Articles Tagged With: FHA Loan Rates

March 31, 2016

Mortgage Rate Trends: Recovering Lost Ground

Mortgage rates have reclaimed some lost ground in the wake of a speech this week by Fed chair Janet Yellin. The Fed is still committed to “carefully” raising interest rates–a gradual increase as the U.S. economy continues to improve. The markets that affect mortgage rates has responded to this (among other factors) and we’re seeing mortgage rates starting to move lower accordingly. 30-year fixed rate mortgages were reported moving into a best execution range between 3.625% and 3.75%. FHA mortgage rates haven’t moved out from the comfort zone we’ve been discussing for some time so in spite of the conventional move we still see FHA mortgage rates at a best execution range between 3.25% and 3.5%. FHA rates vary more among lenders than their conventional equivalents so your experience may | more...

March 21, 2016

Mortgage Rate Trends: Slightly Lower Friday

By Joe Wallace

Friday closed out the week slightly lower, which means that a majority of last week brought some form of mortgage loan rate improvement or at the very least no moves higher. All days but one last week were marked by some kind of small gain, taking back some of the losses from the week prior. At the time of this writing, 30-year fixed rate conventional mortgages are in a best execution range between 3.625% (likely the most competitive lenders are offering something at or near this) and 3.875%. Our sources note that the average best execution rate offering likely falls somewhere in the middle of this range. FHA mortgage loan interest rates remain in their best execution comfort zone in a range we’ve reported for some time now–between 3.25% and | more...

March 18, 2016

Mortgage Loan Interest Rate Trends: Improving

By Joe Wallace

Thursday saw a decisive move lower for interest rates. After many days of upward movement, and some recovery earlier in the week following a Fed announcement (one that had no talk of another rate hike for now) it seems that rates are headed back down. This trend is being described by some market watchers as a delayed reaction to the Fed–are some lenders slower to update their mortgage loan interest rates due to recent volatility in the market? That’s what some are thinking. 30-year fixed rate conventional mortgages are now operating in a best execution range between 3.625% and 3.875%. That is a wider range than previously reported, though you will find variation among conventional lenders and your access to these rates depends greatly on your financial qualifications. (“Best execution | more...

March 16, 2016

Mortgage Rate Trends: Some Improvement After Fed Announcement

By Joe Wallace

Mortgage rates improved a bit on Wednesday after the Fed made its much anticipated statement-one that included no discussion of a further raise in interest rates for now. How much changed today depends greatly on the lender, and some may see the difference in terms of closing costs as opposed to an outright shift in the mortgage loan interest rate. The improvement wasn’t dramatic, but in light of the recent upward trend, any recovery is welcome, however small. 30-year fixed rate conventional mortgages are still basically reported in a best execution range between 3.75% and 3.875%. FHA mortgage loan interest rates are still holding in the comfort zone range between 3.25% and 3.5% that we have been reporting for many days now. FHA mortgage loan rates are often slower to | more...

March 10, 2016

Mortgage Rate Trends: Lower, Then Higher

By Joe Wallace

Mortgage rates dropped a bit on Tuesday, but edged higher on Wednesday ahead of Thursday’s scheduled announcement by the European Central Bank (ECB) which has potential to move rates depending on the contents of that announcement and investor reaction to it. We’ve seen rates shift up and down in the last week or so (mostly up); industry professionals used phrases on Wednesday like “highest since January” but those professionals are often quick to point out that the movement we’ve seen lately is within a specific range. That range has been fairly narrow so the moves higher and lower should be viewed in context. There doesn’t seem to be much short term danger of breaking out of that range, but breaking news and things like the European Central Bank announcement have | more...

February 25, 2016

Mortgage Rate Trends: Sideways To Lower

By Joe Wallace

Mortgage loan rates this week to date have been either holding their own (Monday) or moving slightly lower (Tuesday and Wednesday). While market activity did see some lenders raising rates, overall best execution levels are still at 3.625% for 30-year fixed rate conventional mortgages. FHA loans are still within a best execution range between 3.25% and 3.5%, some of the most favorable rates seen in quite some time. “Best execution” refers to rates offered to the most extremely well-qualified borrowers. Your FICO scores, loan repayment history and other financial qualifications will determine your access to these rates. Your experience may vary; the rates you see listed here are not available to all borrowers or from all lenders. Right now, rates are lower because of negative economic factors (among other things)–it | more...

February 19, 2016

Mortgage Rate Trends: Ending The Week With A Move Lower

By Joe Wallace

After three consecutive business days of rates edging higher (hitting 14-day highs at one point), Thursday and Friday saw them moving back down, recovering some of the losses earlier in the week. Some industry pros were anticipating a possible slight move higher today due to bond market activity, but at the end of the trading day that did not pan out. That puts 30-year fixed rate conventional mortgage rates at a best execution 3.625% (depending on the lender), with FHA mortgage rates remaining in a range between 3.25% and 3.5% best execution. FHA rates will vary among participating lenders so your experience may vary. Also, best execution rates as seen here aren’t available to all borrowers or from all lenders. Your FICO score and other financial qualifications play a large | more...

February 18, 2016

Mortgage Loan Interest Rate Trends: Moving Higher

By Joe Wallace

This week mortgage loan interest rates have been pushing higher but we still see rates at incredible lows. 30-year fixed rate conventional mortgages had fallen to 3.5%, and this week at the time of this writing they had nudged back up to 3.625% best execution. Depending on the lender you may find that best execution rate in a range between 3.625% and 3.75%. FHA best execution rates are currently in a range between 3.25% and 3.5%, depending on the lender. Naturally your experience may vary and best execution rates seen here are not available to all borrowers or from all lenders. Your FICO scores, loan repayment history and other financial qualifications always play a big role in your access to the rates seen here. Industry professionals say the current lows | more...

February 8, 2016

Mortgage Rate Trends: Holding Steady After Jobs Report

By Joe Wallace

Friday was a day that could have influenced rates in an important way in the short-term, but investors didn’t react much (in terms of activity that could influence mortgage rates) to the employment report issued–mortgage rates stayed where they’ve been more or less. Our sources report a few lenders may have repriced, but overall the mid-to-upper three percent best execution rates we’ve been seeing have remained through the weekend. 30-year fixed rate conventional mortgages are still being reported, best execution, between 3.625% and 3.75%. The upper number in that range is the formed “comfort zone” for FHA mortgage rates, which have dropped to a best-execution 3.5%. FHA rates tend to vary more among participating lenders, so your experience may vary based on the lender. As always, the best execution rates | more...

January 25, 2016

Mortgage Rate Trends: Higher On Friday

By Joe Wallace

After some good improvements last week, Friday came to undo some of that progress. Earlier in the week mortgage loan rates were solidly in the high three percent zone, but after Friday’s upward turn, we see four percent back in the picture. 30-year fixed rate conventional mortgage loan rates were in a range on Friday between 3.875% and 4.0%, best execution. FHA mortgage rates are still being reported, best execution, at 3.5% but if the upward trend continues this week we could see that number shift into a range of rates with 3.5% at the low end, or we could just see FHA mortgage loan interest rates shift back into the previously long-held 3.75% (best execution). (As always, it’s important to remember that best execution rates are not available to | more...