california: Rates on the Rise - Weekly Mortgage Update: Week of August 20, 2012
- 08/20/12 02:58 AM
Mortgage markets worsened for the third straight week last week as the U.S. economy showed new signs of expansion, and as little new news came from Europe. August has been a rough month for rate shoppers. Since the start of the month, mortgage rates in Phoenix have climbed steadily and are now at a 7-week high. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage is 3.62% nationwide, on average, for homeowners willing to pay 0.6 discount points plus a full set of closing costs. 1 discount point is equal to one percent of your loan size. Homeowners … (2 comments)
california: Weekly Mortgage Update: Week of July 23, 2012
- 07/23/12 07:22 AM
Mortgage markets improved last week on expectations for new Federal Reserve stimulus, plus ongoing concerns about the European Union's future. Mortgage-backed bonds climbed to new all-time highs, which helped conforming mortgage rates drop to new all-time lows. The average 30-year fixed-rate mortgage rate is now 3.53% nationwide, according to government mortgage-backer Freddie Mac's weekly mortgage rate survey. The 3.53% rate is available to mortgage applicants willing to pay 0.7 discount points plus a full set of closing costs where 1 discount point is equal to 1 percent of your loan size. The 15-year fixed-rate mortgage rate dropped last week, too, falling to … (0 comments)
california: Weekly Mortgage Update: Week of July 16, 2012
- 07/16/12 06:03 AM
Mortgage markets improved last week on slowing economic growth worldwide and investor thirst for "safe" investments. China's economy posted to its weakest growth since 2009 and economic activity in the Eurozone continued to sag. Both events resulted in a broad-based sell-off of equities and non-U.S. bonds. Mortgage bonds benefited from last week's flight-to-quality as bond pricing moved higher. When mortgage bond prices rise, mortgage rates fall. According to Freddie Mac, the average 30-year fixed rate mortgage rate is now down to 3.56% nationwide for borrowers willing to pay 0.7 discount points plus a full set of closing costs. The 15-year fixed rate mortgage … (0 comments)
california: Weekly Mortgage Update - Week of July 2, 2012
- 07/02/12 07:38 AM
Mortgage markets improved only slightly last week despite a large 2-day rally that lasted through Wednesday and Thursday. Unfortunately for mortgage rate shoppers in Scottsdale , markets were worse throughout the other 3 days of the week, which kept mortgage rates from dropping to new all-time lows. As with many weeks since the start of the year, political and economic action within the Eurozone dictated the direction of domestic mortgage rates. Last week's 2-day EU Summit was the major driver of markets. In the days leading up to the summit, mortgage rates worsened as optimism in the summit's outcome grew. This … (0 comments)
california: Weekly Mortage Update: week of May 14, 2012
- 05/14/12 04:41 AM
Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone's future. Political and economic issues continue to weigh on Greece and Spain, and it's still unknown how France's new President will change that nation's fiscal direction. Conforming mortgage rates in Arizona edged higher on the week overall. Last week was light on economic data, but the figures released suggest an improving U.S. economy. For example, the Bureau of Labor Statistics reported 3.7 million job openings nationwide this past March, marking the highest amount since July 2008. Voluntary separations (i.e. "quit jobs") increased, too -- … (0 comments)
california: A Simple Explanation Of The Federal Reserve Statement (April 25, 2012)
- 04/25/12 04:56 AM
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent Wednesday. For the fifth consecutive month, the Fed Funds Rate vote was nearly unanimous. Just one FOMC member, Richmond Federal Reserve President Jeffrey Lacker, dissented in the 9-1 vote. The Fed Funds Rate has been near zero percent since December 2008. It is expected to remain near-zero through 2014, at least. In its press release, the Federal Reserve noted that the U.S. economy has been "expanding moderately" since the FOMC's last meeting in March. Beyond the next few quarters, the … (0 comments)
california: What's Ahead For Mortgage Rates This Week : April 24, 2012
- 04/24/12 04:54 AM
Mortgage markets were mostly unchanged last week, breaking a three-week winning streak. Wall Street grappled with surprising demand on Spain's debt issuance and a series of weaker-than-expected data points on U.S. housing. Conforming mortgage rates across Arizona rose slightly according to the weekly Freddie Mac Primary Mortgage Market Survey. Nationwide, the 30-year fixed rate mortgage rate climbed 2 basis points to 3.90%. This rate is available to homeowners willing to pay 0.8 discount points and a full set of closing costs, where 1 discount point is equal to 1 percent of the borrowed amount. Prior to last week's survey, just 0.7 … (2 comments)
california: Loans For Underwater Homeowners : HARP 2.0 Now Available
- 03/20/12 04:19 AM
The new, revamped HARP program is now available in Arizona and nationwide. It was officially released Saturday, March 17, 2012 by Fannie Mae and Freddie Mac. HARP is an acronym. It stands for Home Affordable Refinance Program. HARP is the conforming mortgage loan product meant for "underwater homeowners". Under the HARP program, homeowners in Phoenix can get access to today's low mortgage rates despite having little or no equity whatsoever. HARP is expected to reach up to 6 million U.S. homeowners who would otherwise be unable to refinance. HARP is not a new program. It was originally launched in 2009. However, … (0 comments)
Mortgage markets worsened for the third straight week last week as the U.S. economy showed new signs of expansion, and as little new news came from Europe.
;)
;)
