mortgage rates: Mortgage Rate Update - 06/27/13 03:36 AM
Extreme volatility in the bond market has been evident since the beginning of May.  Mortgage backed securities have traded lower by over 300 bps since May 1, 2013.  Rates have increased an average of .625% for conventional programs during that time.  Thirty year rates that were achievable below 4% for well qualified borrowers are now in the mid 5s.  This equates to an extra $89 per month on a $250,000 home loan, easily enough to disqualify marginal borrowers with high debt to income ratios.

Gross domestic product reports for the first quarter show that US economic growth is far below expectations; … (0 comments)

mortgage rates: Ridiculously Low Rates Posted Today... - 08/10/11 07:47 AM
  Home Loan Specialists is currently posting the lowest par rates since the inception of our company in 2006.*

Click here for Texas Mortgage Rates

 
 
 
*Not all borrowers will qualify for published rates or programs.
 
 
… (2 comments)

mortgage rates: What the Plummeting Stock Market Means to Mortgage Rates - 08/09/11 04:31 AM
 
Historically, mortgage rates have closely followed the stock market movements.  The NASDAQ charts are very well correlated with mortgage bond daily pricing which, in turn, dictates your mortgage rates.  In theory, when stock prices rise inflation is at hand and mortgage rates increase.  Conversely, stock market losses signal lower mortgage rates ahead.
 
The recent nosedive of US stock prices has continued to confirm this relationship as mortgage rates dropped an average of .25% last week.  Our benchmark 30-year fixed conforming par rate started the week at 4.25% and finished at 4.00%. This rate decline was seen in all … (0 comments)

mortgage rates: Mortgage Rate Watch - The Lesser of Two Evils - 07/21/11 05:19 AM

The lesser of two evils is giving homeowners another clear shot at refinancing to a lower rate, a shorter term, or both. 
The two evils are: the impending US budget crisis which, if the debt ceiling isn’t increased by August 2nd, will threaten to cause the government to default on credit obligations; and the rapid deterioration of several fragile European economies including Greece, Spain, Italy, and Ireland.   
Fixed-income investors are choosing to favor dollar-based securities over those backed by the Euro.  As demand for (US Treasuries et al) has risen, bond prices have increased, thereby pushing rates back down below … (0 comments)

mortgage rates: RATE ALERT - Home Loan Specialists, Inc. - June 30th, 2011 - 06/30/11 09:07 AM
 
Mortgage rates continued their unprecedented volatility today.  In the morning, rates continued to increase as mortgage bond prices fell 48 bps.  At midday prices began to improve and rates were revised slightly better in the afternoon.  Our advice is to stay on the sidelines (read float) until volatility subsides hopefully after the July 4th holiday.
… (0 comments)

mortgage rates: RATE ALERT - Home Loan Specialists, Inc. - June 29th, 2011 - 06/29/11 08:41 AM
 
The tenuous political and economic balance in Greece and other heavily leveraged European countries has suddenly rocked the mortgage bond markets this week. 
The US Treasury auctions held Monday and Tuesday were met with abject disdain. Buyers were virtually non-existent.   Bonds traded 62 bps lower on Tuesday forcing mortgage rates up by .25% over last Monday’s open.  Guru’s portend further increases as a confirmation that inflationary pressures are real. 
Prospects should be prepared to lock into new rates after the current paranoia is over.
… (0 comments)

mortgage rates: Home Loan Specialists, Inc. Texas Mortgage Rate Watch - June 24th, 2011 - 06/24/11 08:57 AM

Average rates for the benchmark 30-year fixed mortgage - as reported by Freddie Mac - stood at 4.50% this week, unchanged from the previous week. The average for the 15-year fixed amortization equaled 3.69%, up .02% on the week.
This week the European Union and the International Monetary Fund announced an agreement to keep the Greek economy from collapsing with a 5-year austerity plan. This has had a calming effect on the mortgage-backed security markets, which are now poised to react to the impending US debt crisis.
Home Loan Specialists is posting par rates of 4.25% on 30-year fixed conventional and … (0 comments)

mortgage rates: Home Loan Specialists, Inc. Mortgage Rate Watch - June 17th, 2011 - 06/17/11 07:55 AM
Average rates for the benchmark 30-year fixed mortgage, as reported by Freddie Mac, stood at 4.50% this week. This represents a change of +.01% over last week’s average which reached a new low for 2011.
The average for the 15-year fixed amortization equaled 3.67%, down .01% on the week. The 15-year average represents yet another new low for 2011.  
Mortgage-backed security prices remain strong in contrast to the extreme volatility noted in the equity markets this week. This is largely a result of European economic instability particularly with respect to Greece.
Today, Home Loan Specialists is posting par … (0 comments)

mortgage rates: Texas Mortgage Rate Watch - June 10th, 2011 - 06/10/11 09:36 AM
Mortgage rates continued their gradual decline this week with the benchmark 30-year fixed rate mortgage falling to 4.49% and the 15-year fixed rate mortgage falling to 3.68% according to Freddie Mac’s Primary Mortgage Market Index Survey of 125 credit unions, commercial banks, and mortgage companies. Rates continued to fall as a result of a weak job report, continued uncertainty regarding the strength of the U.S. economic recovery, and concerns over a possible double-dip recession.
Weakness in the U.S. stock market drove rates lower as well as investors migrated to the safety of bonds. Though government financial support of the mortgage markets … (0 comments)

mortgage rates: Houston Mortgage - 01/16/11 10:24 AM
Houston Mortgage providers should be selected based upon objective criterion that includes not only current mortgage rates, but also the typical closing costs charged, the company's service ratings, and qualifications.
Rates can vary widely among mortgage lenders, so a borrower should take the time to shop around a bit. A recent survey of Houston mortgage rates conducted by the Houston Chronicle found that rates on 30-year fixed rate mortgage varied from 4.375% to 6.375%. Your actual rate will depend upon your down payment, your credit score, the type of property you own or purchase and the type of mortgage, so it … (0 comments)