home affordability: Tiny Changes in Mortgage Interest Rates Prior to Halloween 2015!
- 10/29/15 09:31 AM
Today, 10/29/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.76% down from 3.79% last week. The average interest rate for 15 year fixed-rate mortgages was 2.98%, unchanged from last week. A year ago the average rate for a 30 year fixed-rate loan was 3.98%.
A Freddie Mac spokesperson stated:
"Treasury yields oscillated without a clear direction heading into the October FOMC meeting, as investors were confident there would be no rate increase. The 30-year mortgage rate was little changed, declining just 3 basis points to 3.76 percent this week. While the FOMC left rates unchanged at … (0 comments)
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home affordability: Little Change for Mortgage Interest Rates This Week - Still Under 4%
- 08/20/15 08:44 AM
Today, 8/20/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.93% up from 3.94% last week. The average interest rate for 15 year fixed-rate mortgages was 3.15%, up from 3.17% last week. A year ago the average rate for a 30 year fixed-rate loan was 4.10%.
A Freddie Mac spokesperson stated:
"There was little movement in financial markets this week as the 30-year fixed mortgage rate remained steady, dropping only 1 basis point to 3.93 percent. Overall inflation grew an underwhelming 0.2 percent year-over-year in July, but core inflation remains steady at 1.8 percent keeping chances … (0 comments)
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home affordability: Average Mortgage Rates Creep Just a bit Higher This Week
- 04/30/15 07:37 AM
Today, 4/30/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.68% up from 3.65% last week. The average interest rate for 15 year fixed-rate mortgages was 2.94%, up from 2.92% last week. A year ago the 30 year rate was 4.29%.
Freddie Mac's spokesperson said, "Mortgage rates were up slightly following a week of mixed economic releases. Real GDP grew at a paltry 0.2 percent annualized rate in the first quarter of 2015, well below expectations. However, the National Association of Realtors' pending home sales index rose 1.1 percent in March for the third consecutive month. The S&P/Case-Shiller National … (0 comments)
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home affordability: After a Week of Increases, Mortgage Interest Rates Fall Again
- 02/05/15 08:15 AM
Today, 2/5//2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.59% down from 3.66% last week. The average interest rate for 15 year fixed-rate mortgages was 2.92%, down from 2.98% last week. A year ago the 30 year rate was 4.32%.
Freddie Mac's spokesperson said, "Mortgage rates fell this week following the release of weaker than expected pending home sales, which fell 3.7 percent in December. Moreover, real GDP growth for the fourth quarter was 2.6 percent and the Institute for Supply Management reported slower growth in manufacturing last month, both missing market consensus forecasts."
Do … (2 comments)
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home affordability: Good Economic News on Many Fronts, Including Lower Mortgage Rates!
- 01/15/15 09:20 AM
Yesterday, 1/15//2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.66% down from 3.73% last week. The average interest rate for 15 year fixed-rate mortgages was 2.98%, down from 3.05% last week. A year ago the 30 year rate was 4.41%.
Freddie Mac's spokesperson said, "Mortgage rates fell for the third consecutive week as oil prices plummeted and long term treasury yields continued to drop despite a strong employment report. The economy exceeded expectations by adding 252,000 jobs in December which followed an upward revision of 50,000 jobs to the prior
two months. The unemployment rate … (0 comments)
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home affordability: At Christmas 2014 Mortgage Interest Rates Remain Very Low
- 12/24/14 06:10 AM
Today, 12/24//2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.83% up from 3.80% last week. The average interest rate for 15 year fixed-rate mortgages was 3.10%, up from 3.09% last week. A year ago the 30 year rate was 4.48%.
Freddie Mac's spokesperson said, "Mortgage rates were up slightly, following a week of mixed economic releases. Existing home sales were down 6.1 percent in November to annual rate of 4.93 million units, below economists' expectations. New home sales fell 1.6 percent last month to an annual rate of 438,000, also below expectations. Meanwhile, the … (0 comments)
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home affordability: Mortgage Interest Rates Drop to Lowest Level Since May 2013
- 12/04/14 05:47 AM
Today, 12/4//2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.89% down from 3.97% last week. The average interest rate for 15 year fixed-rate mortgages was 3.10%,down from 3.17% last week. A year ago the 30 year rate was 4.46%.
The rate of 3.89% is the lowest it has been since May of 2013! Are you going to take advantage of this situation and buy a home? Don't wait until rates go back above the 4% point and beyond!
Freddie Mac's spokesperson said, "Mortgage rates were down across the board on a week of underwhelming … (0 comments)
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home affordability: Mortgage Interest Dips Below 4% Yet Again!
