arms: Mortgage Rates Fall and Hit New Low for 2010 - 02/28/10 06:10 PM
The 30 year rate fell from 4.97 to 4.93 this week. Overall rates have been pretty stable. In fact during all of 2010 30 year mortgage rates have stayed between 4.93 and 5.09. This is the 2nd week in a row where rates have fallen. The current rate of 4.93 is the lowest rate reached in 2010 and is somewhat near the all time low of 4.71 reached on December 3, 2009.

The other major mortgage products fell as well this week. The 15 year dropped from 4.34 to 4.33. The 5 and 1 year arms dropped from 4.19 to … (0 comments)

arms: Mortgage Rates The Volatility is Gone - 02/08/10 04:07 PM
After dropping for 4 weeks in a row the 30 year rate rose slightly this week moving from 4.98 to 5.01. The 15 year rose from 4.39 to 4.40. The 5 and 1 year arms rose from 4.25 to 4.27 (5 year arm) and 4.29 to 4.22 (1 year arm). Below are rates from the weeks from Jan 07, 2010 to Feb 04, 2010

Feb 04, 2010
30-fixed 5.01 15-fixed 4.40 5 ARM 4.27 1 ARM 4.22

Jan 28, 2010
30-fixed 4.98 15-fixed 4.39 5 ARM 4.25 1 ARM 4.29

Jan 21, 2010 … (3 comments)

arms: Mortgage Rates Fall For The Third Week In A Row - 01/24/10 05:28 PM
The 30 year rate fell from 5.06 to 4.99 this week. This marks the 3rd week in a row where rates have fallen. Although rates have been falling they are still quite a bit off the all time low of 4.71 we saw on December 3, 2009. That said it's nice to see rates falling again. Looking at other rates the 15 year dropped from 4.45 to 4.40. The 5 and 1 year arms dropped from 4.32 to 4.27 (5 year arm) and 4.39 to 4.32 (1 year arm). Below are rates from the weeks from Dec 24, 2009 to Jan … (0 comments)

arms: Mortgage Rates Rise Off of Historic Lows - 12/14/09 04:55 PM
Two weeks ago mortgage rates hit historic lows with the 30 year falling to 4.78. The next week they fell even further to 4.71. This week they rose back up to 4.81. Although they rose a tenth of a point the mortgage rates are still near historical lows. Below are the nine lowest rates of all time. Not surprisingly they all occurred in 2009.

1. Dec 3rd - 4.71
2. April 30th - 4.78
3. April 2nd - 4.78
4. Nov 26th - 4.78
5. April 23rd - 4.80
6. Dec 10th - 4.81
7. April 16th - 4.82
8. … (0 comments)

arms: Mortgage Rates Reach New All Time Lows - 12/05/09 06:14 PM
Last week mortgage rates matched their all time low of 4.78. This week rates fell even further reaching a new low of 4.71. To put this in some context in terms of historical mortgage rates before the last 12 months the all time low was 5.24 which was reached in the middle of 2003. Today's rates are a full half point below that.

Although the 30 year rate is the most significant of the 4 major mortgage products the other 3 fell as well. The 15 year mortgage hit a new all time low for the second week in … (0 comments)

arms: Mortgage Rates Plummet: 6th Lowest of All Time - 11/22/09 05:04 PM
Rates fell for the third straight week. They hit the lowest point since May 21st and they reached the 6th lowest point in history. It will come as no shock to those that have been following rates that the 5 lower rates all occurred this year. Below are the 6 lowest rates of all time.

April 30th - 4.78
April 2nd - 4.78
April 23rd - 4.80
April 16th - 4.82
May 21st - 4.82
Nov 19th - 4.83

As we can see although it's the 6th lowest it's extremely close to the all time low of 4.78 reached … (0 comments)

arms: Preparing to Buy a Home - 11/15/09 05:06 PM
Are you preparing to buy a home for the first time? Or have you closed on a number of homes in the past and are preparing to buy your next home? Regardless, you'll want to keep in mind the steps necessary to successfully navigate the preparations for buying that next home.

