Friday’s Rates following the Rescue/Bail Out October 3, 2008
There have been so many factors that typically influence the direction of mortgage rates over this past week, it’s amazing. Just this morning we had another dismal Jobs Report with a greater loss than expected (for the 9th consecutive month); typically, this would improve mortgage interest rates. However, as Jillayne mentions, there are rumors of the FOMC [...]
Pricing Rates in a Volatile Market September 30, 2008
Today was a “four rate sheet day” from most of the lenders that I work with (as of 4:30 PST). Although I have fewer banks/lenders to work with, I’m grateful to have options. Here’s an example of how much rates changed today with one of the banks I work with:
7:30 AM: my first rate sheet from [...]
Friday’s Rates September 26, 2008
Many changes with FHA financing will go into effect with the passage of HR 3221 by the time I post rates next Friday. Effective October 1, 2008:
Down payment assistance programs (such as Nehemiah) will be a no-no (without the passage of new legislation).
Minimum down payments are increased to 3.5% (from 3%).
Mortgage insurance premiums are increased.
Also with the [...]
Friday’s Rates September 12, 2008
Mortgage rates continue to be very volatile. They are improved from last week’s rate report yet higher than the low point (mid 5’s for 30 year) earlier this week. If you’re considering a mortgage, you need to be in position to lock with low rate opportunities are present. So far today, one of the more conservative lenders [...]
A Word on Friday Rates September 7, 2008
Just a few quick thoughts I want to share with you about the rates that I’m posting here at Rain City Guide on Friday afternoons.
First of all, the rates shown are really only intended to serve as guide. They really just point out the direction rates are trending (thanks to The Tim’s addition of the up/down [...]
Interest Rates following the Jobs Report September 5, 2008
A dismal Jobs Report with the highest unemployment in 5 years and revisions for the worse to previous reports isn’t much to about…unless you’re in the market for a new mortgage. This bad news for the economy translates to improved mortgage interest rates. Currently (at the time of this post) I’m on my second [...]
Friday’s Mortgage Interest Rate Update August 29, 2008
The comparison of rates is based on when I last posted on (I skipped a week while our family was vacationing at Lake Roosevelt). Overall, rates are slightly improved to unchanged and do continue to be volatile.
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner [...]
Friday’s Rates on Thursday July 3, 2008
Huh? Since tomorrow is Independence Day, the bond markets will be closed…so I thought I would provide you with mortgage rates on today. We also had the Jobs Report released today which reported a loss of 62,000 jobs and an additional 52,000 jobs lost in April and May with unemployment remaining at a four year high at 5.5%. [...]
Mortgage Rates Rising with Inflation June 13, 2008
Rates are continuing their climb up upwards. Helping to fuel this rise in rates, Greenspan has announced that markets are showing a “pronounced turn around” causing investors to trade the safety of bonds (such as mortgage backed securities) for stocks. Great for stocks = bad for mortgage interest rates. Mortgage rates are currently 0.25% higher than they were on last Friday’s [...]
Friday’s Rates May 16, 2008
Rates continue to be very volatile…I’ve seen up to 3 rate sheets from one lender so far today. Consumer Sentiment came in at an all time low and bonds did ralley early on but have lost their gain. To see live rate quotes for various scenarios, check out my Twitter.
Conforming Mortgage Rates (loan amounts up [...]
