1 year arm rising from 4.53 to 4.60. Below are mortgage rates for the last several weeks along with mortgage rates from March 19, 2009.
Oct 15, 2009
30-yr 4.92 15-yr 4.37 5-yr ARM 4.38 1-yr ARM 4.60
Oct 08, 2009
30-yr 4.87 15-yr 4.33 5-yr … (1 comments)
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mortgage calculator: Are Mortgage Rates Primed To Rise - 08/14/09 03:38 AM
Mortgage rates rose again this week. This is the third time in the last 4 weeks that mortgage rates have risen. Why are mortgage rates rising? There are numerous factors at play but generally once the economy recovers it's expected that inflation, and mortgage rates, should rise. The last month of generally positive economic news has probably helped nudge mortgage rates up. Although rates are increasing they are increasing in small steps and not large strides. Since July 16th the 30 year rate has only moved from 5.14 to 5.29. While this is interesting it's certainly not a huge move upward.
… (0 comments)
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mortgage calculator: The 5 Year ARM Hits A Low For The Year - 07/25/09 04:38 AM
The 5 Year arm dropped from 4.83 to 4.74 this week reaching a low for the year. What is interesting is that we have moved back to a normal state when comparing the 4 major mortgage products to each other. Earlier this year the 5 year arm fell below the 30 year fixed rate which is highly unusual. This basically made the five year arm pointless for borrowers. But with the drastic fall in the 5 year rate in the last few weeks we are now starting to see a normal relationship between the 5 year arm and the 30 year … (1 comments)
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mortgage calculator: Mortgage Rates Hover Near All Time Lows - 05/27/09 10:25 PM
There was not much movement in most of the major mortgage products this week. The 30 year rate dropped from 4.86 to 4.82. This is only slightly above the 4.78 all time low that was reached a few weeks ago. The 15 year rate dropped from 4.52 to 4.50. There was some interesting movement with the 5 and 1 year arm. The 5 year arm dropped from 4.82 to 4.79. At the same time the 1 year arm rose from 4.71 to 4.82. This is the first time the 1 year arm has been above the 5 year arm. Regardless both … (2 comments)
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mortgage calculator: Mortgage Rates Start to Move Up - 05/09/09 12:18 AM
After moving down for the last 3 weeks mortgage rates finally started to move up. The 30 year rate jumped from 4.78 (equaling the all time low) to 4.84. This is the highest the 30 year rate has been since April 9th. The other 3 major mortgage rates rose this week as well. The 15 year rate moved up slightly from 4.48 to 4.51. The 5 year arm moved from 4.80 to 4.90 pushing it farther above the 30 year rate. It's been sometime since the 5 year arm was below the 30 year fixed rate. It looks like the 5 … (0 comments)
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mortgage calculator: Mortgage Rates Hit All Time Lows - 05/02/09 12:10 AM
The 30 year mortgage rate hit its all time low this week falling from 4.80 to 4.78. This matches the previous all time low that was reached just a few weeks ago on April 2, 2009. For the last month mortgage rates have been hovering a little below 5 percent. The 15 year fixed mortgage rate held steady for the second week at 4.48. While this is low for the 15 year rate the difference between the 30 year rate and the 15 year rate is lower than usual. Therefore, the 15 year rate should be seeing less activity than normal. … (1 comments)
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mortgage calculator: Mortgage Rates Fall: The 15 Year Mortgage Rate Hits All Time Low - 04/21/09 12:12 AM
Mortgage rates dropped this week from 4.87 to 4.82. They did not drop below the all time low of 4.78 that they hit two weeks ago. For the last month, for the most part, we have not seen a lot of movement and instead have just seen the 30 year mortgage rate just bouncing around near all time lows.
