mortgage rates

What To Expect From The Fed Today And How It May Impact Mortgage Rates

January 28, 2009

The Federal Open Market Committee adjourns from its 2-day meeting today.

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Did We Just See The First 2 Signs Of A Housing Recovery?

January 27, 2009

Don’t let the plunging median sales price fool you — December’s Existing Home Sales data has home sellers smiling. Just one month after falling below the 5-million unit trend line, sales volume roared back by 300,000 homes in December, surprising housing analysts and making a case that this spring’s Buying Season could be a competitive one. Falling home prices helped fuel home sales

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China’s Anger over Treasury Secretary to Be Tim Geithner’s Comments could Impact Mortgage Rates

January 26, 2009

Mortgage markets deteriorated last week on the heels of weak economic data and uninspiring corporate earnings. Mortgage rates rose for the second week in a row

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Move-Up Homebuyers Face New Lending Challenges This Spring

January 23, 2009

When a homeowner sells his home and decides to buy a new one, there are 3 basic options for the residence — sell it, keep it, or rent it. Unfortunately, no matter which path they choose, move-up homebuyers in need of a new conforming mortgage will find qualifying for a home loan to be more difficult this season than in the past

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Could Mortgage Rates Have Already Bottomed Out?

January 22, 2009

After improving through 11 straight weeks, mortgage rates finally ticked higher last week.

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An Interactive Chart For Home Values

January 21, 2009

The S&P/Case-Shiller Home Price Index is a popular measure of domestic home prices, released monthly. The index reports on the largest 20 U.S.

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Mortgage Markets In Review : January 20, 2008

January 20, 2009

After a strong start Monday and Tuesday, mortgage markets suffered alongside stock markets in the latter half of last week, leaving mortgage rates higher on the week overall. Market losses were especially steep Friday and mortgage rates headed into the long weekend on a strong uptick. Regardless, the reasons that mortgage rates rose last week are ancient history, in most respects.

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Mortgage Rates Are Falling But Loans Require More "Points"

January 16, 2009

Another week, another screaming headline about mortgage rates falling to an all-time low. Freddie Mac published its weekly mortgage rate survey Thursday and found that the “average” mortgage rate is now 4.96 percent , the lowest since the survey started in 1971.

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How The Right Amount Of Economic Weakness Can Help A Home Buyer

January 15, 2009

After a weak holiday shopping season, annual retail sales declined in 2008. It marks the first annual Retail Sales decline since the government started tracking the data 40 years ago

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When Is A 5.000 Percent Mortgage Rate Really 3.600 Percent?

January 14, 2009

An oft-touted benefit of homeownership is its tax benefits. However, like most IRS-related items, understanding how the benefits work is not always clear

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Half The Story : The National Housing Inventory Fell In December

January 13, 2009

Home prices are largely based on Supply and Demand. If demand outweighs supply, home prices rise If supply outweighs demand, home prices fall It’s good news for home sellers, therefore, that “used” homes for sale fell 6 percent nationally last month . Less supply often means higher prices.

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Mortgage Markets In Review : January 12, 2008

January 12, 2009

In 2009’s first full week of trading, mortgage bond markets traded back-and-forth, eventually closing the week improved overall. Weekly mortgage rates fell for the first time since mid-December. The most anticipated news of last week was Friday’s jobs report.

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It’s Semi-Official : New Conforming Mortgage Fees Go Into Effect Monday

January 9, 2009

Even though its effective date is April 1, 2009, mortgage applicants should start seeing Fannie Mae’s new fee structure from lenders beginning this Monday, January 12. The reason why Fannie Mae’s mandatory loan fees are hitting lender pricing so far in advance is because lenders can take up to 30 days to package and sell a loan to Fannie Mae post-closing. In effect, this moves the April 1 start date to March 1

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New Fannie Mae Loan Fees Target Condo Buyers, Among Others

January 8, 2009

When conforming mortgages started defaulting en masse in late-2007, mortgage guarantor Fannie Mae created a loss-offsetting, fee-generating scheme dubbed “loan-level pricing adjustments”. The concept was basic: For mortgage applicants with high-risk profiles, collect up-front payments to offset potential long-term losses

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Sure, Mortgage Rates Are Lower, But Mandatory Fees Are Not

January 7, 2009

With respect to mortgage rates, you can’t always believe what you read in the papers. Or what you see. A terrific example is the chart at right

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Top 4 Predictions for Real Estate Market in 2009

January 6, 2009

The New Year is not yet one week old but that’s not stopping market “experts” from predicting what’s in store for 2009. The calls on housing and mortgage rates run the gamut: Home prices have farther to fall Home prices have touched bottom Mortgage rates will dip Mortgage rates will rise Put it all together and it’s clear that the experts have no better idea about the future than you or I. Their guesses are educated ones, but they’re guesses nonetheless

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Mortgage Markets In Review : January 5, 2009

January 5, 2009

Like the rest of the country, mortgage markets were on semi-vacation last week.

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It’s 2009 : Mortgage Loan Limits Fall As Scheduled In "High-Cost" American Cities

January 2, 2009

As part of the Economic Stimulus Act of 2008 , Congress authorized a conforming loan limit increase in “high-cost” areas around the country. Versus the national conforming loan limit of $417,000, for example, a Manhattan home buyer could secure a 2008 mortgage for $725,000 and still be within “conforming” guidelines. Effective January 1, however, those limits rolled back.

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The Fed’s Parting Present For 2008 : Low Mortgage Rates

December 31, 2008

For its last move in an action-filled year , the Federal Reserve announced it will begin buying its pledged $500 billion in mortgage-backed securities next month . For home buyers and mortgage rate shoppers, the timing couldn’t be better.

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How To Shop For Mortgages In A "Vacation Week"

December 30, 2008

Mortgage markets are like any other market — in order for goods to change hands, a buyer and a seller must first reach an agreement to “trade” at a specific price point. In general, the more buyers and sellers there are for a particular item, the easier it is to find that “fair value” and make the deal. An abundant number of buyers and sellers often creates a liquid market in which assets — in this case, mortgage bonds — can be sold rapidly with minimal loss

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