mortgage widget: Mortgage Rates : Volatility is on the Horizon - 03/29/10 03:25 AM
The 30 year rate rose from 4.96 to 4.99 this week. In the last 4 weeks 30 year mortgage rates have remained remarkably stable staying between 4.95 to 5.05. But it looks like that might change over the next few months. The economic instability in Greece and the rest of Europe could lead to instability in the mortgage markets, in addition the US government is likely to stop purchasing mortgage backed securities which could cause rates to rise. At the very least we should start seeing more volatility in mortgage rates for the rest of the year.
The 15 … (0 comments)
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mortgage widget: Mortgages Rates Shoot Up - 12/24/09 12:32 PM
Mortgage rates shot up this week with the 30 year rate moving from 4.81 to 4.94. Rates also moved up substantially last week. So now in the last two weeks rates have moved from 4.71 to 4.94. This is highest the 30 year rate has been since November 5th. Although the other mortgage products have moved up in the last two weeks they have not risen as dramatically as the 30 year rate. Below are rates from the weeks from Nov 19, 2009 to Dec 17, 2009
Dec 17, 2009
30-fixed 4.94 15-fixed 4.38 5-yr ARM 4.37 1-yr … (0 comments)
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mortgage widget: 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 widget: Mortgage Rates Fall Again : Lowest Point Since May - 09/07/09 03:02 AM
Mortgage rates fell again this week reaching a 3 month low. The 30 year mortgage rate is now lower than it was 6 months ago. It's interesting to note that rates are lower than they were ago months ago. Six months ago the rates were more newsworthy because at the time they were all time lows. Since rates dropped in April today's rates are only at 3 month lows. The all time low of 4.78 was reached in April 2009.
The question remains though why rates are dropping. The expectation has been that rates are going to rise eventually. Yet … (3 comments)
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mortgage widget: Mortgage Rates Start to Trend Upward Again - 08/03/09 09:17 PM
Although we are not seeing too much movement it looks like mortgage rates are starting to trend upward. It's interesting to note that the stock market had its strongest July in several years. Once the economy has a full recovery there are some predictions that inflation will spike and mortgage rates will hit double digits. We are a ways from that but its interesting none the less to see rates slowly moving up and the economy slowly moves into recovery mode. All four of the major mortgage products moved up this week. The 30 year mortgage went from 5.20 to 5.25; … (0 comments)
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mortgage widget: Details on the First Time Home Buyer Tax Credit - 07/18/09 04:21 AM
There is a provision in the Housing and Economic Recovery Act of 2008 that allows first time home buyers the ability to receive a credit on their taxes of up to $7,500 for purchasing a home. There is also a provision in the American Recovery and Reinvestment Act of 2009 that expands this tax credit for qualified first time home owners. The provision is called the first-time homebuyer credit.
The 2008 first-time homebuyer credit was created to infuse the slumping housing market, and is treated like an interest-free loan. Qualified participants were required to repay the loan interest-free over a … (6 comments)
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mortgage widget: After Falling Mortgage Rates Hold Steady - 06/27/09 02:00 AM
After falling from 5.59 to 5.38 the previous week it looks like mortgage rates for the most part held steady this week. Of the four major mortgage products two fell and two rose. But for all four the movement was minimal. Thirty year mortgage rates rose from 5.38 to 5.42 and the 5 year arm rose from 4.97 to 4.99. The 15 year rate dropped slightly from 4.89 to 4.87 and the 1 year arm fell from 4.95 to 4.93. Below are rates for the last few weeks.
Jun 25, 2009
30-yr 5.42 15-yr 4.87 5-yr ARM 4.99 1-yr … (2 comments)
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mortgage widget: Mortgage Rates Skyrocket - 06/12/09 03:48 AM
Last week mortgage rates moved up rapidly, moving up from 4.91 to 5.29. This week mortgage rates again jumped up .3 points going from 5.29 to 5.59. On May 21st rates were sitting at 4.82 which was a 40 year low. Now just a few weeks later rates are at 5.59. This is the highest we have seen rates since November 26, 2008. Unlike last week this week all the other major mortgage products went up as well. The 15 year rate jumped from 4.79 to 5.06. The 5 year arm moved from 4.85 to 5.17 and the 1 year arm … (3 comments)
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mortgage widget: Mortgage Rates Start to Rise - 05/21/09 01:02 AM
Mortgage rates rose slightly this week. The lowest rates we have seen in the last 50 years came just 2 weeks ago when 30 year mortgage rates hit 4.78. Since then rates have risen slightly to 4.86. Although off of record lows mortgage rates are still very low by historical standards. The 15 year rate held mostly steady sitting at 4.52 but .04 points above its all time lows.
While the 15 and 30 year dropped both the 5 and 1 year arm fell this week. The 5 year arm fell from 4.90 to 4.82. The 1 year arm dropped … (0 comments)
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mortgage widget: 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 widget: Conflicting Economic Numbers - 04/05/09 01:32 AM
The stock market rally has many economists hopeful that the end of the recession is near, but the recent unemployment numbers may have dashed those hopes. According to Associated Press reports, the nation's unemployment rate jumped to 8.5 percent in March, the highest in 26 years. "It's an ugly report and April is going to be equally as bad," predicted Mark Zandi, chief economist at Moody's Economy.com.
The number of unemployed people climbed to 13.2 million in March and that doesn't include the number of people who are now working part-time due to having their hours cut. Economists predict that … (3 comments)
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