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After peaking at nearly 5.6% on June 11, the average 30 year fixed mortgage rate as tracked by Freddie Mac dropped to 5.2% in the succeeding 4 weeks. This 7% drop in rates roughly coincided with weakness in US stock values and world oil prices over the same general time period. Mortgage interest rates appear [...]
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Interest rates generally fall when the economy falters and rise when economic expectations turn bullish. With retail sales rising, the Fed announcing that the worst of recession may be past, and U.S. consumer confidence reaching a nine-month high in June, is it any wonder that mortgage interest rates rose over the last 2 weeks? And [...]
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4.84% is the current national average for 30 year fixed rate mortgages according to the Federal Home Loan Mortgage Corporation (Freddie Mac) in a report released May 7, 2009. This was essentially the same rate as quoted by Freddie Mac for 30 year mortgages at the start of April 2009 (4.78%). You may be hearing [...]
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The average rate for 30-year fixed-rate mortgages dropped below 5% early in April 2009. The average rate now is 17% lower than it was one year ago. This makes now a perfect time to refinance your current mortgage (or buy a new home). The average 30 year fixed rate was at 4.87% rate on April [...]
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The Federal Reserve is taking remarkable steps to drive mortgage rates lower. This push to reduce rates demonstrates that the US government is fully committed to re-inflating the national housing market. Mortgage interest rates are already at levels not seen since their historic lows of 2003. As reported by the Federal Home Loan Mortgage Corporation, [...]
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The Internet is a great source of information and makes it easy to compare products, services and prices. But you can encounter a hidden risk when you evaluate competing mortgage loans on-line: a lot of the mortgage websites you visit really are secret “stealth” sites that exist solely to generate mortgage leads. Mortgage “stealth sites” abound [...]
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You don’t need 20% down to buy a home, even with today’s tight credit standards. FHA loans (administered by the US Department of Housing and Urban Development) are a very popular choice for home buyers because they require only 5% or even 3.5% down! Here are some of the advantages of FHA loans: Low Rates [...]
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Warren Reynolds, Esq, GRI, e-PRO
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Franklin, MA 02038
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