mortgage rates: What's Ahead For Mortgage Rates This Week: March 18th, 2013 - 03/17/13 11:50 PM
Last week's positive employment reports were good news for the economy, which typically causes mortgage rates to rise, but mortgage rates ended the week lower. As of Thursday, Freddie Mac reports that the average mortgage rate for a 30-year fixed rate mortgage was 3.63 percent with borrowers paying their closing costs and 0.8 percent in discount points. The average mortgage rate for a 15 year loan was 2.79 percent with borrowers paying their own closing costs and 0.8 percent in discount points. Strong Retail Sales Show Consumer Confidence Improving In other economic news, retail sales for February surpassed Wall Street expectations … (0 comments)

mortgage rates: Surprisingly Strong Jobs Report May Affect Mortgage Rates - 03/12/13 11:49 PM
Last week's jobs report -- a combination of the Department of Labor's Non-farm Payrolls Report and Unemployment Rate -- provided investors and job seekers with unexpected good news. Job growth for February handily exceeded most economists expectations of 160,000 by adding 236,000 new jobs. According to the Bureau of Labor Statistics, employment increased in business and professional services, construction and healthcare:
Business and professional services added 73,000 jobs Construction added 48,000 jobs. Of these, 17,000 jobs were for residential construction. Healthcare added 32,000 jobs Since September, construction employment has risen by 151,000. This increase in construction jobs may point to a … (0 comments)

mortgage rates: What'€™s Ahead For Mortgage Rates This Week: March 11th, 2013 - 03/10/13 11:29 PM
Mortgage rates and the major stock market indices rose last week in response to a strong jobs report and lower national unemployment rate. The Department of Labor's Non-farm Payrolls report for February surpassed expectations with 236,000 new jobs reported against expectations of 170,000 new jobs expected by Wall Street. This stronger than expected showing in jobs numbers points to a stronger economy and may lead to less pressure to hold mortgage interest rates lower. The Dow Jones Index also reached record levels last week. This strong stock market performance is to be expected with better than expected employment reports. February's numbers … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week: March 4th, 2013 - 03/04/13 12:30 AM
U.S. Budget Stalemate, Italian Elections Stir Concerns Mortgage rates were lower last week as investors sought safety in bonds in the wake of US legislators' failure to agree on budget cutbacks, and after Italy’s elections failed to reveal a leader committed to continuing economic reform. When bond prices including Mortgage Backed Securities rise, mortgage rates typically fall. While the March 1st deadline for passing budget cutbacks for the U.S. government passed without a resolution, emergency legislation passed last year will keep the government running until March 27. If a budget is not passed by then, the federal government could face shutdown. … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week: February 25th, 2013 - 02/25/13 02:21 AM
A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from 3.53 percent to 3.56 percent with borrowers paying 0.8 in discount points and all of their closing costs. The average rate for a 15-year fixed rate mortgage was unchanged from last week at 2.77 percent with borrowers paying 0.8 in discount points and all of their closing costs. In other … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week: February 11th, 2013 - 02/10/13 10:38 PM
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in FL and across the country. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage was 3.53 percent with borrowers paying all of their closing costs and 0.8 percent in discount points along with a full complement of closing costs. The U.S Department of Commerce reported that Factory Orders for December improved over November; they rose from 0.0 percent … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : January 28, 2013 - 01/28/13 01:45 AM
Mortgage rates rose last week as investors gained confidence in the global economy. China and Europe posted better-than-expected manufacturing rates, U.S. Jobless Claims fell for the second straight week, and the worst of the European debt crisis appears to have passed. Last week's economic news provided further evidence of a strengthening U.S. economy. The National Association of REALTORS® released its Existing Home Sales report, which indicates that existing home sales improved by 13 percent on a year-over-year basis and are now at their highest point since 2007. The group expects sales of existing homes to increase by 9 percent in 2013. … (0 comments)

