August 28th Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 28th, 2009  

Mixed data leaves mortgage rates largely unchanged. While the stock market has dipped a bit (which is normally good for mortgage-backed securities or MBS rates), and while personal income remained flat and there wasn’t a hint of inflation to worry about, consumer spending was up (mostly attributed to the Cash for Clunkers program) and the University of Michigan’s Consumer Sentiment index came in slightly higher than expected.

August 27th Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 27th, 2009  

If you’ve been watching mortgage rates to get your jollies then you have had a boring week so far. Give up a bit today, take it back tomorrow. And the movements either way have not been large enough to write home about or affect anyone’s mortgage rate much. Yesterday’s Treasury Department’s 5 year note auction was deemed a success, with above-average demand allowing lenders to continue to offer attractive mortgage interest rates.

August 26th Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 26th, 2009  

Program
Rate

30 Year FRM
5.13%
Better by .01%

15 Year FRM
4.28%
Better by .02%

5/1 Year ARM
3.85%
Better by .02%

Jumbo 30 Year FRM
5.62%
Better by .03%

Here is today’s look at best mortgage rates, (which do not include discount points, origination points, or loan level risk based price adjustments) provided by Mortgage News Daily, Freddie Mac, and other sources. Note that Freddie Mac’s AVERAGE more...

August 24th Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 19th, 2009  

Rates hung in there virtually unchanged as the stock market took off–although there were bumps during the day as the National Association of Realtors released their report showing much stronger sales of existing homes than expected. This caused stocks to hit ‘09 highs and mortgage-backed securities (MBS) to get clobbered in the marketplace–briefly.

August 18 Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 18th, 2009  

The stock market recovered some this morning, and mortgage-backed securities (MBS) and bonds gave back some of their gains from yesterday, likely based on reports that inflation is unlikely to be a problem for some time. Of course, the downside of that is the consumers keeping a tight hold on their wallets doesn’t help the economy and it’s fragile enough as it is.

August 17th Best Mortgage Interest Rates and Lock Recommendation

By: Liz Freeman
August 17th, 2009  

The stock market has been battered this morning, reacting to losses in international markets that occurred while we were enjoying the weekend. Remember the term I mentioned Friday? Tape-bombs, which are events that occur when the markets are closed over the weekend and affect our finances while we can’t do anything about it.