5 Housing and Mortgage Trends To Get Ready For This Spring
Reposted from businessinsider.com | Polyana da Costa, Bankrate.com Homeowners who endured years of declining home values will discover that the game has changed in their favor. With low mortgage rates and home prices gaining momentum, an increasing number of buyers are expected to shop for homes this spring. The good news for sellers: The inventory of homes for sale [...]
WEDNESDAY UPDATE: 03/20th
Today’s FOMC adjournment and economic projections yielded little surprises. The meeting adjourned with no change to key short-term interest rates and the Fed outlook on the economy is slightly weaker than previously estimated. Their prediction for Gross Domestic Product (GPD) growth is now between 2.3% and 2.8% while they believe that the U.S. unemployment rate [...]
Mortgage Rates Improve after yesterdays January 2013 FOMC Statement
Reposted from http://themortgagereports.com by Dan Green This week’s FOMC meeting has adjourned with no change to key short-term interest rates or the Fed’s bond buying program. The lack of a change to interest rates was widely expected, but there was a lot of debate about the Fed maintaining their current stimulus programs. The news of [...]
To Givers of Down Payments
Reposted from the New York Times By LISA PREVOST HOME buyers trying to scrape together enough money to cover the typical 20 percent down payment frequently look to relatives for help. In a National Association of Realtors survey of people who bought homes from July 2011 to June 2012, about a quarter of first-time buyers [...]
Mortgage Rates Respond To December 2012 FOMC Statement
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage rates are worsening after the Federal Reserve’s December 2012 FOMC meeting. For the third straight meeting, the nation’s central banker described the U.S. economy as improving; expanding “at a moderate pace”. The group also re-affirmed its plan to buy mortgage-backed bonds as a means to suppress mortgage rates [...]
Mortgage Rates Remain Near All-Time Lows At 3.40%
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage rates continue to hang near all-time lows. The 30-year fixed rate mortgage now averages 3.40% nationwide for conforming home loans via Freddie Mac, and the 15-year fixed rate mortgage averages 2.69%. The rates are available for borrowers wanting to pay 0.7 discount points at closing. This week [...]
What Will Happen with Massachusetts Mortgage Rates this Week? 10/29th
Inquire within for current Mortgage Rates or Guidelines bc@SmarterBorrowing.com 617.771.5021 Overall, the single most important day is likely to be Thursday or Friday. In addition to the economic reports, I believe stocks will experience volatility that will also impact bond trading. The key to the week will be Friday’s employment numbers, but any significant swings [...]
FHA Mortgage Rates Make New Lows
By Dan Green (NMLS #227607) for themortgagereports.com FHA mortgage rates have dropped sharply since the start of the year, making new, all-time lows nearly weekly. Despite falling FHA mortgage rates, though, the annual cost of an FHA mortgage is mostly unchanged, the result of rising FHA mortgage insurance premiums. The “effective interest rate” of an [...]
Mortgage Rates: Improve On Housing, No Quick Fix In Spain
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage-backed securities (MBS) improved Friday, breaking a 4-day losing streak. The FNMA 3.0 coupon climbed -12/32 to close at 104.19. The GNMA 3.0 coupon rose +11/32 to close at 106.01. Mortgage rates of all types improved Friday. Conforming mortgage rates returned to mid-week levels, and FHA and VA [...]
Refinancing Spikes as Mortgage Rates Fall
By ANN CARRNS. Reposted from the New York Times Bucks Blog. Is it time to think about refinancing — or perhaps, re-refinancing? Mortgage refinancing jumped to a three-year high, as interest rates on home loans dropped to new lows, according to a weekly industry survey from the Mortgage Bankers Association. Mortgage applications overall increased 16.6 [...]
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