Articles Tagged With: Interest Rate Trends

June 1, 2016

Mortgage Rate Trends: Holding For Now

The two days before the holiday weekend, mortgage loan rates held steady or changed very little, depending on the lender. On Tuesday, the first business day of the week, we saw rates basically doing the same thing at the end of the day after some ups and downs; at the time of this writing best execution rates are where they have been, more or less, for about a week now. That means 30-year fixed rate conventional mortgages are at or near 3.75% best execution. The actual best execution number may vary depending on the lender, the time of day, etc. FHA mortgages are still in a best execution range between 3.25% and 3.5%. FHA rates tend to take longer to change than their conventional counterparts, but a dramatic move higher | more...

May 26, 2016

Mortgage Rate Trends: Sideways To Slightly Higher

By Joe Wallace

Ever since the release of the Fed minutes earlier this month there has been upward pressure on mortgage loan rates. The Fed is considering another interest rate hike sooner rather than later, and while a Fed rate hike is not a direct adjustment of mortgage loan rates, investor reaction to the hike and market activity can and often does react accordingly when the Fed acts in this way. In the last five business days there was only one day of recovery, while the rest of the time we’ve seen either “sideways” movement where rates didn’t change that much (best execution) overall but may have varied more among certain lenders. Wednesday saw rates moving sideways to slightly higher depending on the lender. 30-year fixed rate conventional mortgages had been operating in | more...

May 18, 2016

Mortgage Rate Trends: Higher Ahead of Fed Minutes

By Joe Wallace

Mortgage rates took a turn higher on Tuesday, with some market watchers pointing out that investor behavior ahead of the scheduled release of Fed meeting minutes on Wednesday afternoon could be responsible for some of that upward pressure on mortgage rates. 30-year fixed rate conventional mortgage loans moved out of their previous range and into a single best-execution 3.625%. This best execution rate is still low compared to past numbers but the elimination of the previous range means conventional mortgages are a bit farther away than their FHA counter parts. Previously there was some on-paper overlap between conventional and FHA rates, though FHA mortgage loan rates tend to vary more among participating lenders. FHA mortgage loans are still in a best execution range between 3.25% and 3.5%. It may take | more...

May 16, 2016

Mortgage Rate Trends: Slightly Lower After Late Week Losses

By Joe Wallace

After last week’s move into the best rates of the year (best execution), then losing ground, mortgage rates closed out the week slightly lower. That raised hopes for some that continued improvement could come in the short term. At the time of this writing, 30-year fixed rate conventional mortgage loan rates were in a best execution range between 3.5% and 3.625%. That puts conventional rates closer to the FHA range of rates than is typically seen, though FHA mortgage loan rates do tend to vary more between participating lenders. At the time of this writing, FHA mortgage rates are in a best-execution range between 3.25% and 3.5%. FHA mortgage loan rates tend to take a bit more time to reflect gains and losses in the market as they affect mortgage | more...

May 11, 2016

Mortgage Rate Trends: Moving Lower

By Joe Wallace

Mortgage loan interest rates have improved this week, hitting new lows that put conventional mortgages into a new range of rates (best execution) that are now, on paper at least, overlapping the current best execution FHA mortgage rate range. This development has encouraged some industry professionals to begin speculating as to whether the new lows are the “floor” of the improvements or whether new lows could be reached (however short-term they may be). Time will tell whether that speculation has any merit, but rates could easily be pushed in the opposite direction depending on circumstances. 30-year fixed rate conventional mortgages are at the time of this writing in a best-execution range between 3.5% and 3.625%. That range is close to the FHA mortgage loan best execution range, which at the | more...

May 9, 2016

Mortgage Rate Trends: Moving Lower After Jobs Report

By Joe Wallace

Friday the much-anticipated Employment Situation Report had data that wasn’t as favorable as expected. That helped rates further recover some losses seen in late April, resulting in some market watchers to declare Friday’s gains as the “lowest in three years” (best execution) for some financial institutions. On Friday, 30-year fixed rate conventional mortgages were, best execution, in 3.625% territory. That’s down from a late-April range with 3.75% at the upper best execution end. FHA mortgage rates remain in a range between 3.25% and 3.5%. FHA rates tend to vary more among participating lenders, so it is a very good idea to shop around for the best rates. As always, best execution rates are not available to all borrowers or from all lenders. Your access to rates like these depends greatly | more...

May 4, 2016

Mortgage Rate Trends: Back to Previous Lows

By Joe Wallace

Since our last look at mortgage loan interest rates (which were moving higher) we’ve seen stock market woes affect mortgage rates. As plenty of professionals will tell you, stocks don’t have a specific tie with mortgage rates, but investor reaction to woes of the market can and often do affect mortgage loan interest rates. So while you won’t see a reciprocal effect with stocks (better or worse stock performance directly changing mortgage loan interest rates) you may notices that under the right circumstances, the kind of behavior happening now. And that behavior is essentially, based on our sources, that stock market troubles this week are helping mortgage rates. 30-year fixed rate conventional mortgages have slid back down to 3.625% best execution, down from the range between 3.625% and 3.75%. FHA | more...

May 2, 2016

Mortgage Loan Interest Rate Trends: Improving

By Joe Wallace

Mortgage loan interest rates had started moving higher in the last ten business days–seven out of then had rates either creeping higher or holding steady after doing so. But in the last three business days, we’ve watched rates begin to move back downward, pushing 30-year fixed rate conventional mortgages back into a range of rates. Professional market watchers report that conventional rates have a higher degree of variation lately due to market volatility, but in general 30-year fixed rate conventional mortgages are at a best-execution range between 3.625% and 3.75%. FHA mortgage rates are still in a range between 3.25% and 3.5% best execution. Best execution rates aren’t available to all borrowers or from all lenders–your experience may vary depending on FICO scores, loan repayment history and other financial qualifications. | more...

April 27, 2016

Mortgage Rate Trends: Holding For Now

By Joe Wallace

We’re writing more this week on mortgage loan interest rate trends due to the upward movement and the potential for this week’s economic data releases (and scheduled Fed statement) to influence those rates. After dropping to year-long (or greater) lows, rates moved higher, but not yet into the four percent range we’ve seen in the past. At the time of this writing (ahead of the Fed statement due out on Wednesday) 3o-year fixed rate mortgages were holding at a best execution 3.75%, though some holdouts may still be offering rates a bit lower for now. FHA mortgage rates are still in a range between 3.25% and 3.5% best execution. If the Fed statement has investors reacting in ways that put upward pressure on mortgage loan rates, we could see that | more...

April 11, 2016

Mortgage Rate Trends: Near Best Levels All Year?

By Joe Wallace

With only one day last week with rates moving upward, we’ve seen mortgage loan interest rates hit territory better than we’ve seen for a good portion of 2016. Much of last week was either improvement, or holding steady following that improvement. On Friday rates didn’t move downward, but they definitely held steady. 30 year fixed rate conventional mortgage rates with some very competitive lenders were as low as 3.5% best execution, with many more offering a best execution 3.625%. FHA mortgage loan rates remained at 3.25% best execution, having moved out of a previous range with 3.5% at the top end (best execution). It’s not clear whether this rate will become a new comfort zone for FHA loans or if we’re seeing a short term trend only. As always, best | more...