Initially, you'll want to determine your income, debts and savings and decide what you can afford. Instead of doing all the calculations and attempting to make the determinations yourself, you may want to decide on a reputable lender and have them do it for you through a prequalification. If … (4 comments)

arms: Mortgage Rates Continue To Rise: Are Sub 5 Rates Gone Forever? - 11/01/09 04:57 PM
So are sub 5.0 rates gone forever? The short answer is probably yes. While rates might briefly fall below 5 in the next month for the most part the era of sub 5.0 rates is over. Mortgage rates rose for the third straight week. The thirty year rate rose from 5.00 to 5.03. The 15 year rate rose from 4.43 to 4.46. The 5 and 1 year rates rose from 4.40 to 4.42 and 4.54 to 4.57. Its interesting to note that the 1 year arm has had a higher rate than the 5 year arm for the last few weeks. … (0 comments)

arms: Mortgage Rates Start to Rise - 10/15/09 09:11 PM
After falling for the last 6 weeks mortgage rates started to rise this week. The 30 year rate rose from 4.87 to 4.92. The 15 year mortgage rose from 4.33 to 4.37. Both arms rose as well with the 5 year arm rising from 4.35 to 4.38 and the 1 year arm rising from 4.53 to 4.60. Below are mortgage rates for the last several weeks along with mortgage rates from March 19, 2009.

Oct 15, 2009
30-yr 4.92 15-yr 4.37 5-yr ARM 4.38 1-yr ARM 4.60

Oct 08, 2009
30-yr 4.87 15-yr 4.33 5-yr … (1 comments)

arms: Mortgage Rates Remain at Summer Lows - 09/29/09 05:52 PM
Mortgage rates remained steady this week. The 30 year again was at 5.04 which is a low for the summer. The other mortgage products remained relatively stable this week except for the 1 year arm which fell from 4.58 to 4.52. Below are rates for the last few weeks. As we can see overall for the last month rates have been steadily falling. But overall the movement has been very small with 30 year rates only dropping 1/10 of a point in the last month.

Sep 24, 2009
30-yr 5.04 15-yr 4.46 5-yr ARM 4.51 1-yr ARM 4.52
… (0 comments)

arms: The 5 Year ARM Hits A Low For The Year - 07/24/09 09:38 PM
The 5 Year arm dropped from 4.83 to 4.74 this week reaching a low for the year. What is interesting is that we have moved back to a normal state when comparing the 4 major mortgage products to each other. Earlier this year the 5 year arm fell below the 30 year fixed rate which is highly unusual. This basically made the five year arm pointless for borrowers. But with the drastic fall in the 5 year rate in the last few weeks we are now starting to see a normal relationship between the 5 year arm and the 30 year … (1 comments)

arms: Mortgage Rates Fall For the Fourth Week in a Row - 07/10/09 10:22 PM
The 30 year mortgage rate fell from 5.32 to 5.20 this week. This marks the fourth week in a row where the 30 year rate has fallen. The rate is not at the all time lows we saw earlier this year. To put it in perspective that 30 year mortgage rate is currently 5.20 and the most recent high was 5.59 (on June 18th, 2009) and the all time low was 4.78 (on April 30th 2009). So mortgage rates are down but not back to their all time lows. Historically though rates are pretty low. In fact rates today are lower … (2 comments)

arms: Mortgage Rates Fall Again - 07/03/09 08:53 PM
Mortgage Rates fell this week with the 30 year rate dropping from 5.42 to 5.32. They have fallen .27 points from their recent high of 5.59 reached on June 11, 2009. Rates are still up from the all time low of 4.78 they reached on April 30, 2009. Except for the 1 year arm the other major rates dropped as well. The 15 year fixed rate dropped from 4.87 to 4.77 and the 5 year arm dropped from 4.99 to 4.88. The one year arm rose slightly from 4.93 to 4.94. Below are rates for the last few weeks.

Jul … (1 comments)

arms: Mortgage Rates Fall Back to Previous Lows - 02/21/09 05:03 PM
Mortgage rates fell for the second week in a row. 30 year rates fell to a 40 year low to start the year dropping down to 4.96 on January 15th. After that rates rose up to 5.25. Now rates have fallen back to almost reach their previous lows. In fact this is the lowest rates have been in 40 year with the exception of the first two weeks of 2009. Below are rates for the last few weeks.