mortgage rates: Find A Mortgage Rate Strategy Ahead Of Friday's Job Report - 11/01/12 01:03 AM
Friday morning, the government's Bureau of Labor Statistics will release its Non-Farm Payrolls report, more commonly called the "jobs report". Depending on how the jobs data reads, FHA and conforming mortgage rates may rise, or fall. This is because today’s mortgage market is closely tied to the U.S. economy, and the U.S. economy is closely tied to job growth. Economists expect that employers have added 125,000 net new jobs to their payrolls in October 2012, up from September's tally of 114,000 net new jobs. Jobs have been added to the economy over 24 consecutive months leading into Friday's release, and approximately … (1 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : October 29, 2012 - 10/29/12 09:33 AM
Mortgage markets ended the week slightly better last week. Wall Street took its cues from U.S. economic data, from developments in Europe, and from the Federal Reserve, moving mortgage rates lower in Florida and nationwide. Pricing for both conforming and FHA mortgage rates improved between Monday and Friday, with the majority of gains occurring late in the week. The timing of the gains explains why Freddie Mac's weekly mortgage rate report showed the average 30-year fixed rate mortgage rate rising this week when, in fact, it did not. Because Freddie Mac conducts its mortgage rate survey at the start of the … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : October 22, 2012 - 10/22/12 12:28 AM
 
Mortgage markets worsened last week as hope for a European economic rebound and stronger-than-expected U.S. economic data moved investors out of mortgage-backed bonds. Mortgage rates of all types -- conventional, FHA and VA -- lost ground last week, harming home affordability in Parkland and Coral Springs, and reducing purchasing power nationwide. Rising rates also thwarted would-be refinancing households hoping to time a market bottom. The increase runs counter to Freddie Mac's weekly Primary Mortgage Market Survey which showed the average 30-year fixed rate mortgage rate dropping 2 basis points to 3.37% nationwide. This contradiction occurred because Freddie Mac's weekly mortgage … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : October 15, 2012 - 10/14/12 11:42 PM
Mortgage markets improved slightly last week. With a dearth of new U.S. economic data due for release, investors turned their collective attention to the Europe, China, and the Middle East. U.S. mortgage rates fell slightly in the holiday-shortened week. The combination of civil protests, economic slowdowns, and growing political tensions caused investors to dump risky assets in favor of the relative safety provided by the U.S. mortgage bond market. According to Freddie Mac, the average conforming 30-year fixed rate mortgage is now 3.39% nationwide for borrowers willing to pay 0.7 discount points plus a full set of closing costs. 0.7 discount … (1 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : October 9, 2012 - 10/09/12 02:18 AM
Mortgage markets worsened last week for the first time in a month as the U.S. economy showed signs of improvement, and the Eurozone stepped closer to launching its $500 billion euro rescue fund. Conforming mortgage rates in Florida rose last week on the whole -- even though Freddie Mac's Primary Mortgage Market Survey proclaimed that they fell. This occurred because Freddie Mac's weekly mortgage rate survey is conducted between Monday and Tuesday each week and, last week, mortgage rates were lower when the week began. Through Wednesday, Thursday and Friday, however, they rose. According to the Freddie Mac survey, the average … (1 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : October 1, 2012 - 10/01/12 01:43 AM
Mortgage rates dropped to another all-time low last week as concerns for global economic growth helped U.S. home buyers and refinancing households nationwide. U.S. mortgage rates responded to non-U.S. events, and for rate shoppers and home buyers in Parkland or Coral Springs , Florida , home affordability improved. Early in the week, with Greece and Spain debating new austerity measures, and with citizen protests rampant, a flight-to-quality helped to boost demand for U.S. mortgage bonds. So did rumors of a weakening Chinese economy. "Flight-to-quality" is a trading term for when investors shun investment risk in favor of safer, more high-quality portfolio … (1 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : September 24, 2012 - 09/24/12 12:28 AM
Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs. Wall Street looked past it, however, to send mortgage rates to their lowest levels in history. One week into the Federal Reserve's newest bond-buying program, the stimulus appears to be working. According to Freddie Mac, the average 30-year fixed rate mortgage rate slipped to 3.49% last week for borrowers willing to pay an accompanying 0.6 discount points at the time of closing. Discount points are a one-time closing costs … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : September 10, 2012 - 09/10/12 02:41 AM
Mortgage markets worsened slightly in last week's holiday-shortened week. As expected, Wall Street took its cues from Europe and from the U.S. jobs market, and mortgage rates moved across a wide range. Home buyers in Parkland and would-be refinancing households were greeted with wildly varying mortgage rates, depending on which day they loan-shopped. According to Freddie Mac's weekly mortgage rate survey, 30-year fixed rate mortgage rates averaged 3.55% nationwide last week, with an accompanying 0.7 discount points. That is, until Thursday's meeting of the European Central Bank. The ECB is similar to the Federal Reserve in that, among its primary functions, … (0 comments)

