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Maine Mortgage Rates
|Unlock Bank||2.25||5 Year ARM||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||3.75||30 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||3||15 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||Conforming||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||4||30 Year Fixed||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.375||5 Year ARM||Jumbo||0.7 to 1||Show Phone Number||Learn More|
|Unlock Bank||2.5||5 Year ARM||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||3.25||30 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
|Unlock Bank||2.75||15 Year Fixed||FHA||0.7 to 3||Show Phone Number||Learn More|
Mortgage Applications Fall, Refinances Down Across the Nation; FHA Streamlines Still Available in Maine
By: Michael Foster | October 24th, 2012
Mortgage applications have fallen nationwide despite stable mortgage rates, according to a new report by the Mortgage Bankers Association. The MBA’s weekly mortgage applications survey saw a fall of total mortgage applications by 4.2% over the previous week, the group reported last week.
At the same time, the Purchase Index–a measurement of how many people are buying new homes–increased by 1% to reach its highest level since June 2012. Refinances fell slightly, with mortgage and home loan refinances falling by 1% from the previous week. Still, mortgage refinances accounted for 82% of total mortgage activity, in a sign that many Americans are still seeking to take advantage of record-low mortgage rates.
In Maine, mortgage rates have remained stable amongst several lenders as U.S. government bond rates stay low, keeping the cost of borrowing money low for everyone. The Federal Reserve, which is meeting on Tuesday and Wednesday, will consider a change to monetary policy that may impact mortgage rates, but most experts do not expect a major change in Fed policy. The Federal Reserve has previously promised to keep bond rates low throughout 2014.
This means that mortgages remain cheap and may remain cheap for quite some time. This includes FHA streamline mortgage refinances, which offer homeowners a chance to refinance their loans no matter how underwater they may be on their home. Since streamline loans do not require an appraisal and cost just 0.01% in upfront mortgage premiums, they have become popular with homeowners who are looking to lower their monthly mortgage payments. Since mortgage rates have more than halved in the past 5 years, it is possible for homeowners to lower their monthly payments by hundreds of dollars. Maine homeowners who have FHA loans, many of whom saw their home values decline after the sub prime mortgage crisis, are eligible for a refinance through the streamline program.
FreeRateUpdate.com surveys more than two dozen wholesale and direct lenders’ rate sheets to determine the most accurate mortgage rates available to well qualified consumers at about a 1 point origination fee.
Latest HARP Mortgage News March 9th, 2014
HARP 2.0 Refinancing Available for Second Homes in Maine
By: Michael Foster | October 23rd, 2012
Homeowners who have a Fannie Mae or Freddie Mac guaranteed mortgage are eligible to refinance with the HARP 2.0 program, no matter how much they owe on their house or how much their home is worth. The government program was … Continue reading
Maine Mortgage Rates: Maine Mortgage Interest Rates Low and Steady
By: Vanessa Rodriguez | March 1st, 2011
In recent news, home construction throughout the state of Maine has decreased, which added pressure on mortgage backed securities prices causing them to dip slightly. However, positive employment data predicting the addition of thousands of jobs throughout the state of Maine has helped to encourage homeownership and to decrease the rate of some types of mortgage interest rates in Maine. Overall, Maine mortgage interest rates have remained low this week. Continue reading