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Mar. 1, 2010 — (FreeRateUpdate.com) – FHA mortgage rates today are better than last week. Following several improvements in mortgage-backed securities prices, which led to several favorable re-prices by investors, FHA mortgage rates dipped by an 1/8 late last week. The FHA 30 year fixed rate dipped to 4.75 from 4.875. The FHA 5/1 ARM dipped to 3.625 from 3.75. 15 year fixed FHA rates didn’t change and remain at 4.5. Looking for the lowest FHA mortgage rates? Search local FHA mortgage… Read more
SHEEPSHEAD BAY BROOKLYN, NY — Feb. 22, 2010 (FreeRateUpdate.com) – Last Thursday, in a surprise move, the Fed raised the discount point 0.25. Of course, markets overreacted. Anything involving an interest rate hike causes a bit of a scare. Reality is, the discount rate, which applies to emergency overnight lending to banks, has no effect on borrowing rates for consumers. The hike in the discount rate, does re-affirm what we already know. That the Fed is likely to begin raising the Fed Funds… Read more
SHEEPSHEAD BAY BROOKLYN, NY — Feb. 19 (FreeRateUpdate.com) – FreeRateUpdate.com research of wholesale lenders’ rate sheets shows 30 year fixed mortgage rates associated with .07 to 1 point in origination (at par) rose to 4.875 percent, from 4.75 yesterday. This rate increase applies to conforming 30 year fixed (standard 30 year fixed) products as well as FHA 30 year fixed loans. The jumbo 30 year fixed rate, associated with .07 to 1 point origination (at par) remains 5.75. It should be… Read more
SHEEPSHEAD BAY BROOKLYN, NY — Feb. 18 (FreeRateUpdate.com) – Lock your rates! After the Fed Minutes report came on yesterday we saw some big time deterioration in the mortgage rate market. MBS prices sank fast and hard pushing 30 year fixed mortgage rates for conforming and FHA loans to the brink. Today while 30 year fixed mortgage rates remain 4.75, any minute that can change. With a slew of economic data out today anything could happen. It’s possible by Saturday we could see mortgage rates… Read more
SHEEPSHEAD BAY, NY — Feb. 16 (FreeRateUpdate.com) – Mortgage rates haven’t been doing a whole lot lately. Despite volatile stock markets, and volatile mortgage-backed securities markets, mortgage rates have been cemented at current levels for weeks. The stock market has done a bit of the same. The Dow, up over 86 points today at 8:13 AM PST, has been up and down and overall relatively unchanged since a decline to around 10,000. The much awaited end of the Fed’s MBS purchase program on March… Read more
SHEEPSHEAD BAY, NY — Feb. 12 (FreeRateUpdate.com – Usually I deliver these updates after midnight. Today let’s call it, “coffee after noon”. Doesn’t have much of a ring to it does it? Mortgage rates are cemented at 4.75%, the same as they were on Monday morning, with no chance of going up today following gains in MBS prices this morning. Mortgage-backed securities, which dictate mortgage rates moving them in the opposite direction, are up + 8/32 as of noon eastern time. The Dow Jones… Read more
SHEEPSHEAD BAY, NY — Feb. 11 (FreeRateUpdate.com) – Yesterday on FreeRateUpdate.com we covered the Fed “text”, their broad outline for raising short term interest rates, stopping their purchases of Treasuries and MBS, and tightening credit. Ben Bernanke was unable to answer questions due to a massive snowstorm, meanwhile I was outside fixing a ruptured pipe under our foundation slab in some snowy rain stuff, fightin’ the wind at the same time, but that’s another story. Warm and cozy Bernanke… Read more
Feb. 10 (FreeRateUpdate.com) – Yesterday was another wild one. The Dow shot up over 200 points before finishing up about 150. Current mortgage rates are up on a rallying stock market but not up enough for lenders to adjust their rate sheets for the worse. What do I mean by that and why would mortgage rates be up because the stock market is up? Pricing affecting closing costs is worse but current mortgage rates are still the same. 4.75% for a 30 year fixed will cost you more than it did… Read more
Feb. 9 (FreeRateUpdate.com) – Today we’re going to stack Wells Fargo mortgage rates against both national averages and par rates. Why? Well for consumers out there who may be inclined to go to their local bank, which very well might be Wells Fargo, this is a good bit of information. For those who aren’t considering Wells Fargo, there are certain programs you may want do just that. Let’s start by noting the difference between par rates and national averages. Par rates, as researched and… Read more
Feb. 9 (FreeRateUpdate.com) WASHINGTON D.C. - The Fed is preparing to layout an exit strategy to the public. Investors have been acting on speculation only lately, with no concrete plan in place, as to what the Fed plans to do as far as raising interest rates and tightening credit. Not only that, but their exit from the MBS market is important as well, especially to the housing industry which is efffected by mortgage rates. Though they’ll begin preparing to lay out their plan, don’t… Read more
On April, 05 2010, MI will be boosted to 2.25 and minimum credit scores will be raised. Read about this and other NEW FHA Loan Guidelines.
Delaware Mortgage - DE Mortgage Blog - John Thomas talks Delaware mortgages.
Minnesota Mortgage - MN Mortgage Blog - Josh Manier talks Minnesota mortgage.
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