Mortgage Rates on a Friday Afternoon August 8, 2008
Changes to rate are noted with a :) for a rate improvement or :( when rates are higher than what I posted last week. Seems like ever since The Tim from Seattle Bubble gave me up & down arrows, I’ve been busier–thanks The Tim!
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming [...]
Rates on a Rocky Ride July 18, 2008
It’s been tough on mortgage backed securities this week. Today there are no economic indicators being released and compared to last week’s rates, they’re up across the board. The Tim, from Seattle Bubble, made a special request that I show the weekly difference between posts…which I used to do with RCG Rates…which such a dramatic increase [...]
Rates, Rumors and Reaction July 11, 2008
This morning began with rumors of a possible Government take over of Fannie and Freddie which caused the GSEs stocks to further tumble. Later in the day Reuters reported that the Fed was going to open the emergency discount window to the GSE’s (Fannie/Freddie)…following that announcement, Reuters admitted that the source of this information was from a “source of a [...]
Friday Rates are Improved June 27, 2008
This week month continues to be very ugly for the stock market and traders are seeking the safety of bonds. In fact, the DOW is on track for being the worst June since the Great Depression and we have oil closing at a record $140. Mortgage rates continue to be very volatile and odds are, [...]
Mortgage Rates on the First Day of Summer June 20, 2008
While I’m still trying to figure out how to please everyone with pricing rates used in the Friday rate posts (with or without any points), since we have not had major rate changes today and because it’s the first day of summer…I’m going to give you a little treat and price rates both ways today: [...]
Friday’s Rates–Conforming Jumbo Rates are GREAT! May 23, 2008
Rates are pretty close to the same as last week…however I don’t expect this to last considering all of the inflationary data we have. Inflation will have a negative impact on mortgage back securities (bonds) which will drive interest rates higher. A 30 year fixed rate term refinance that I closed today at zero points/zero discount now [...]
Friday Rates May 9, 2008
Good news: conforming-jumbo rates have come down significantly! In fact, the 30 year fixed rate for mortgages priced between $417,001 - $567,500 (for King, Pierce and Snohomish Counties) are the lowest since I’ve started publishing rates at RCG.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based [...]
Make Sure Your Loan is Locked April 29, 2008
I’ve been communicating with a home owner who thought their loan was locked in at a certain rate only to learn that this is not the case. Here’s their story:
Their existing ARM reset in March. In late February, they informed the LO they wanted to lock at 5.5%, no points, 30 year fixed, and close before April 1 [...]
Friday’s Rates April 25, 2008
Mortgage bonds have a negative reaction to inflation and we’re seeing high food and oil prices and rates continue to be very volatile…next week, the drama promises to deliver with the FOMC meeting on Tuesday and the Jobs Report on Friday. I know I sound like a broken record…but here goes: THE FED [...]
Just How Much Your Credit Score Impacts Your Interest Rate April 18, 2008
While I was preparing my morning rate quote (I’ll follow up at RCG this afternoon in case of a rate change), I thought I would run a couple scenarios on how much your credit score now cost you…just one digit off and you are paying more for your mortgage.
The following scenarios are based on a [...]