- 11/20/14 06:15 AM
Today, 11/20//2014, ;Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.99% down from 4.01% last week. The average interest rate for 15 year fixed-rate mortgages was 3.17%,down from 3.20% last week. A year ago the 30 year rate was 4.22%.
Freddie Mac's spokesperson said, "Fixed mortgage rates were slightly down as housing starts declined 2.8 percent in October below the upwardly revised September rate. However, building permits increased 4.8 percent in October after a 2.8 percent boost a month earlier. Lastly, industrial production slipped by 0.1 percent in October, below the market consensus forecast."
… (0 comments)
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home affordability: Mortgage Interest Rates Fall to Lowest Level in 2014 Again This Week!
- 10/23/14 03:11 AM
Today, 10/23/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.92% down from 3.97% last week. The average interest rate for 15 year fixed-rate mortgages was 3.08%, down from 3.18% last week. A year ago the 30 year rate was 4.13%.
Freddie Mac's spokesperson said, "Fixed mortgage rates continued to fall this week after the yield on 10 year Treasuries dropped to their lowest point of the year. Existing home sales beat expectations in September clocking in at an annual rate of 5.17 million units, up 2.4 percent from August. Housing starts were up 6.3 percent in … (0 comments)
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home affordability: Mortgage Rates Slip Slightly Lower this Week. Just Slightly!
- 08/21/14 06:52 AM
Today, 8/21/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4.10% down a tad from 4.12% last week. The average interest rate for 15 year fixed-rate mortgages was 3.23%, down a little from 3.24% last week. A year ago the 30 year rate was 4.58%.
Another week with little change. But that is sure better than having the rates skyrocket, isn't it? As long as rates remain low, buyers can more easily get the properties they want and sellers can better sell their homes for a fair price. Win-win!
The problem many areas are seeing is … (0 comments)
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home affordability: Mortgage Interest Rates Remain at Very Low Levels in Summer of 2014
- 07/31/14 08:02 AM
Today, 7/31/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4.12% down a tad from 4.13% last week. The average interest rate for 15 year fixed-rate mortgages was 3.23%, down a little from 3.26% last week. A year ago the 30 year rate was 4.39%.
Freddie Mac's spokesperson said, "Mortgage rates were little changed this week with the 30-year fixed-rate mortgage rate at 4.12 percent, just a basis point lower from the previous week. Meanwhile, on Wednesday afternoon the yield on the 10-year Treasury surged as data showed gross domestic product for the … (0 comments)
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home affordability: Reports are Pointing to a Large Jump in Mortgage Interest Rates
- 06/26/13 07:59 AM
We are still a day away from the release of Freddie Mac's weekly interest rate survey. But from what I am hearing, the rates are not going to "inch" upward, they are going to take a leap upward. Some say to nearly 4.5%!
Just last Thursday, they reported that after six weeks of increases, the rates had settled down a little and were at a reasonable 3.93%. Then by the weekend I was hearing about reports that rates were going to go up by more than just a bit. On a loan, that can mean hundreds of dollars more in monthly payments … (1 comments)
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home affordability: For 3rd Week in a Row, Average Mortgage Interest Rates Increased!
- 05/23/13 06:22 AM
Today, 5/23/2013 Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.59% up from 3.51% last week. The average interest rate for 15 year fixed-rate mortgages was 2.77%, up from 2.69% last week. A year ago the 30 year rate was 3.78%.
Three weeks ago when I asked if "the party could be over?", I was not so sure. But this is the third week of increases so it very well could be that instead of seeing steady decreases week-after-week, we will now see increases. Many economists are saying that average mortgage interest rates will be close … (0 comments)
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home affordability: For Second Week, Average Mortgage Interest Rates Increase!
- 05/16/13 04:01 AM
Today, 5/16/2013 Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.51% up from 3.42% last week. The average interest rate for 15 year fixed-rate mortgages was 2.69%, up from 2.61% last week. A year ago the 30 year rate was 3.79%.
Last week when rates rose, I asked: "Could the party be over? Will intersest rates continue to rise?" Well, at least this week we have a partial answer and it is "Yes". We now have to wait to see if this becomes a trend as many think it will. Also keep in mind that in many parts … (0 comments)
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home affordability: How Much Farther Can Average Mortgage Interest Rates Fall?? Now 3.67%!
- 06/07/12 03:32 AM
Today, 6/7/2012, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgages was 3.67%, down from 3.75% last week. The average interest rate for 15 year fixed-rate mortgages was 2.94%, down from 2.97% last week. A year ago the 30 year rate was 4.49%. Each week I tell myself that the rates cannot go any lower. Then within 7 days, I have to eat my words again. I guarantee you that there is a bottom to which they cannot go lower, but I have given up trying to guess where that level could be. But without a doubt there are some … (0 comments)
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