mortgages: Average Mortgage Interest Rates Change Little This Week: Freddie Mac
- 04/23/09 07:01 AM
Today, 4/23/09, Freddie Mac announced that the average mortgage interest rate for 30 year fixed-rate mortgages was just 4.80% (4.80% in the southeast), down from 4.82% a week ago. The average interest rate for 15 year fixed-rate mortgages was 4.48%, unchanged from 4.48% last week. A year ago the 30 year rate was 6.03%. Rates went up a bit last week, but this week they settled lower again. Though fixed-rate loans were down, adjustable rate mortgages (ARMs) were high relative to those. In fact, the interest rate for a 1-year ARM was higher than it was for a 30 year fixed-rate loan! That is the first time that has … (0 comments)
mortgages: Realtors® Push for 4.5 Percent Interest Rate Buy-Down
- 12/16/08 04:29 AM
Washington, December 15, 2008 A federal mortgage interest buy-down program would help spark the housing market, the National Association of Realtors® said in a letter sent today to James B. Lockhart, chairman of the Oversight Board of the Federal Housing Finance Agency. NAR seeks a 4.5 percent mortgage interest rate buy-down program financed through the U.S. Treasury Department’s Troubled Asset Relief Program. In the letter to FHFA, NAR shared three potential implementation procedures for a federal buy-down plan: TARP would fund the payment of points at the individual level. The Federal Home Loan Banks would raise funds by selling below-market-rate … (0 comments)
mortgages: Mortgage Interest Rates Take a Drop: Freddie Mac
- 07/31/08 06:57 AM
Today 7/31/08 Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans moved lower again. After last week's large jump, this is welcome news. Though I would love to see it go down even more. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.52% (6.48% in the southeast), down from 6.63% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.07%, down from 6.18% last week. A year ago the 30 year rate was 6.68%. A drop in commodity prices ( I suspect the slight drop … (0 comments)
mortgages: Uh-oh!! Mortgage Interest Rates Take a Big Jump This Week!
- 06/12/08 08:17 AM
It was not too long ago when I warned everyone several times that at some point either home prices or mortgage interest rates would start to go up, perhaps fast. Well, today 6/12/08 Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans had both moved up markedly. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.32% (6.27% in the southeast), up from 6.09% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.93%, up from 5.65% last week. A year ago the 30 year rate was … (0 comments)
mortgages: Freddie Mac: Interest Rates Rise! Did You Get Caught?
- 04/24/08 11:20 AM
Today 4/24/08 Freddie Mac reported that after several weeks of no upward movement of mortgage interest rates and with the average rate well under 6%, average mortgage interest rates for 30 and 15 year fixed-rate loans have moved upward once again. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.03% (6.00% in the southeast), up from 5.88% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.62%, up from 5.40% last week. A year ago the 30 year rate was 6.16%. How many of you were waiting to see if the rates had … (0 comments)
mortgages: Freddie Mac: This Week Average Interest Rates Return to Where They Were 2 Weeks Ago
- 12/13/07 09:40 AM
Today 12/13/07, Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans returned to nearly the same levels they were at 2 weeks ago. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.11% (6.06% in the southeast), up from 5.96% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.78%, up from 5.65% last week. Since the Federal Reserve dropped their rates by 0.25%, one would think that the interest rates on mortgages would also drop. However, this often seems to be the opposite of what … (0 comments)
mortgages: Freddie Mac: Another Nice Drop in Interest Rates. Now Lowest in TWO Years!
