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Mortgage Rates

U.S. Mortgage Rates Fall to 5.12%

by noor on August 20, 2009

in Banks, Interest Rates, Mortgage, News

This week, the mortgage rates for 30-year fixed loans fell to the lowest level since May. This has led to reduced borrowing costs for hesitant buyers. Recent signs show that the recession in the U.S. housing market may be bottoming.

falling homes in a row

According to Freddie Mac of McLean, Virginia, the average 30-year rate fell to 5.12 percent from 5.29 percent. The 15-year rate was 4.56 percent.

The fall in home prices and a government tax credit for first- time buyers is reinforcing the tepid demand. According to the Washington-based MBA, the Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan rose 5.6 percent to 527.

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Bond yields indicate upward trend in Mortgage Rates

by R. MAK.August 7, 2009 Interest Rates

There are signals that mortgage interest rates will go up in near future. Leading indicator for this trend is increase in yields for mortgage-bonds issued by Fannie Mae and Freddie Mac. Upward trend is quite strong as it is persistent since last five days.

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Weekly Review: Current Mortgage Rates

by R. MAK.July 14, 2009 Interest Rates

short term outlook for 15-year fixed rate mortgage is at around 4.50 percent +/- 10 basis points. It is interesting to know that on June 15th, 2009 the 15 year fixed rate mortgage were averaging at 5.20 percent.

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US Mortgage Rates Drop to 5.32%, Freddie Mac Says

by R. MAK.July 2, 2009 Interest Rates

This week in the U.S. mortgage rates fell.It was said by mortgage buyer Freddie Mac of McLean, Virginia, in a statement that the average 30-year rate dropped to 5.32% which was 5.42%.

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What FED can do about mortgage rates?

by R. MAK.June 24, 2009 Interest Rates

A meeting of The Federal Open Market Committee held today, and while any changes to short-term interest rates are light-years away, many have the question in their minds that if the Fed will further target long-term interest rates.

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Will Mortgage Rates Go Up or Down?

by R. MAK.June 15, 2009 Interest Rates

There is a confusion about the mortgage rates among those who are thinking to apply for a mortgage refinance and even among those also who are passing through the refinance process. People now are not sure that whether the mortgage rates go up or down. The current conditions of housing market are indicating that the borrowers should not refinance at this stage. So what should they do? Should they quit and try again later? I don’t think so that the only solution is to quit. Here are a few things that you should take into consideration before giving up on a mortgage refinance.

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US Housing Crash Continues – Part 1

by R. MAK.June 13, 2009 Real Estate

The prices are still dangerously high as compared to the incomes and rents due to this reason house prices will keep falling in most places. It is suggested by banks that a safe mortgage is a maximum of 3 times the buyer’s yearly income.It’s still much cheaper to rent a house than to own it.

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Common Myths About Mortgage Rates Movement

by R. MAK.March 26, 2009 Banks

There are certain misconceptions in the minds of people related to factors that determines mortgage rates.First is that Federal Funds Rate set by the Federal Reserve is related to mortgage rates and the other one is that mortgage rates are based on the US 10 year Treasury bond but that is not true.

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Good News: Mortgage Rates Hit 5%, It’s Time to Refinance Your Home Equity Loan.

by R. MAK.January 9, 2009 Interest Rates

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% .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.

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