Loan

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 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 12/12/08

December 12, 2008

Mortgage rates continue to fall as the proposed auto industry bailout crashed and burned, and the Fed is now talking about a possible reduction to 4% instead of the 4.5% figure bandied about last week. Our current 30 year fixed and FHA rates fell another eighth of a point this week, while the 30 year [...]

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Mortgage Rate Update 12/5/08

December 5, 2008

Mortgage rates fell another quarter point this week (with the notable exception of CHFA & FHA rates, which remained at 5.875% and 5.5%, respectively), possible on their way down to the 4.5% figure that’s been bandied about in the financial news lately. This may or not happen, depending on who you talk to, but even [...]

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Mortgage Rate Update, 11/28/08

December 2, 2008

We hope everyone had a fantastic Thanksgiving and was able to spend some quality time with family and friends, and pig out on lots of turkey, stuffing, pie, etc etc!! OK, so much for my statement last week of, “status quo is the way to go – for now”. In one of the largest one [...]

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Mortgage Rate Update 11/14/08

November 15, 2008

Mortgage rates continued their downward slide this week as a result of dismal economic reports, particularly the half million jobs lost and an increase in the national deficit in October. There was a drop of an eighth of a point in almost all products, including the 30 year FHA and conforming loans. Jumbo loans and [...]

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Mortgage Rate Update 11/7/08

November 8, 2008

Mortgage rates pulled back a bit this week in the aftermath of the presidential election, but the increase in the unemployment rate and tighter lending criteria are keeping many lenders on the sidelines. The 30 year conforming rate dropped a quarter point, while the 30 year FHA and CHFA shed a nice 3/8ths. Expect more [...]

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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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Mortgage Rate Update 10/24/08

October 24, 2008

Mortgage rates fell a bit across the board this week on reduced concerns about inflation; the 30 year conforming loan fell a quarter point, while the 30 year FHA rate fell an eighth. CHFA rates fell the most, taking 3/8ths off last week’s rate, ending at 5.875%. While inflation concerns are easing, fears of a [...]

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Mortgage Rate Update 10/3/08

October 3, 2008

Thirty-year fixed rate holding steady (so far), but CHFA rates up half a point. How far will they go? In theory, if the “Rescue” plan works and helps repair the credit markets, rates should go down, but no one knows how long it will take for this to happen. For more info on the plan’s [...]

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