Articles Tagged With: FHA Loan Rates

October 9, 2015

Mortgage Rate Trends: Moving Higher

It’s been a harder week for rates–last week we saw improvement on a daily or near-daily basis. This week, the opposite was true. On Thursday rates climbed higher, pushing 30-year fixed rate conventional mortgage loan interest rates out of their previous best-execution range (between 3.75% and 3.875%, depending on the lender and other factors) into a single, higher rate (3.875% best execution). FHA mortgage rates are still being reported at a best execution 3.5%, though if the upward trend persists, we’ll likely see that break out into a range of rates with 3.5% at the bottom end. If upward pressure continues over the short term, that range could consolidate into a higher best-execution rate. FHA rates have in the past tended to find a “comfort zone” and remain there, but | more...

October 7, 2015

Mortgage Rate Trends: Higher Since Friday

By Joe Wallace

Monday saw mortgage loan rates moving higher, wiping out some of the gains seen on Friday. Tuesday rates were unchanged to slightly higher, depending on the lender. 30-year fixed rate conventional loans are, at the time of this writing on Wednesday morning, in a best-execution range between 3.75% and 3.875%. Higher closing costs are where some borrowers may notice the biggest difference in rates between Friday and today. FHA mortgage rates are still being reported, best execution, at 3.5%, though if the upward trend continues it’s unclear how long until FHA mortgage rates break out of that single number and into a range of rates with 3.5% at the low end. Remember, “best execution” refers to an ideal situation. The rates listed here are offered to potential borrowers with outstanding | more...

October 3, 2015

Mortgage Rate Trends: Still Lower Depsite Ups And Downs

By Joe Wallace

On Friday a much anticipated jobs report came and went, offering what some market watchers describe as a strong excuse for the Fed not to raise interest rates. Rates on Friday started off strong, but some bond market turmoil did force a reversal of fortune, but not enough to keep rates from ending the day stronger than yesterday. How strong? 30-year fixed rate mortgage rates are squarely in 3.75% territory, best execution, with some more aggressive lenders offering best execution rates even lower than that. FHA mortgage loan rates moved out of the previously reported range and solidly into 3.5% territory, though FHA mortgage loan rates do tend to vary more among participating lenders than their conventional counterparts. Best execution rates are offered to those with outstanding FICO scores and | more...

September 28, 2015

Mortgage Rate Trends: Slightly Higher But Holding Within The Range

By Joe Wallace

On Friday, mortgage loan rates were generally found within the range of rates reported previously (see below). There was some upward movement on rates but in general 30-year fixed rate conventional mortgage loan interest rates are, best execution, between 3.875% and 4.0%. As of Friday FHA mortgage rates were in their best execution comfort zone of 3.75% and as always borrowers may notice more variation among participating lenders than with conventional counterparts. Best execution assumes ideal conditions such as outstanding FICO scores and other financial qualifications. The numbers reported here are not available to all borrowers or from all lenders. Your experience may vary. There are some scheduled economic data releases due this week, so it’s possible we could see some alteration of rates within the range, but Friday’s employment | more...

September 18, 2015

Mortgage Rate Trends: Lower After Fed Announcement

By Joe Wallace

The much anticipated Fed announcement came and went, and when rates were not raised, mortgage loan interest rates made a good recovery from the previous sideways-to-upward movement they were making. While Fed policy discussed yesterday does not directly dictate the rates offered by mortgage lenders, there is a definite influence there, and investor reaction to Fed policy also plays a role in pressuring rates higher or lower. So yesterday’s “no rate hike for now” announcement came as a welcome move, and by the end of the day we saw best execution rates for 30-year fixed rate conventional mortgages back in a range between 3.875% and 4.0%. That puts those numbers back in territory we haven’t seen since last week, but as many sources report, we’re still watching mortgage loan rates | more...