mortgage rates: What's Ahead For Mortgage Rates This Week : September 4, 2012 - 09/03/12 11:36 PM
Mortgage markets improved last week for the second consecutive week. With no news coming from Europe, Wall Street was focused on the U.S. economic data and Federal Reserve Chairman Ben Bernanke's planned public speech from the Fed's annual retreat in Jackson Hole, Wyoming. Rate shoppers and home buyers in Parkland Florida caught a break. The housing market was shown to be improving last week, as was the average household income nationwide -- two events which would have typically moved FL mortgage rates higher. But, because the Fed Chairman used his speech to signal that new economic stimulus may be imminent, mortgage … (0 comments)

mortgage rates: Mortgage Rates Dropping After Release Of Fed Minutes - 08/24/12 08:34 AM
Eariler this week, the Federal Reserve released the minutes from its 2-day meeting which ended August 1, 2012. Since the release, mortgage rates have dropped. The Fed Minutes are released on a schedule, three weeks after the FOMC adjourns from one of its 8 scheduled meetings of the year. The Fed Minutes are meeting minutes; like you'd see after a corporation shareholder meeting, or after a condo board meeting. Specifically, the Fed Minutes details the conversations among Federal Reserve members which shape our nation's economic policy. The most recent Fed Minutes show a central bank closer to adding new market stimulus. … (0 comments)

mortgage rates: Mortgage Rates Rise For Third Straight Week - 08/17/12 12:04 AM
Mortgage rates in Parkland & Coral Springs keep on rising. According to Freddie Mac's weekly Primary Mortgage Market Survey, for the third straight week, the 30-year fixed rate mortgage rate rose, this time tacking on 3 basis points on a week-over-week basis to 3.62%, on average, nationwide. The 3.62% mortgage rate is available to mortgage applicants willing to pay 0.6 discount points plus a full set of closing costs. Freddie Mac's published mortgage rates are compiled from a 125-bank survey. Looking back, it appears that national 30-year fixed rate mortgage rates bottomed at 3.49% in late-July. In the weeks leading up … (1 comments)

mortgage rates: Freddie Mac 30-Year Fixed Rate Mortgage Rates Rises To 3.55% - 08/03/12 03:21 AM
Mortgage rates couldn't fall forever, it seems. This week, for the first time since mid-June, the 30-year fixed rate mortgage rate climbed on a week-over-week basis, moving 6 basis points to 3.55%, on average, nationwide. According to Freddie Mac, 3.55 percent is the highest average rate at which the benchmark product has been offered in close to 4 weeks. The Freddie Mac published mortgage rate is available for prime borrowers willing to pay a full set of closing costs plus an accompanying 0.7 discount points. Discount points are a one-time, upfront mortgage loan fee to be paid at closing where 1 … (0 comments)

mortgage rates: Mortgage Rates Down 1 Percent In One Year - 07/23/12 11:53 PM
Another week, another new low for mortgage rates. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage rate fell 3 basis points to 3.53% last week nationwide. The 3.53% mortgage rate is available to mortgage applicants who are willing to pay 0.7 discount points, on average, plus a full set of closing costs. One year ago, the 30-year fixed rate mortgage rate was 4.52%. Today, it's nearly one percent lower. For every $100,000 borrowed at today's rates as compared to July 2011, a mortgage applicant will save $57 per $100,000 borrowed, or $684 per year. Over … (0 comments)

 
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