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(FreeRateUpdate.com) – Rates for our lovable POV* Loan came out and 3 of my major Wholesale Lenders repriced for the better today. Which just reinforces the rest of this nugget o’ info. If you are shopping a loan JUMP on it now! Conforming Rates at 4.75% with JUMBO Conforming at 4.875%. True JUMBOS at 5.75%. As always jokes, recipes and oh yeah, loan scenarios are welcome at lololoans@yahoo.com Ok so which way is UP?I figure pretty gush darn soon there Cowboys and… Read more
Mar. 3, 2010 (FreeRateUpdate.com) – Current conforming and FHA 30 year fixed mortgage rates are unchanged, remaining at 4.75 where they’ve been all week. The Fed’s Beige Book revealed a ‘modest’ improvement in the economy in 9 of 12 regions. The data’s effect on mortgage rates was limited. Mortgage-backed securities prices, which drive mortgage rates in the opposite direction, are up +5/32 (FNMA 30-yr 4.5 at 101.08). As a result of the gain in MBS prices it’s possible lenders’ will re-price… Read more
LOS ANGELES, CA — Feb. 24, 2010 – ( http://www.freerateupdate.com) – Could 30 year mortgage interest rates (Freddie Mac FRE, Fannie Mae FNM, and FHA 30 year fixed rates) rise to 6.5, from below 5, in just a matter of weeks once the Fed discontinues their buying of MBS? Many experts say the answer is yes. While prominently it’s expected mortgage interest rates rise about half a point, the effect of the Fed’s withdrawal from the buying of mortgage-backed securities is unknown. Looking for… Read more
LOS ANGELES, CA — Feb. 19 (FreeRateUpdate.com) – According to our research of wholesale lenders’ mortgage interest rate sheets 30 year fixed mortgage interest rates, for conforming and FHA mortgages, rose 1/8 from 4.75% to 4.875% yesterday. 4.875% is now the interest rate associated with about 1 point origination (par rate). 30 year fixed mortgage interest rates had been holding at 4.75 for quite some time. A significant decline in mortgage-backed securities following the Fed Minutes on… Read more
LOS ANGELES, CA – Feb. 11 (FreeRateUpdate.com) – Today’s mortgage interest rates are still under 5% but face risk. Mortgage-backed securities, which drive mortgage interest rates in the opposite direction, are up +1/32 (FNMA 30-yr 4.5 at 100.21) today after being down in the early morning. The treasury auction today didn’t do much to move FHA mortgage rates. Yesterday’s Fed statement regarding their exit strategy and raising of short term interest rates later this year did little to effect… Read more
Feb. 9 (FreeRateUpdate.com) – Current mortgage interest rates are the same but pricing effecting closing costs has worsened on a soaring stock market. The stock market finished up over 150 points on the day. Bond demand was down, as it usually is when stocks are soaring. Mortgage interest rates which move opposite bonds, mortgage bonds in particular, saw pressure to move up but held their ground. Mortgage-backed securities were down on the day -8/32 (FNMA 30-yr 4.5 at 101.03). Many lenders… 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
Feb 1. (FreeRateUpdate.com ) – Mortgage interest rates enter the week 1/4% off all time record lows. 30 year fixed mortgage interest rates finished last week down, at 4.75%. Prices of mortgage backed securities, which drive mortgage interest rates in the opposite direction, have been volatile the past few days. Just Friday morning it looked like a sure thing that interest rates would reach 5% for the first time in weeks, then rates reversed course as the stock market plunged at the same time…. Read more
Mortgage interest rates were up in the early morning leading us to believe risk was high for the 30 year fixed rate to rise an 1/8 to 5%. Early in the morning GDP data sent the stock market sky rocketing and MBS prices tumbling leading to the higher risk for mortgage rates to go up. Then we saw a complete 180. Mortgage backed securities prices, which drive mortgage rates in the opposite direction, went from down a bit to up a bit leading mortgage lenders to actually re-price for the better, not… Read more
Last week brought big improvements in mortgage interest rates despite a plethora of bad news. The final piece of unsettling news came Friday afternoon when Barney Frank said his team which oversees Fannie and Freddie would recommend the end of times for the two age old mortgage companies. Mortgage-backed securities continued their rise last week sending mortgage rates which move the opposite down. The benchmark 10 year treasury yield, used to forecast mortgage interest rates dropped… 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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