Articles Tagged With: Interest Rate Trends

March 28, 2016

Mortgage Rate Trends: Higher Before Easter Weekend

Last week, mortgage rates were on an upward trend, moving higher in small increments three out of the four business days before the long weekend. On Wednesday there was a glimmer of recovery, but on Thursday rates were back on the move upward, eliminating the previous range of rates for conventional mortgages and consolidating into one fixed-rate best execution number. 30-year fixed rate conventional mortgages had been in a best execution range between as low as 3.625% (the previous Friday) and 3.875%. We closed out the week with rates moving into a best execution 3.75% depending on the lender. In some cases borrowers may notice changes in closing costs rather than actual rates, but suffice it to say that it’s been a bumpy road for these rates lately. FHA mortgage | more...

March 23, 2016

Mortgage Rate Trends: Edging Higher

By Joe Wallace

What is bad for the economy is often good for mortgage loan rates, and Tuesday’s world headlines should have, by all accounts, helped rates move lower. But all the bad news yesterday did not keep rates from moving slightly higher (for a variety of reasons) and it seems that we could be on the verge of a new upward trend depending on how rates behave over the next several business days. Tuesday’s move higher will likely be noticed mostly in closing costs rather than actual mortgage rate increases but your experience may vary depending on the lender. 30-year fixed rate mortgage loan interest rates moved into a different range of rates, now reported at a best-execution range between 3.75% and 3.875%. FHA mortgage rates are holding steady in their best | more...

March 8, 2016

Mortgage Rate Trends: Edging Higher

By Joe Wallace

Monday saw mortgage rates moving higher, pushing rates closer to highs we haven’t seen since early in the year. 30-year fixed rate conventional mortgages are still reported in a best-execution zone around 3.75%. Some borrowers may have noticed Monday’s rate movement in the form of higher closing costs, but if the upward trend continues we could see conventional fixed rates break out into a range between 3.75% and 3.875%. FHA mortgage rates are still reported in a range between 3.25% and 3.5%, but how long this remains isn’t clear. Upward pressure on rates could eventually push this range back into a single best-execution rate at the upper end of the current range. As always, access to the best execution rates listed here depends greatly on the borrower’s financial qualifications. Your | more...

March 7, 2016

Mortgage Rate Trends: Higher On Friday

By Joe Wallace

Mortgage loan interest rates moved higher on Friday after the much-anticipated Employment Situation Report came out with numbers better than some expected. When it comes to economic data releases, information that indicates an improving economy can be bad for mortgage loan interest rates depending on investor reaction to that data. Sometimes the markets ignore such data in favor of other breaking news or developments, so scheduled economic data releases like the employment report don’t always or consistently affect mortgage loan rates. This time, the data did influence rates, and we saw 30-year fixed rate conventional mortgages move out of a previous range between 3.625% and 3.75% (best execution) and more solidly into the 3.75% zone. FHA mortgage loan interest rates stayed in their current best-execution comfort zone range between 3.25% | more...

March 2, 2016

Mortgage Loan Interest Rate Trends: Moving Higher

By Joe Wallace

Mortgage loan interest rates were sideways to slightly higher to end last week, and on Monday things kicked off with rates pushing slightly lower. But on Tuesday rates took a turn upward, pushing some closing costs higher but also breaking conventional loans out of their previous single-number best execution rate and into a new range. 30-year fixed rate conventional mortgages were reported in a best-execution range between 3.625% and 3.75%. If the upward trend persists that range could disappear in favor of a more solid 3.75%, but for now your experience may vary more among conventional lenders depending on your financial qualifications. FHA mortgage loan interest rates are still holding in a best-execution range between 3.25% and 3.5%, though that range also could be affected by more upward movement this | 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...

January 22, 2016

Mortgage Rate Trends: Sideways

By Joe Wallace

Mortgage rates hit lows not seen in many months at the end of last week, and in spite of some small amount of lost ground we still see mortgage rates at sub-four percent lows at the time of this writing. Thursday saw 30-year fixed rate conventional mortgage loan interest rates staying, best execution, in a range between 3.75% and 3.875%. FHA mortgage rates are holding steady at the time of this writing at 3.5% (best execution) which is a far better comfort zone to fall into than the previously long-held 3.75%. How long FHA rates will remain here isn’t clear but the mortgage rates today held fast in spite of some market conditions that ordinarily would put upward pressure on rates. So it’s clear that there’s some potential for rates | more...

January 19, 2016

Mortgage Loan Interest Rate Trends: 180-Day Lows

By Joe Wallace

Ahead of the three-day weekend, Friday saw mortgage rates break some new ground–rates that, best execution, we havent’ seen in quite some time. Rates broke the four percent zone and began moving lower for both conventional and FHA mortgages. How long this trend may last remains to be seen, but some sources report oil prices and stock market woes as being responsible for at least a chunk of the improvement in mortgage rates we are seeing at the time of this writing. 30-year fixed rate conventional mortgages left the four percent range altogether and headed into best execution territory at a range between 3.75% and 3.875%. On many days where there is improvement, FHA mortgage rates tend to lag behind and remain in a comfort zone (3.75% has been the | more...

January 14, 2016

Mortgage Rate Trends: 60-Day Lows Holding

By Joe Wallace

For the past five business days, we’ve seen mortgage rates moving lower than they’ve been in about eight weeks. Some industry professionals are calling it a rally. Whatever the label, we’re seeing mortgage loan rates moving to the (best execution) rock-bottom of the four percent range or lower depending on the lender. 30-year fixed rate conventional mortgages are, best execution, most aggressively offered just under the four percent range at the time of this writing, while FHA mortgage loan rates are still holding steady at a best execution 3.75%, though you will find greater variation among participating lenders than with conventional mortgage counterparts. The causes for this rally include tough days for certain types of trading–to those not accustomed to watching mortgage rates it may seem like a contradiction that | more...

December 29, 2015

Mortgage Rate Trends: Holiday Calm

By Joe Wallace

Mortgage loan rates are being reported in “holiday mode” at present, so while there was some very minor adjustments for the better in rates, we’re not likely to see much in the way of dramatic movement this week barring some form of breaking news that causes a significant investor reaction. As we move from one short week to another before the new year, there is lighter activity in the financial sector, things slow down, and investor behavior tends to reflect this winding-down time, so it’s no surprise that the word “float” is being used a lot when it comes to advising borrowers on getting a mortgage rate lock or not this week. Many industry pros feel floating carries a smaller degree of risk than it did previously due to the | more...