americas 1 mortgage broker: America's #1 Mortgage Rates Report: July 11, 2008
- 07/11/08 03:28 AM
Mortgage rates for July 11, 2008. Loan amounts up to $417,000: 3/1 ARM 5.125%5/1 ARM 5.375% 7/1 ARM 5.750% 10/1 ARM 5.875% 30 Yr Fixed 6.000% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by calling at the number below.. MORTGAGE RATE TREND: Next 7 days: Neutral … (2 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: July 10, 2008
- 07/10/08 10:13 AM
Mortgage rates for July 10, 2008. Loan amounts up to $417,000: (Be sure to watch the video commentary, directly below) 3/1 ARM 5.125% 5/1 ARM 5.375% 7/1 ARM 5.625% 10/1 ARM 6.000% 30 Yr Fixed 6.125% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by calling at the number … (0 comments)
All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and rate lock advice are available by calling at the number below.
MORTGAGE RATE TREND: Next 7 days: … (2 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: July 3, 2008
- 07/03/08 09:06 AM
Mortgage rates for July 3, 2008. Loan amounts up to $417,000: 3/1 ARM 5.250%5/1 ARM 5.500%7/1 ARM 5.625%10/1 ARM 6.000% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and fixed rate mortgages are available by calling at the number below.. AMERICA's MORTGAGE RATE TREND: Next 7 days: Slightly Lower Next 30 days: Neutral Next … (9 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: July 2, 2008
- 07/02/08 05:06 AM
Mortgage rates for July 2, 2008. Loan amounts up to $417,000: 3/1 ARM 5.250%5/1 ARM 5.500%7/1 ARM 5.625%10/1 ARM 6.000% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and fixed rate mortgages are available by calling at the number below.. AMERICA's MORTGAGE RATE TREND: Next 7 days: Slightly Lower Next 30 days: Neutral Next 3 … (0 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: July 1, 2008
- 07/01/08 02:43 AM
Mortgage rates for July 1, 2008. Loan amounts up to $417,000: 3/1 ARM 5.250%5/1 ARM 5.500%7/1 ARM 5.750%10/1 ARM 5.875% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and fixed rate mortgages are available by calling at the number below.. AMERICA'S MORTGAGE RATE TREND: Next 7 days: Slightly Lower Next 30 days: Slightly Higher Next … (0 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: June 30, 2008
- 06/30/08 08:57 AM
Mortgage rates in San Diego for June 30, 2008. Loan amounts up to $417,000: 3/1 ARM 5.250%5/1 ARM 5.500%7/1 ARM 5.750%10/1 ARM 5.875% All rates offered to the borrower with 1 point cost. Rate quotes assume a purchase transaction with a 20% down payment, 720 credit score, and full income qualification. Rates are subject to fluctuation. Custom rate quotes and fixed rate mortgages are available by calling the number below. AMERICA's MORTGAGE RATE TREND: Next 7 days: Slightly Lower Next 30 days: Slightly Higher … (1 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: June 25, 2008
- 06/25/08 04:24 AM
No recommendation until tomorrow. All eyes are on the Federal Reserve Open Market Committee today. At 2:15PM (EDT), 11:15 (PDT), they will release their interest rate decision and statement. The fixed income securities market believe there is a 43% chance that the Fed will RAISE rates, to stifle inflation, in August and that there is a 61% chance that the hike will come in November. The eyes will be on the Fed's commentary, though: "We expect the Fed to keep the funds rate at 2% today but to shift to a more hawkish statement by placing more emphasis on inflation over … (5 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: June 19, 2008
- 06/19/08 09:54 AM
We're still advising all borrowers to lock all mortgage rates at application. The risk of the Fed raising rates far exceeds the opportunity for lower term rates. Watch this one minute video to understand what exactly has been happening in the mortgage markets, since May 2, 2008 and what I think WILL happen in the near term future. Brian Brady Mortgage Planner 858-777-9751 … (8 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: June 12, 2008
- 06/12/08 01:44 AM
Mortgage rates are headed higher. Lock all rates at application, regardless of closing date. The trend is clear; the Fed believes it has done all it can to stave off the banking crises and is now focusing its efforts on inflation. This morning, retail sales were up and the dollar is strengthening. If stagflation is the fear, the current strategy of targeting core inflation may be abandoned for the more radical Paul Volcker-style approach to tame inflation. While I believe the higher mortgage rate cycle will be shorter than the 80-s style interest rate hikes, it's clear to me that Bernanke … (6 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: June 9, 2008
- 06/09/08 10:40 AM
America's mortgage rates are behaving exactly as I expected they would when I reissued my lock recommendation on May 29, 2008. What then for June, 2008 mortgage rates? Expect more volatility. The Fed's in a weird spot. The economy is tanking under the pressure of high gas prices and the real estate recession. The tax rebates are mailed and that money's been spent. Gasoline is at $4.00/gallon. Food costs are spiraling from the dumb ethanol energy policy. Ben Bernanke doesn't know if he should be fighting inflation on Monday or preventing a depression on Tuesday. His mixed signals are being perceived … (5 comments)
americas 1 mortgage broker: America #1 Mortgage Rates Report: May 29, 2008
