Mortgage Rates Are At An All Time Low
In the U.S., the 30-year fixed average monthly mortgage rates have gone down to an all-time low of 3.94% from 3.99% against the previous week and against last year from 4.83%. The same goes for the 15-year mortgage rate from 3.21% to 3.27% against the previous week and 4.17% from last year. Regardless of the [...]
Predictions Wrong – Rates Continue to be at All Times Lows
If there has been one thing proven during the last several years is that no one can really predict what will happen in the world of finance. Ratings companies missed it as did regulators and all those that say from one day to another the today’s the day or next week it will be better. [...]
The Good & the Bad about the Fed’s Latest Rate Move
Anytime interest rates move up most people view this is a signal of the economy getting worse. However, when rates are this low, it’s really a signal the economy is getting better and can withstand higher interest rates. To better understand it, you have to think from an investor perspective. Making 4 to 5 % [...]
What to Expect in 2009
Though no one has a crystal ball, there is a lot of discussion about the real estate and mortgage industry right now. I have heard things that seem to be rather outrageous, like interest rate going to 2 and 3% and things that seem more reasonable, like interest rates going to 4 to 4.5% for [...]
Will Rates Continue to Go Down?
The holiday season is always a fun time. You get to go to everybody’s parties and see old friends and catch up with people you haven’t been around in a while. It’s no difference in the mortgage and real estate industry and this last week has been fun. One of the biggest topics of discussion [...]
Why Rates Came Down
A few weeks ago Fannie Mae released its first earnings report since the federal takeover. To say the least, it wasn’t good. The media used words like dismal and gruesome. The reason was Fannie Mae had the largest loss of any U.S. based company this year and yes; this was AFTER the federal takeover. So [...]
Rates Are Up
For all of those waiting for the rates to come down even lower in order to purchaser a home, you may have waited too long. Rates went up from .500 to 1 point last week and they are holding today. People still think mortgage rates go up and down with prime. I have blogged and [...]