mortgage rates: Mortgage rates for week ending Oct 26th, 2012
- 11/01/12 01:11 AM
Mortgage Rates Continue To Hover Near Record Lows St Paul, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving slightly lower while continuing to remain near their all-time lows this week amid signs of a growing economy and low inflation.
News Facts
30-year fixed-rate mortgage rates (FRM) averaged 3.39 percent with an average 0.7 point for the week ending November 1, 2012, down from last week when it averaged 3.41 percent. Last year at this time, the 30-year FRM averaged 4.00 percent. 15-year fixed rates mortgage rates this week averaged 2.70 … (0 comments)
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mortgage rates: MN Mortgage Rates Remain Basically Unchanged
- 10/25/12 12:46 AM
Mortgage Rates Relatively Unchanged Minneapolis, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving slightly higher while continuing to remain near their all-time lows helping to support the housing market.
News Facts
30-year fixed-rate mortgages (FRM) averaged 3.41 percent with an average 0.7 point for the week ending October 25, 2012, up from last week when it averaged 3.37 percent. Last year at this time, the 30-year FRM averaged 4.10 percent. 15-year fixed rate mortgages this week averaged 2.72 percent with an average 0.6 point, up from last week when it … (1 comments)
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mortgage rates: Why you should lock your refinance today
- 10/18/12 10:54 PM
St Paul, MN: We get it. You want the lowest mortgage interest rates. What you may not realize is that waiting for that low rate could make you your own worst enemy.
When shopping mortgage rates, understand that the quote you got yesterday or last week is meaningless. Interest rates can change throughout the day and that may cost you dearly while you think about it. Face it, rates change daily - sometimes even multiple times in one day.
Did you know you can pick any interest rate you want? Do you know the difference between the rate and pricing for the rate? … (2 comments)
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mortgage rates: MN Mortgage Refinance Rates Remain Low
- 10/18/12 12:54 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates edging slightly lower with the 30-year fixed averaging 3.37 percent, just above its all-time record low of 3.36 percent, and the average 15-year fixed dipping to a new all-time record low at 2.66 percent.
News Facts
30-year fixed-rate mortgages (FRM) averaged 3.37 percent with an average 0.7 point for the week ending October 18, 2012, down from last week when it averaged 3.39 percent. Last year at this time, the 30-year FRM averaged 4.11 percent. 15-year fixed rate mortgages this week averaged 2.66 percent … (0 comments)
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mortgage rates: Little change in Mortgage Rates this week following employment report
- 10/11/12 01:18 AM
Mortgage Rates Hit All-time Record Lows For Second Consecutive Week Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates falling to new all-time record lows for the second consecutive week on mortgage securities purchases by the Federal Reserve and indicators of a weakening economy.
The Federal Reserve’s purchase of long-term fixed mortgage securities allowed the 15-year fixed-rate mortgage at 2.69 percent to fall below the 5-year ARM’s rate at 2.72 percent. The last time the average 15-year fixed was lower than the 5-year ARM was the week ending October 15, 2009.
News … (0 comments)
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mortgage rates: New Record Low for Mortgage Interest Rates
- 09/27/12 12:18 AM
All-Time Low: 30-Year Fixed-Rate Mortgage Averages 3.40 Percent Minneapolis, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates breaking their previous average record lows helping to keep homebuyer affordability high and refinancing strong to support an already improving housing market. All mortgage products, except the 5-year ARM, averaged new all-time record lows.
News Facts
30-year fixed-rate mortgages averaged 3.40 percent with an average 0.6 point for the week ending September 27, 2012, down from last week when it averaged 3.49 percent. Last year at this time, the 30-year FRM averaged 4.01 percent. … (3 comments)
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mortgage rates: Mortgage Rates Hold Steady as Markets wait on Further Stimulus News
- 09/13/12 12:28 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), FOR THE WEEK ENDING AUGUST 30, 2012 showing fixed mortgage rates holding steady from the previous week and remaining near their all-time lows. The average 30-year fixed-rate mortgage has been below 4.00 percent all but once this year and the average 15-year fixed, a popular choice among refinance borrowers, has been below 3.00 percent since the last week in May.