- 11/29/07 06:51 AM
Thursday 11/29/07, Freddie Mac reported that the average mortgage interest rates for 30 and 15 year fixed-rate loans dropped again, by quite a bit, from last Thursday's averages. Nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.10% (6.05% in the southeast), down from 6.20% a week ago. The average interest rate for 15 year fixed-rate mortgages was 5.73%, down from 5.83% last week. These are the lowest the averages have been in more than two years! "Interest rates for US Treasury securities have been drifting lower this month over market concerns that the housing slump and stress … (0 comments)
mortgages: National Association of REALTORS: Mortgage Problems Continue to Hamper Pending Home Sales
- 10/03/07 06:53 AM
WASHINGTON, October 02, 2007 - Pending sales of existing-homes activity will be dampened near-term as mortgage disruptions continue to impact the housing market, according to the National Association of Realtors®. The Pending Home Sales Index*, a forward-looking indicator, fell 6.5 percent to a reading of 85.5 from an upwardly revised 91.4 in July, based on contracts signed in August. It was 21.5 percent below the August 2006 index of 108.9. Lawrence Yun, NAR senior economist, said the mortgage market impact is quantifiable. “Fewer contracts were being written because of mortgage availability issues, and a separate internal survey of our members shows … (0 comments)
mortgages: National Association of REALTORs: Mortgage Problems to Dampen Home Sales in the Short Term
- 09/11/07 06:53 AM
WASHINGTON, September 11, 2007 Tighter credit for home mortgages will measurably dampen home sales in the short term and postpone an expected recovery for existing-home sales until 2008, according to the latest forecast by the National Association of Realtors®. Lawrence Yun, NAR senior economist, said unusual disruptions in the mortgage market are dampening the outlook for home sales, notably for August and September. “There’s been an unusual hit to home sales, starting in March when subprime problems emerged and more recently when problems spread to jumbo loans, with many potential buyers on the sidelines. “However, the jumbo loan market … (0 comments)
mortgages: Countrywide Financial Goes Looking For Money
- 08/17/07 01:29 AM
From many sources I am hearing that Countrywide Financial Corp. is borrowing money to meet its needs in a housing market that is currently on the ropes. Countrywide is one of the largest mortgage companies in the United States. My own mortgage is with them. Word is that they had to borrow $11.5 billion to fund their loan obligations. As you have read in some of my recent posts, several smaller companies were not able to borrow funds, and therefore entered bankruptcy leaving buyers and sellers at closing tables with no money with which to fund the loans that they had … (0 comments)
mortgages: The Mortgage Prepayment Penalty Predicament
- 07/28/07 08:04 AM
I was just at a home to do a market analysis for the owners. I toured the home and made recommendations as to how they could stage the home and make cosmetic changes so that we could get the best price possible for them. The home had been listed with another agent that I know. That agent is very good, yet the home had been shown very little during the last listing period. In all likelihood, it is the price that is the issue. In my initial estimation, the best price would be around $199,000. At that price the home would … (0 comments)
mortgages: Tips For Avoiding Predatory Lenders in Florida and the Rest of the United States
- 07/09/07 03:40 AM
A couple of years ago I had some buyers I was working with. They chose to use a mortgage broker that I was unfamiliar with. All seemed to go well until we got to the closing table. It appeared that the loan terms the buyers had been given earlier on had changed drastically. They had a loan that was a variable rate mortgage with an interest rate that could change every month. They did not know this. At that late date the buyers felt that their backs were to the wall and they decided to proceed with their purchase. They now … (0 comments)
mortgages: Freddie Mac Reports That Average Mortgage Interest Rates Have Dropped Slightly
- 06/21/07 06:14 AM
Today Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.69% (6.65% in the southeast), down from 6.74% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.37%, down from 6.43% over last week. Market worries that the housing market will be a drag on the economy for a longer period helped to ease the recent upward movement of interest rates over the past several weeks. Homebuilder optimism dropped to a 16 year low and new housing starts fell for the first time in 4 months. Do keep in … (1 comments)
mortgages: Mortgage Interest Rates Take Another Nasty Rise According to Freddie Mac
- 06/14/07 07:20 AM
Today Freddie Mac reported that nationally the average mortgage interest rate for 30 year fixed-rate mortgages was 6.74% (6.71% in the southeast), up from 6.53% a week ago. The average interest rate for 15 year fixed-rate mortgages was 6.43%, up from 6.22% over last week! The 30 year rate has not been higher since July 20, 2006! The sharp rise in mortgage rates was the biggest that the housing market has seen in over 3 years, according to a Freddie Mac spokesperson. These interest rate increases mirror the similar increases in the rising yields on Treasury securities as worries about inflationary … (0 comments)
Real estate news, opinions, and listings from Zephyrhills, Pasco County, Florida and the west central region of Florida in general. Licensed in Florida.
Today, 4/23/09, Freddie Mac announced that the average mortgage interest rate for 30 year fixed-rate mortgages was just 4.80% (4.80% in the southeast), down from 4.82% a week ago. The average interest rate for 15 year fixed-rate mortgages was 4.48%, unchanged from 4.48% last week. A year ago the 30 year rate was 6.03%. Rates went up a bit last week, but this week they settled lower again.
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