Mortgage Rates Fall for Week of June 29
By: Liz Freeman
June 29th, 2009
Rates genrally fell for the week of June 29, although rates for 15 year fixed rate mortgages rose slightly.
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StumbleUponJune 29th Best Rates / Lock Recommendation
By: Liz Freeman
June 26th, 2009
Mortgage-backed securities (MBS) markets opened unbelievably strongly last Friday, effectively lowering rates by about .25%. If you jumped on that and locked, congratulations. Today’s investors seemed to look more closely at last weeks optimistic economic data (bad for MBS and interest rates) and today they moved toward equities, with MBS giving back nearly all their gains from Friday this morning.
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June 24 Best Rates / Lock Recommendation
By: Liz Freeman
June 25th, 2009
Program
Rate
30 Year FRM
5.18%
Better by .03%
15 Year FRM
4.65%
Better by .03%
5/1 Year ARM
3.92%
Better by .02%
Jumbo 30 Year FRM
5.49%
Better by .03%
Here is today’s look at best mortgage rates (which may require points), provided by Mortgage News Daily, Freddie Mac, and other sources. Note that Freddie Mac’s AVERAGE rates are typically higher than BEST rates, because average more...
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Mortgage Rates Mixed for Week of June 22
By: Liz Freeman
June 22nd, 2009
Rates for a 30 year fixed rate mortgage (FRM) and five year adjustable rate mortgages (ARMs) rose last week, but rates for a 15 year FRM fell slightly.
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Frank Says US Will Have More Renters
By: Liz Freeman
June 19th, 2009
At a speech today for the National Association of Real Estate Editors (NAREE), Congressman Barney Frank (D-MA) restated his view that “homeownership for all as a goal is flawed.” And that as there are many buyers or former buyers out there who would be “more appropriately renting”, that “rent reform” will also be a more...
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June 16 Best Rates / Lock Recommendation
By: Liz Freeman
June 16th, 2009
Mortgage-backed securities (MBS) markets gave back some of yesterday’s improvements this morning. However, it’s still early. Bond prices are up due to a $6.5 billion dollar Fed purchase but those gains haven’t translated to breaks on mortgage rates yet.
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Down Payment Got You Down? Try a Pledged Asset Mortgage
By: Liz Freeman
June 15th, 2009
Yes, the stock market has been improving lately, yay. But selling stocks to fund a down payment on property could still leave you with a big fat loss you’d rather not take.
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Best Jun 15 Interest Rates / and Lock Recommendation
By: Liz Freeman
June 15th, 2009
This week, treasury auctions will not be the driving factor they were last week. Investors will be receiving several important reports that will undoubdtedly influence the tug-of-war between Mortgage-backed securities (MBS) and equities. Monday’s Empire State manufuacturing Survey, Tuesday’s Housing Starts and Producer Price Index (PPI), Wednesday’s Consumer price Index (CPI), and Thurday’s weekly jobless claims will be the ones to watch.
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Mortgage Rates Fall for Week of June 15
By: Liz Freeman
June 15th, 2009
Home buyers and homeowners who’ve held out for lower rates got their wish during the week of June 15. Rates for a 30 year fixed rate mortgage (FRM) averaged 5.47%, down from 5.70% last week.
June 30th Best Mortgage Rates and Lock Recommendation
By: Liz Freeman
June 30th, 2009
The stock market indexes are largely down, and the bond market hasn’t done its usual move in the opposite direction — benchmark 10 year bonds are yielding 3.5%. What gives? A mixed bag of economic reports has made investors nervous and many subscribe to the “when in doubt, wait it out” theory. So no one’s doing the happy dance except apparently Ruth Madoff.
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