News Facts
30-year fixed-rate mortgages (FRM) averaged 3.55 percent with an average 0.6 point for the week ending September 13, 2012, the same as last week. Last year … (0 comments)
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mortgage rates: Avoid Mortgage Loan Tricks, Scams, and Mistakes
- 09/09/12 10:52 PM
St Paul, Minnesota: Mortgage interest rates are still great. That's great news for veteran loan hunters. But for inexperienced shoppers who don't watch their backs, the mortgage business can still be a scary place to travel.
The internet historically has make it easier for sly banks, mortgage lenders and brokers to mislead and take advantage of naïve consumers using any number of tricks, from quoting bogus rates over the telephone to slipping gratuitous costs into their loans. To avoid these problems -- as well as other trip-ups posed by the confusing mortgage process itself -- consumers have to brush up on their shopping … (4 comments)
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mortgage rates: USDA OUT of Refinance Money for 2012 - Purchase Money Still OK!
- 08/22/12 02:24 AM
USDA Refinance funds for fiscal year (FY) 2012 are now exhausted!
St Paul, MN: Have a USDA Rural Development loan? Thinking of getting a USDA Refinance loan? Sorry - USDA announced today that they are out of money for refinances for 2012.
For the vast majority of homeowners, this really isn't a big issue, as many of them can lower their interest rate and refinance into many other loan products.
Looking to buy a home? USDA Rural Development Purchase Loans on the other hand have plenty of money - so there is no need to worry if you are buying a home.
As a side … (1 comments)
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mortgage rates: Mortgage Closing Costs UP, Not Down
- 08/12/12 10:34 PM
Closing costs have NOT gone down!
Minneapolis, MN: Recent news releases from the government have been claiming that mortgage closing costs have gone down 7% due to new mandated government procedures that make it necessary for lenders to be more accurate when making estimates for borrower’s closing costs.
The spin masters are wrong on two fronts.
First, most lenders were already accurate in their initial closing cost disclosures, and the items that caused them to re-adjust their estimate later on are still there. The only significant difference is the incredible burden of new paperwork, and disclosures that make absolutely no difference … (0 comments)
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mortgage rates: Are Mortgage Rates Going Up?
- 04/01/12 11:06 PM
ARE MORTGAGE RATES GOING UP?
Minneapolis, MN: Mortgage interest rates jumped up last week, putting a scare in those sitting on the fence, thinking about refinancing, yet waiting form rates to drop a bit lower. Lucky for them, Minnesota mortgage interest rates moved back down slowly to about where they have been holding for some time.
The big question is how long can mortgage rates remain this low?
Mortgage rates have been stuck at these amazingly low levels for the past five months. According to Freddie Mac weekly survey of mortgage rates, last week was the first time that … (0 comments)
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mortgage rates: No Closing Cost Loans Cost Money
- 01/31/12 01:20 AM
I constantly receive requests for a No Cost loan. Sadly there is no such thing.
All loans have closing costs associated with putting the loan together.
Just like you, participants in the mortgage loan process don't work for free. The Appraiser, Title Officer, Title Insurance, County Recording Fees, Minnesota Mortgage Registration Tax, as well as your lender all need to get paid as part of the process.
Each of these parties charge fees for their service in processing and funding your loan. The Lender's responsibility is to explain to you what the services and costs are, and to give you an … (1 comments)
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mortgage rates: Interest rates — you can win big or lose big if you don’t know what you are doing.
- 08/04/11 02:35 AM
Mortgage interest rates — just like stock prices — change price daily and you can win big or lose big if you don’t know what you are doing.
Everyday Loan Officers are ask “what do you think interest rates are going to do?” Of course none of us know that answer, so except for the most extreme cases on a purchase transaction, I suggest you always lock, and to do it as soon as you can. The sooner you lock your rate, the less chance you have of losing in the mortgage interest rate game
If you have a signed … (0 comments)
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mortgage rates: Is refinancing easier than buying a home?
- 07/20/11 05:13 AM
A refinance is just as easy to get as your first mortgage… right?
St Paul, MN: Many people think that refinancing is easier than buying a home for two main reasons:
1) you already have a loan on the home, you make your payments, so it should be easy to refinance. 2) your current mortgage lender already has all their information, so they with easily refinance you, and they are the best place to call **
Sorry… Not true on either count.
There are many factors that might make it hard to refinance in MN:
First, understand that no matter who … (2 comments)
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Mortgage Rates Continue To Hover Near Record Lows St Paul, MN: Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), showing fixed mortgage rates moving slightly lower while continuing to remain near their all-time lows this week amid signs of a growing economy and low inflation.
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