Long-term mortgage interest rates made little movement in the latest week, according to data from mortgage giant Freddie Mac, even though foreign markets continued to scare investors, a condition that typically pushes rate down.
The average rate on a 30-year fixed-rate mortgage slipped to 3.85 percent, excluding fees, during the week ended October 1, 2015, down from 3.86 percent the previous week. Compared with the year earlier, rates were down from 4.19 percent.
Fifteen-year fixed-rate mortgages Read more [...]
Long-term mortgage interest rates soared to new 2015 all-time highs in the latest week, according to mortgage guarantor Freddie Mac , as investors took on more risk in the wake of positive employment data.
The average rate on a 30-year fixed rate mortgage (FRM) jumped to 4.04 percent, excluding fees, during the week ended June 11, 2015, up from 3.87 percent the week before. This is the first time the 30-year rate has averaged over 4 percent in over eight months, since the week of November 13, Read more [...]
A weak jobs report for March sent long-term mortgage interest rates sliding down during the latest week, according to mortgage giant Freddie Mac, with the 30-year fixed-rate mortgage (FRM) hitting a two-month low.
The average rate on a 30-year conventional FRM fell to 3.66 percent with an average point of 0.6, during the week ended April 9, 2015, down from 3.70 percent the week before. Compared with a year ago, the rate is also down from 4.34 percent. The current rate is the lowest it has been Read more [...]
Long-term mortgage interest rates careened downhill again in the latest week, according to mortgage giant Freddie Mac, the result of a handful of anemic domestic financial reports.
The average rate on a 30-year fixed rate conventional mortgage fell to 3.59 percent, excluding fees, during the week ended February 5, 2015, down from 3.66 percent the previous week. The new rate is down from 4.32 percent one year.
Average rates have now tied the 20-month low of 3.59 percent during the week of May Read more [...]
As markets reacted to the dismal minutes from the last Federal Reserve meeting released Wednesday, rates on long-term mortgage interest rates fell back down near their yearly lows, according to data from Freddie Mac.
The average rate on a 30-year conventional fixed rate mortgage sank to 4.12 percent, excluding fees, during the week ended October 9, 2014, down from 4.19 percent the previous week. Rates are lower than they were last year at the same time when they averaged 4.23 percent.
Other Read more [...]
After a dramatic drop last week, long-term mortgage interest rates have made an equally dramatic jump back up in the latest week, according to mortgage giant Freddie Mac, as markets responded to encouraging news in the jobs sector.
The average rate on a 30-year fixed rate conventional mortgage sprang up to 4.37 percent during the week ended March 13, excluding fees, from 4.28 percent the week before, after falling from 4.37 percent the week before that. Last year at this time, the average rate Read more [...]
Homeowners continue to flee to the safety of fixed rate mortgages, according to recent data from housing finance company Freddie Mac. And with interest rates remaining low, borrowers are also getting into shorter-term fixed rate loans.
The Freddie Mac survey showed that 95 percent of refinance loans in the second quarter of 2011 were fixed rate mortgages, a major shift from the housing boom days, when adjustable rate mortgages (ARMs) were extremely popular. A full 55 percent of those with hybrid Read more [...]
According to an article in the New York Times, Adjustable Rate Mortgages (ARMs) are on the rise. ARMs played a big part in the housing market collapse and many are questioning their return to the market.
These particular mortgages start out with what some might refer to as a "teaser" interest rate, then later on adjust up. During the housing market boom, as many as 70 percent of homes were mortgaged with an ARM, some adjusting upwards just a few months after closing. The main problem with these Read more [...]
Even though interest rates still remain low, rates are expected to begin to rise as we progress through 2010. Many experts are speculating that rates will begin to go up as soon as the Federal Reserve ends its mortgage-backed securities purchase program sometime this year. For homeowners who are enjoying low ARM rates, those days could soon be coming to an end.
ARM mortgages are mortgages that start with a very attractive lower fixed interest rate, generally for 1, 3 or 5 years. The negative Read more [...]
Home buyers again saw mortgage rates rise this week alongside word that the economy is beginning to improve. According to the Wall Street Journal, rates for a 30-year home loan rose above 5 percent for the first time since September, rising to 5.03 percent. Rates for 15-year fixed rate and five and one-year adjustable rate loans also saw a rise in numbers. 15-year fixed rate mortgages climbed from 4.43 percent to 4.46 percent, while five-year adjustable rate loans rose from 4.42 percent to 4.40 percent. Read more [...]