Are Rates Shooting to the Moon? February 20, 2008
Don’t worry…I understand that Helicopter Ben and the US Military have shot down a spy satellite to help blow inflation out of the sky. Mortgage rates should improve tomorrow morning and I will report back on Friday with my weekly rates. I snapped this photo of the lunar eclipse in front of our [...]
30 Year Fixed over 6%
There was a time when mortgage rates were…oh, yawn…pretty darn boring. Not any more. Oh the drama, the turbulence, the emotion!
Dan Green of The Mortgage Reports has an excellent post including some comic relief video explaining How Mortgage Rates Went From (Relative) Riches to Rags in 30 Days.
Dan’s post is a [...]
Mortgage rates heading up February 15, 2008
Mortgage rates continue their trend upward and they don’t look like they’re coming back down soon. This market is still very volatile and as I always, I encourage you to lock and not float your interest rates if you a closing within the next 4-6 weeks. If you’re hunkering for more [...]
Friday’s Rates February 8, 2008
We are closer to the conforming loan limits being increased through the end of 2008. After President Bush signs HR 5140 into law, HUD will have 30 days to publish what will be used for median home prices. The temporary conforming limits will be based on 125% of the median home price. [...]
Friday’s Rates February 1, 2008
Conforming Mortgage Rates (loan amounts up to $417,000 for 1-unit properties). The conforming rate quote below is based on owner occupied, “full doc” purchase with a minimum credit scores of 680 with an 80% loan to value or lower, a loan amount of $400,000, and with reserves (taxes & insurance) not being waived. Rates quoted [...]
Fed Funds Rate now at 3% January 30, 2008
Today the FOMC reduced the Fed Funds rate by a half point to 3%. A half point rate cut was expected by Traders and so far we do not have significant changes (yet) to mortgage interest rates. However, if you have a HELOC, your interest rate has just gone down again. The Fed also reduced [...]
Friday’s Rates: 30 Year returns to the Mid to Low 5’s January 25, 2008
T.G.I.F! Mortgage interest rates have improved slightly since this morning by 0.125% across the board. Jumbo rates jumped up significantly on Wednesday. And as if this week didn’t provide enough drama, next week is packed with events that assures another volatile ride with mortgage interest rates. As always, I strongly recommend locking. In this market, rates may change as soon as [...]
Lock It or Lose It January 24, 2008
Mortgage rates have been very volatile these past few days. Yesterday morning, I posted that the 30 year conforming fixed was under 5% and by the end of yesterday, mortgage rates had increased by 0.375% to rate or around 1% in fee.
Rate shoppers lost out big time if they did not lock.
Rates are continuing to rise [...]
I Love Brian Brady’s Twitter - You Will Too January 22, 2008
I wish I could save this post for Valentines Day! Earlier this month, fresh from Inman NY, Brian announced that he is going to start posting tidbits of rate info on Twitter. If you subscribe to Brian’s Twitter, Mortgage Report, you’ll be notified if he feels you should be locking or floating…this is similiar to what [...]
Surprise! Fed Cuts Funds Rate by 0.75%
We took our boys snowboarding last night at Snowqualmie where I began to receive text message alerts on my Treo about various markets being slammed from around the world based on fears of a US recession. The Fed met last night deciding to make an intermeeting cut to the Funds Rate to 3.5%. This is the biggest single Fed [...]
« newer posts | older posts »
