Low rates keeping homes affordable
INLAND REGION: The market is still shaky, but mortgage applications and refinancings are on the rise.
Falling interest rates are fueling a rise in home mortgage applications and refinancings in the Inland region, though experts aren't yet ready to declare the beleaguered local housing market on the road to full recovery.
Virginia-based Freddie Mac, a government-backed corporation that provides mortgage capital to lenders, released a study Thursday showing 30-year fixed-rate mortgages averaging 5.08 percent, down from 5.14 percent a week ago and 6.35 percent a year ago.
For full story, go to http://www.pe.com/business/local/stories/PE_Biz_S_mortgages04.38b40b4.html
Showing posts with label banks. interest rates. Show all posts
Showing posts with label banks. interest rates. Show all posts
Tuesday, September 8, 2009
Tuesday, July 21, 2009
Rates are going DOWN..DOWN...
Bad news equals low rates, and good news for struggling homeowners.
Mortgage rates slipped lower for the second week in a row thanks to concerns about the direction of the economy after the release of the June jobs report, according to mortgage financier Freddie Mac.
The classic 30-year fixed-rate mortgage averaged 5.20 percent during the week ending July 9, down from 5.32 percent a week ago and 6.37 percent a year earlier.
It’s still a bit higher than its record low of 4.78 percent set back in April when the refinance boom was in full swing, but not by much.
The 15-year fixed rung in at 4.69 percent, down from 4.77 percent a week earlier and 5.91 percent a year ago.
The five-year ARM averaged 4.82 percent, down from 4.88 percent a week ago and 5.82 percent this time last year.
The one-year ARM dipped to 4.82 percent from 4.94 percent, and remains below its year-ago average of 5.17 percent.
The rates above are good for conforming loan amounts with at least a 20 percent down payment.
Rates on jumbo loans continue to price higher, around 6.50 percent for a 30-year fixed.
The lower rates are encouraging, and may signal a return to a lending bonanza, though it’s too early to tell if rates will continue to fall.
"see.....this is where we're at and when the banks release that second wave of foreclosures..wow...BUY BUY BUY!!!!"
Mortgage rates slipped lower for the second week in a row thanks to concerns about the direction of the economy after the release of the June jobs report, according to mortgage financier Freddie Mac.
The classic 30-year fixed-rate mortgage averaged 5.20 percent during the week ending July 9, down from 5.32 percent a week ago and 6.37 percent a year earlier.
It’s still a bit higher than its record low of 4.78 percent set back in April when the refinance boom was in full swing, but not by much.
The 15-year fixed rung in at 4.69 percent, down from 4.77 percent a week earlier and 5.91 percent a year ago.
The five-year ARM averaged 4.82 percent, down from 4.88 percent a week ago and 5.82 percent this time last year.
The one-year ARM dipped to 4.82 percent from 4.94 percent, and remains below its year-ago average of 5.17 percent.
The rates above are good for conforming loan amounts with at least a 20 percent down payment.
Rates on jumbo loans continue to price higher, around 6.50 percent for a 30-year fixed.
The lower rates are encouraging, and may signal a return to a lending bonanza, though it’s too early to tell if rates will continue to fall.
"see.....this is where we're at and when the banks release that second wave of foreclosures..wow...BUY BUY BUY!!!!"
Thursday, June 25, 2009
Good bye 4% loans
Ok we said it was coming...and now the banks are closing in on your pocketbook or wallet, doesn't matter theyr'e coming to take your money because well you can say theyr'e good samaritains?....ok they want to help the community?, no I just remember they got paid (350bil),,,,oh and they paid it all back...nah...They want to keep the powder dry and go in for the kill....am I bitter..no can I say I told you so...no,,,we all knew it was coming...what can we do about it.....really become a better consumer...know what your getting into..dont procrastinate when it is obvisously a good deal and READ...the fine print on all contracts.....be good to your neighbors..smile and say thank you...that doesn't hurt and makes a day go better!
30 Year FRM *
5.42
Jun
15 Year FRM *
4.91
Jun
1 Year ARM *
4.93
Jun
per http://mortgage-x.com/general/mortgage_indexes.asp
30 Year FRM *
5.42
Jun
15 Year FRM *
4.91
Jun
1 Year ARM *
4.93
Jun
per http://mortgage-x.com/general/mortgage_indexes.asp
Subscribe to:
Posts (Atom)
