Posted on 15 July 2009
Tags: 15-year fixed, 15-year fixed mortgage rates, 30 year fixed mortgage rate, Business, Finance, fixed mortgage, fixed rate mortgage, Interest Rates, jumbo loans, jumbo mortgage, Mortgage, mortgage loan, mortgage rate trends, Real Estate, Super jumbo mortgage
Mortgage interest rates for Jumbo loans have also gone down in previous week. Due to this decline, the difference between normal mortgage rates and jumbo rates is also reduced. Spread has narrowed so to speak.
During Last year, as we entered the credit crisis, banks were very reluctant to give Jumbo Loans. For those lucky few, who got the loan, the interest rate charged on Jumbo loans was sky high. I know a friend who paid 2.5 percent more than the prevailing interest rate for conforming mortgage rates. 
Current trend in jumbo mortgage rates is that it is now back to normal. By normal, it means that you can now easily find a Jumbo Loan with mortgage rates that are only less than one percent above the conforming mortgage rates.
Read the full story
Posted on 09 January 2009
Tags: 15-year fixed, 30-year fixed, adjustable rate mortgage, advantage of fixed mortgage, bank, bank spokesman, Cameron Findlay, central bank, CHICAGO, chief economist, disadvantage of fixed mortgage, Federal Reserve System, fixed rate mortgage, freddie Mac, home finance, home owners, house owners, insurance rates, is fixed mortgage right for me, JPMorgan Chase & Co, LendingTree, long term mortgage rate, Mortgage Bankers Association, mortgage broker, mortgage rate low, Mortgage Rates, New York Times, Orawin Velz, purchase applications, Reuters, Sponsored Agency, Thomas Kelly, time to refinance mortgage, united states, vice president for economic forecasting, Wall Street Journal, Wall Street Journal Reports, what does it mean for, will mortgage rate go down
Mortgage rates in U.S. have fallen to another record low as the week closes. It is has declined for 10th consecutive week this time.
As Freddie Mac reported this Thursday that 30-year fixed rate mortgage yields have averaged about 5.01% for the week ending on January 8th, 2009. it is a 9 basis point decline from last weeks’ rate. It is nice to compare it with the rates this time last year. which were 5.87% .
Since The Govt. Sponsored Agency Freddie Mac started the survey(1971), this is the lowest reported level for these rates.
15-year fixed rate mortgage is even lower at 4.62%. It is has declined sharper from 4.80% levels of last week and a down hill slide of 5.43% level of this time, last year. It is said to be the lowest reported rate since June 13, 2003.
It is expected that this will impact on adjustable-rate mortgage especially the 5-year adjustable mortgages which averaged about 5.5% this week down from 5.7% last week.
Plain English: What does it mean for house owners
Well, the the house owners around US are struggling with increased cost of living and job uncertainty, these attractive rates can offer real relief in terms of monthly amount spent on home loan re-payments. Most of the homeowners will see this as an opportunity to get rid of expensive adjustable rate mortgage and get a fixed payment loan instead for the peace of mind that comes with it. As It the fixed-rate mortgages are not likely to go down any further, It is a good time to bet on them.
Read the full story
