All Posts Tagged With: "fixed"
Bulletin: 5-Year ARM Mortgage Hits Record 2.96 Percent
The five-year ARM has hit an all-time record. Having fallen for the eighth consecutive week it now stands at 2.96 percent, according to Freddie Mac. The idea that ARM rates across the country would fall below 3 percent is stunning, proof that the country is awash in capital that essentially has nowhere to go. While [...]
1Sep2011 | Peter G. Miller | 0 comments | Continued
Mortgage Rates Sink, Hit Yearly Low
Mortgage rates are in the dumper. Freddie Mac is reporting that mortgage rates have hit their lowest levels since last November. The 30-year fixed-rate mortgage averaged 4.39 percent, its lowest level for 2011. Last year at this time, the 30-year FRM averaged 4.49 percent. The 15-year fixed and 5-year ARM set new historical record lows [...]
4Aug2011 | Peter G. Miller | 0 comments | Continued
Inflation, Deflation, Mortgages & Wealth
Freddie Mac’s weekly mortgage rate survey shows that the average 30-year fixed-rate mortgage (FRM) was priced at 5.59% with .7 points. This is a huge jump from last week when the rate stood at 5.29 percent and a vast leap when compared with the rate for the week of May 21st: 4.82%. Higher rates are [...]
12Jun2009 | Peter G. Miller | 0 comments | Continued
Mortage Rates Turn Upside Down
Every week Freddie Mac issues a general survey of mortgage rates and last week’s results were a shocker: Rates for fixed-rate loans were lower than the rates for ARMs. If you’re a borrower the conclusion is obvious: Stay away from ARMs. Here’s why: No Cash Refinancing If you have a fixed-rate loan you have a [...]
27Apr2009 | Peter G. Miller | 0 comments | Continued
Wrong-Way Borrowing Threatens Borrowers, Lenders
Freddie mac figures show that as of September 18, 2008 you could get a 30-year fixed-rate mortgage for 5.78 percent plus .6 points. How low is 5.78 percent? In June, 2003 we saw 5.21 percent plus .5 points — the lowest mortgage rate in 45 years. This would all be encouraging except that it’s difficult [...]
19Sep2008 | Peter G. Miller | 0 comments | Continued
What’s A 5/25 ARM?
An ARM is a loan product with payments and interest rates that adjust at certain intervals. A fixed-rate loan has one interest rate and a set monthly payment for the life of the loan. A 5/25 ARM is a loan product with a fixed rate during its first five years, and then an adjustable rate [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
How does an ARM conversion program work?
Many ARMs come with conversion programs. For a fee, say $250 to $500, you can convert to a fixed-rate. The conversion rate won’t be the best in the world, it’s typically about 5/8ths of a point higher than a given index, but it may be better than the fixed rate at the time you applied [...]
31Aug2008 | Peter G. Miller | 0 comments | Continued
Title Insurance Price Comparisons — But Only In California
Let us now praise the great state of California for setting an example which should elate consumers: If you want to buy title insurance in California you can now compare prices online. Instantly. Anonymously. Just go to www.clta.titlewizard.com, a site that has been set up by the California Land Title Association. If my mail is [...]
20Aug2008 | Peter G. Miller | 0 comments | Continued
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