- 05/29/08 02:55 AM
"What goes up, must come down. Spinning Wheel, got to go 'round"- Blood, Sweat and Tears This is panic selling that we're seeing in the fixed-income securities market. I knew it would happen but I was early. The 30-year fixed rate mortgage was at 5.625%, nine days ago. Yesterday, it went to 6.0%. Today a 30 -year fixed rate mortgage is at 6.25%. Expect rates to be above 6.0% for the next two weeks; we should see them creep down by the end of June to the sub-6 level. What should you do if you can't wait? Lock in a 5/1 … (3 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: May 28, 2008
- 05/28/08 12:02 PM
San Diego mortgage rates jumped in the past 7 days because of rising oil prices. This is the staglationary fear I expected. Mortgage rates have increased to 6.0% (30 year fixed) today. I expect rates to rise another .25% in the next 14 days for these reasons: 1- Possible uncertainty at the Federal Reserve Bank.2- Oil above $125/barrel (which translates to $4/gal. gasoline at the pump)3- Inflation affecting the European economy. Bond traders hate uncertainty so we expect a lot of volatility through Labor Day. As San Diego mortgage rates approach the 6.25% level, we should see them plateau unless inflation … (8 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: May 21, 2008
- 05/21/08 02:18 PM
I'm locking mortgage rates at application for all loan types, regardless of closing date. I've been recommending locks for three weeks. Rates improved about .375% so I was incorrect. Why then, should you heed my advice now? Let's look at this chart:
This is a chart for the last 30 days for mortgage-backed securities. When MBS prices go up, mortgage rates come down. In this case, I noticed a meteoric rise in MBS prices in the last week in April … (5 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: May 14, 2008
- 05/13/08 07:20 PM
Lock all mortgage rates immediately. This is a stagflation fear we're seeing: The central bank can't be ``complacent about inflation,'' Janet Yellen, president of the Fed Bank of San Francisco, said in a speech yesterday. Recent measures of consumers' outlook for prices ``highlight the risk that our attempts to deal with problems in the real economy could lead to higher inflation expectations and an erosion of our credibility,'' she said. Yellen also said she anticipates inflation will slow as the labor market weakens and ``commodity prices level off,'' echoing comments by other policy makers. Investors project the Fed … (4 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: May 12, 2008
- 05/12/08 02:24 AM
American mortgage rates dropped, then rose to their original level, last week. I've been advising mortgage borrowers to lock all rates at application, regardless of closing date. Did I miss an opportunity to improve clients' rates? I don't think so. My approach is more one of limiting losses than improving gains and last week, I thought there was a threat of higher mortgage rates; I still do. Inflation data will be released Wednesday and Unemployment data are due out Thursday. These figures could be the tempest in the teapot and really affect mortgage rates. We just think there is too much … (0 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: April 14, 2008
- 04/14/08 05:00 AM
I'm still floating mortgage rates, unless my clients are closing within 14 days. I"m cautiously floating because of the volatility in the market. Fundamentally, mortgage rates shouldn't have a whole lot more room to come down; the Fed cuts are probably coming to an end. Something much more drastic than the Fed open market activities will be needed to pull us out of the recession. Yep. I said the R word and have been since last fall. I'm not scared of the recession; I welcome it. Here's the trick for mortgage rates. The weak dollar has world investors believing that the … (0 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: March 10, 2008
- 03/10/08 04:28 PM
Warren Buffett describes his investment philosophy as being fearful when everyone else is greedy and greedy when everyone is fearful. Today, fear abounds in the mortgage bonds market and that is driving mortgage rates higher. Rampant fear is why I'm suggesting that borrowers float their mortgage rate. I had been advising borrowers to lock loans, until all hell broke loose, on March 6,2007. Investors are worried that the mortgage bonds they hold will be worthless. This market is a lot like the junk bond market of the late 80s. Those that panicked lost money; those that kept a cool head, profited. Today a … (0 comments)
americas 1 mortgage broker: America's #1 Mortgage Rates Report: February 28, 2008
- 02/28/08 05:22 PM
I had a complete meltdown on my Twitter feed, yesterday. Bernanke told the House that he was concerned about inflation but more concerned about a recession. I initially reversed my float recommendation and subsequently changed it back to lock because I thought Wall Street would hate Ben's remarks; I was wrong. I violated the first principle; don't fight the Fed. The Federal Reserve is worried about a recession. I think we can expect the Fed to cut rates next month.. The anticipation of that cut gives us a chance to see mortgage rates drift lower. You should CAUTIOUSLY FLOAT your mortgage … (4 comments)
Mortgage rates for July 11, 2008. Loan amounts up to $417,000:
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