Feb 19, 2009
30-yr 5.04 15-yr 4.68 5-yr ARM 5.04 1-yr ARM 4.80

Feb 12, 2009
30-yr 5.16 … (0 comments)

arms: Mortgage Rates Move Down - 02/16/09 12:42 PM
Mortgage rates came down a little this week. We are still not back down to the levels we saw two weeks ago. 30 year rates fell from 5.25 to 5.16. This is a little higher than the 5.10 we saw two weeks ago and .2 points higher than the 4.96 we saw 4 weeks ago. But to put this all in perspective if we neglect the last month 5.16 is still one of the lowest rates we have seen in over 40 years.

One point of confusion is that when looking at average rates people relate it to a rate … (1 comments)

arms: After Hitting Historic Lows Mortgage Rates Jump Up - 02/06/09 07:55 PM
After falling for the last 2 months 30 year mortgage rates jumped up this week. The 30 year mortgage went from 5.10 to 5.25. This is the highest we have seen December 11, 2008. The 15 year mortgage moved up as well from 4.80 to 4.92. Below are rates for the last few weeks.

Feb 05, 2008
30-yr 5.25 15-yr 4.92 5-yr ARM 5.26 1-yr ARM 4.92

Jan 29, 2008
30-yr 5.10 15-yr 4.80 5-yr ARM 5.27 1-yr ARM 4.90

Jan 22, 2008
30-yr 5.12 15-yr 4.80 5-yr ARM 5.24 1-yr ARM 4.92 … (0 comments)

arms: Mortgage Rates Hold Steady - 01/29/09 06:54 PM
Mortgage rates for the most part held steady this week. The 30 year rate dropped from 5.12 to 5.10. Rates are still at historic lows. The rates for the last month have all been below anything we have seen in the last 40 years since we started tracking weekly mortgage rates. The 15 year rate held steady at 4.8. The 5 year arm rose from 5.24 to 5.27 and the 1 year arm dropped from 4.92 to 4.90. What the numbers below don't reflect is that rates mid week were a little higher midweek. But by the end of the week … (2 comments)

arms: Mortgage Rates Move Up For First Time In 3 Months - 01/25/09 06:47 PM
All good things must come to an end. After 12 weeks of falling rates interest rates went up this week. The 30 year rate went back above 5 jumping from 4.96 to 5.12. Below are rates from the last few weeks and October 30 which was when rates first started to fall.

Jan 22, 2008
30-yr 5.12 15-yr 4.80 5-yr ARM 5.24 1-yr ARM 4.92

Jan 15, 2008
30-yr 4.96 15-yr 4.65 5-yr ARM 5.25 1-yr ARM 4.89

Jan 08, 2008
30-yr 5.01 15-yr 4.62 5-yr ARM 5.49 1-yr ARM 4.95

… (3 comments)

arms: Mortgage Rates Fall For The 12th Week In A Row - 01/17/09 07:07 AM
This is getting just ridiculous. This is now the 12th week in a row where mortgage rates have fallen. Ok one small caveat to that this is the 12th week where the 30 year mortgage rate has fallen. But in the current environment the 30 year mortgage rate is almost the only mortgage product that matters. The 30 year rate fell this week from 5.01 to 4.96. The 5 year arm fell (from 5.49 to 5.25) and the 1 year arm declined slightly (from 4.95 to 4.89). But frankly who cares, as long as these rates stay above the 30 year … (2 comments)

arms: Mortgage Rates Continue To Fall - 01/09/09 06:28 PM
This is now the 11th week in a row where 30 mortgage rates have fallen. It also marks the 4th week where mortgage rates have hit new 40 year record lows. In this market the 30 year mortgage product has become by far the most used mortgage product. This is because the other mortgage rates offer rates similar to the 30 year but with shorter time spans making them somewhat pointless.

The 30 year mortgage fell from 5.10 to 5.01. At this point its hard to see the streak of consecutive drops in the 30 year rate continue much longer. … (4 comments)