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rates : Mortgage Loans, Rates, Home Buying, Selling, Foreclosures

All Posts Tagged With: "rates"

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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 | | 0 comments | Continued
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Pawlenty Proposal: Worst American Tax Plan Ever

There’s finally a serious Republican tax proposal on the table, and it’s a plan which deserves consideration. The Nation, of course, now has a massive budget deficit. Not since four straight years of surplus under Bill Clinton has the government broken even much less had a few spare dollars. Under President George W. Bush the [...]

13Jun2011 | | 0 comments | Continued
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Are Low Mortgage Rates Over?

It’s been quite a week on the mortgage front. According to Freddie Mac, as of last week rates for fixed-rate, 30-year mortgages went from 4.91 percent to 5.29 percent, both with 0.7 points. That’s a big jump for a seven-day period, but let’s have some context here: Last year at this time the same loan [...]

9Jun2009 | | 0 comments | Continued
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What Happens To Home Sales If Mortgage Rates Rise?

Interest rates reflect the cost of money nationwide — but real estate values are established locally. If you look at the question in general terms, higher interest rates mean larger monthly payments, high monthly payments mean a smaller pool of buyers, so in theory home prices should remain steady, rise less or even decline. But [...]

16Dec2008 | | 0 comments | Continued
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Mortgage Rates & Inflation: The Looming X Factor

Mortgage interest rates have been at or below 6 percent for months, great news for those who wish to finance or refinance a home. But if you think the mortgage meltdown is a mess today, imagine if interest rates were at 7 percent, 8 percent or 9 percent? Nothing we’ve seen to date in terms [...]

19Sep2008 | | 0 comments | Continued
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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 | | 0 comments | Continued
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Is It Time To Buy Less?

It has been a most-interesting few weeks in one of the nation’s hottest real estate markets, the area just outside my front door. As someone now in the process of selling, I am elated by current market conditions: As long as the check clears I heartily approve of interest-only loans; I believe the availability of [...]

19Sep2008 | | 0 comments | Continued
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What Are The Most-Common Mortgage Loan ARM Indexes?

There are several major indexes in wide use today. They include: •  The 11th District Cost of Funds Index (11th District COFI): This index reflects the interest levels paid for “deposit accounts” by savings institutions in Arizona, California, and Nevada that are members of the Federal Home Loan Bank of San Francisco. Deposit accounts include [...]

31Aug2008 | | 0 comments | Continued
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Where Can I Get Information Concerning The 11th District COFI?

Extensive information, including index levels for the past 20 years, is available from the Federal Home Loan Bank of San Francisco. For the latest 11th District rates, press here. Technorati Tags: 11th, cost, District, funds, history, information, rates

30Aug2008 | | 0 comments | Continued
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What’s A Mortgage “Point?”

A “point” or “loan discount fee” is equal to 1 percent of the loan amount. For example, if you are borrowing $100,000, you would pay $1,000 per point, or $2,000 for 2 points. This money must be paid or credited at closing. In general terms, more points mean a lower interest rate, fewer points can [...]

28Aug2008 | | 0 comments | Continued