The 15 year mortgage did reach new all time lows this week dropping from 4.54 to 4.48. The previous low was 4.52 that was reached last week. The 5 Year ARM dropped from 4.93 to 4.88. This was also a … (1 comments)
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mortgage calculator: Mortgage Rates Inch Toward All Time Lows - 03/24/09 12:23 AM
30 year mortgage rates dropped below 5% for the second time this year. It was also the second lowest rates posted by Freddie Mac in the last 40 years (the lowest being 4 weeks ago). Rates hit 4.98 this week close to the all time low of 4.96 that was reached on January 15, 2009. The other major mortgage products also inched down this week with the exception of the 1 Year ARM. The one year ARM rose from 4.80 to 4.91. This is the closest the 1 Year ARM has been to the 30 year mortgage in the last few … (0 comments)
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mortgage calculator: Mortgage Rates Back Down to Historical Lows - 03/15/09 12:20 AM
30 Year Mortgage Rates dropped from 5.15 to 5.03. With the exception of the weeks of January 8th, 2009 and January 15th 2009 this is the lowest rates have been in over 40 years. The other 3 major mortgage products dropped as well with 15 year arms moving down from 4.72 to 4.64, 5 year arms going from 5.08 to 4.99 and 1 year arms moving from 4.86 to 4.80. Although the 5 year arm has moved below the 30 year fixed for the last few weeks there is still no real reason to get a 5 year arm at 4.99 … (1 comments)
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mortgage calculator: Mortgage Rates Hold Steady - 03/03/09 11:24 PM
Mortgage rates held even this week. For a recent history of rates we saw rates reach an all time low of 4.96 on January 15th. After that rates jumped up to 5.25 on February 5th. Since then rates have come down. 30 year rates are now at 5.07 so just a little above their previous lows. We have rates for the last 5 weeks listed below.
Feb 26, 2009
30-yr 5.07 15-yr 4.68 5-yr ARM 5.06 1-yr ARM 4.81
Feb 19, 2009
30-yr 5.04 15-yr 4.68 5-yr ARM 5.04 1-yr ARM 4.80
Feb 12, … (2 comments)
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mortgage calculator: Is It Better To Rent Or Buy In The Current Economy? - 12/31/08 03:49 AM
Historically speaking, the answer to the rent or buy question is that usually it's smarter to buy a house. These are not usual times. The true answer to that question, of course, depends on the individual situation. There are some factors to consider when making this important decision.
Some of the normal reasons to choose renting over buying a home include plans to relocate in the next couple of years or a low rent payment. But in the current economy, renting could make sense for a number of reasons. Renting gives financial flexibility, allowing people to save or invest. … (1 comments)
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mortgage calculator: Mortgage Rates Experience Historic Drop - 12/08/08 11:28 PM
Mortgage rates experienced a historic drop this month. 30 Year rates fell from 5.97 to 5.53. This is the lowest rates have been since January 2008. But I think this understates how low mortgage rates are this week so I did a little research. Since 1974 rates have been lower than today's rates only four times. Below are the dates and mortgage rates.
1) June 2003 5.23
2) March 2004 5.45
3) May 2003 5.48
4) January 2008 5.48
5) December 2008 5.53
Although we looked over a period of 34 years it was interesting that three of the … (2 comments)
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mortgage calculator: Mortgage Interest Rates Jump Up - 06/14/08 02:02 AM
After several weeks of staying relatively flat mortgage interest rates jumped up this week. 30 Year mortgage went from 6.09 to 6.32. 15 Year Mortgage moved from 5.65 to 5.93. 5 Year rates went from 5.51 to 5.70. The only rate that was somewhat stable was 1 Year Arms which went up from 5.06 to 5.09. Two weeks ago we predicted that rates would increase over the summer and they seem to be doing exactly that.
June 12,2008
30-yr 6.32 15-yr 5.93 5-yr ARM 5.70 1-yr ARM 5.09
June 5,2008
30-yr 6.09 15-yr 5.65 5-yr ARM 5.51 1-yr … (4 comments)
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mortgage calculator: What Is Going On With Mortgage Rates This Week - 06/07/08 02:33 AM
Rates on 15 and 30 Year Fixed loans were pretty much stable this week. Rates on 5 and 1 year ARMs both fell. With 1 Year ARMs falling from 5.22 to 5.06. This is the lowest 1 Year Arms have been since early March. Its a little wierd considering banks are losing a lot of money on ARMs from people going into foreclosure when their ARMs reset. So one would think that banks would be discouraging people from getting 5 and 1 year ARMs. But instead with a full point difference between 30 Year Fixed and One Year Arms they … (6 comments)
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mortgage calculator: Helping Your Clients to Understand the Importance of Interest Rates Drops - 03/13/08 12:32 AM
Real Estate buyers are usually highly focused on the purchase price of a property. This is a legitimate concern. The purchase price is one of the most important considerations in a real estate transaction. But at the same time home buyers too frequently treat interest rates as a secondary concern. Many buyers will stress over $300 or $400 in negotiations over purchase price. But when told that interest rates dropped half a point, home buyers will often respond with a shrug.
This is frequently because it is easy to understand the difference between paying 200k and 195k for a house. … (0 comments)
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