September 17, 2015

Mortgage Loan Interest Rate Trends: Holding Steady Ahead Of Big Fed Announcement

By Joe Wallace

Thursday is a very important day for mortgage rates, thanks to the much anticipated Fed announcement later today that could bring news of an interest rate hike…or not. That announcement, at the time of this writing, has not happened so we await the news from the Fed and will write a post about the announcement and its effect on the mortgage loan interest rate environment–look for that update on Friday morning. On Wednesday mortgage loan rates held steady, which was not the case on Tuesday as nervous investors made choices in the markets that directly affect mortgage loan rates that sent those rates higher. But for now, at the time of this writing, 30-year fixed rate conventional mortgage loan interest rates held steady (best execution) at or near 4.0%. FHA | more...

September 15, 2015

Mortgage Rate Trends: Holding Pattern Until The Fed Announcement?

By Joe Wallace

Monday kicked off a wait-and-see week with rates holding steady ahead of Thursday’s Federal Open Market Committee’s announcement with regard to a possible hike in interest rates. In years past, this type of FOMC announcement has had great power to move rates, and there is “no consensus among economists” according to a recent Business Insider article as to whether or not the rate hike will be announced this week. So markets are playing the waiting game, and that means, at least on Monday, that mortgage loan rates were in what some might categorize as “defensive mode”. Rates don’t seem to be budging, and that means that best-execution, we see reports of 30-year fixed rate conventional mortgage loan interest rates hovering at or near 4.0%. FHA mortgage loan rates are still | more...

August 27, 2015

FHA Mortgage Loan Interest Rate Trends: Creeping Higher

By Joe Wallace

You may have noticed we’ve been posting more this week on mortgage loan interest rate trends: overseas economic headlines from China and elsewhere have contributed to a volatile market environment that can definitely affect mortgage loan interest rates, so we’re posting more as the situation warrants. Mid-week, mortgage rates began creeping higher, but this time influenced by bond market activity–our sources point to a weak five-year Treasury auction that began putting upward pressure on mortgage loan rates in the afternoon on Wednesday, resulting in a range of best execution rates for 30-year fixed rate conventional mortgages between the previously reported 3.875% and 4.0%. Yes,we’re getting back into that old, familiar 4.0% zone, at least in the short term. FHA mortgage loan rates have not, best execution, budged from the 3.75% | more...

August 26, 2015

FHA Mortgage Rate Trends: Slightly Higher After Rough Stock Market Tuesday

By Joe Wallace

Mortgage loan rates weathered the stock market storm on Monday, but Tuesday’s market activity brought slightly higher rates. It’s been a tough time for those watching market activity hoping for a mortgage loan interest rate rally, but numbers are still sub-four percent (best execution) and we even saw reports of some lenders offering 30-year fixed rate conventional best execution rates as low as the FHA comfort zone rate (3.75%) on Monday. But rates edged higher on Tuesday, putting things more solidly into the previously reported 30-year fixed rate conventional mortgage loan rate of 3.875%-which is still prevalent at the time of this writing. Wednesday’s activity, at the time of this writing, hasn’t even emerged solidly, but it’s definitely going to be an interesting ride to the end of the week. | more...

August 25, 2015

FHA Mortgage Rate Trends: Slightly Lower As Stock Market Varies

By Joe Wallace

Mortgage rates were, in the eyes of some observers on Monday, quite conservative in the shadow of stock market ups and downs. Rates did creep a bit lower, putting 30-year fixed rate conventional mortgages solidly into 3.875% territory, best execution. That eliminates the previous range of best execution rates for 30-year fixed conventional rates that saw 3.875% at the low end. FHA mortgage loan rates are still in their comfort zone of 3.75% best execution, though as always rates may vary more among participating FHA lenders. Best execution rates are not available to all borrowers or from all lenders–your experience may vary depending on your FICO scores and other financial qualifications. The availability of a participating FHA lender may also play a role in your access to rates like theses. | more...