interest rate

Mortgage Rate Update 3/6/09

March 7, 2009

Mortgage rates repriced lower on Tuesday. Meanwhile, treasuries continue to trend higher as the bond market begins to get nervous about mounting Federal deficits. The disparity between MBS and treasuries is creating volatility and uncertainty in mortgage rates. Mortgage rates are expected to encounter even more volatility going forward as markets continue to react to [...]

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Mortgage Rate Update 2/27/09

February 28, 2009

Mortgage rates have taken a turn for the worse this week, but not by much. Bond selling and a small rally in equities are the main culprits. Banks are looking for any reason to re-price higher, plus there is still considerable credit constriction in the market. It is hoped that implementation of President Obama’s mortgage [...]

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Mortgage Rate Update 2/20/09

February 20, 2009

Mortgage rates took a step towards the sub 5% range this week, reacting positively to President Obama’s mortgage rescue plan. More unease in equities and lots of government assistance coming into the mortgage market will help borrowers, lenders and servicers increase mortgage finance activities, and may sustain the downward trend of the current rates. A [...]

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Mortgage Rate Update 2/13/09

February 15, 2009

Mortgage rates have remained flat in the low 5% range. Mortgage bonds have experienced positive pressure coming out of equities negative response to a lack of details and mechanics of the implementation of the remaining TARP funds. However, lenders are still overwhelmed with existing inquiries to refinance–resulting in few lenders to re-price their rates on [...]

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Mortgage Rate Update 2/6/09

February 7, 2009

Despite discussion of 4 percent mortgage rates ringing in the halls of the Senate, mortgage rates continue to rise. The MortgageLoan.com mortgage rate survey indicates the average 30-year fixed-rate mortgage rose to 5.39 percent today. This reflects a consistent, multi-week climb from a low of 5.10 percent in late January. The US government and Federal [...]

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Mortgage Rate Update 1/23/09

January 24, 2009

This week’s rates rose slightly (an eighth of a point, generally; CHFA was unchanged) and this is the fourth day in a row that the rates have been trending upwards. Mortgage rates should return to lower levels, based on Federal Reserve and other government statements. Renewed bank crisis and continued equities market volatility are again [...]

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Mortgage Rate Update 1/9/09

January 9, 2009

This week’s rates dipped below 5% for the first time, getting as low as 4.8% for a 30 year conforming fixed loan before settling back right at the 5% mark. Almost all other rates also fell by at least 1/8th point, except the 30 year FHA. The 30 year CHFA rate fell by an eighth [...]

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Mortgage Rate Update 1/2/09

January 2, 2009

We’re back from the holiday break with another mortgage rate update; we hope everyone’s holidays were safe and full of good food, family, friends and the spirit of the season. All rates this week were virtually unchanged from the last update in December. The outlook for which way the rates will be headed over the [...]

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Mortgage Rate Update 12/19/08

December 20, 2008

Mortgage rates either fell slightly or remained at last week’s levels. The 30 year fixed stayed at 5.125%, but the 30 year FHA and CHFA rates lost an eighth and a quarter point, respectively. Also, the 7 year ARM lost an eighth, the first drop in an adjustable rate mortgage in some time. This is [...]

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Mortgage Rate Update 10/31/08

November 1, 2008

As a result of the recent stock market rally, mortgage rates are up approximately 0.8 percent. The 30 year fixed rate mortgage now hovers around 6.5 percent, and the CHFA rate went up a quarter point. Short indicators point to continued upward pressure on mortgage rates. Here are this week’s rates: Friday, October 31st, 2008 [...]

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