Articles Tagged With: Interest Rates

October 29, 2015

Mortgage Rate Trends: Moving Higher Post-Fed

The Fed announcement on Wednesday did not include a statement that interest rates would be raised, but mortgage loan rates pushed a bit higher yesterday regardless. There were indications from the Fed that December’s statement could include more specific information about a rate hike, and that served to put upward pressure on mortgage loan rates as investors reacted to those indications. Not everything the Fed says and does is clear cut–sometimes the tone of the announcements can be enough when it comes to whether or not a rate hike might happen–when the Fed is down on the economy in general, that’s a good sign that a hike in rates is not forthcoming. But when the Fed makes more positive statements, it can be interpreted as the foreshadowing of actions to | more...

October 28, 2015

Mortgage Rate Trends: Sideways to Slightly Better Pre-Fed

By Joe Wallace

Wednesday is potentially a big day for mortgage rates–there’s an FOMC announcement today that could influence mortgage loan rates depending on the contents of that announcement and investor reaction to it. The Fed has been debating a hike in interest rates once the economy is deemed in the right position to accept the hike. Any talk of raising rates has in the earlier times put investors in a mood to react in ways that put upward pressure on mortgage rates. That said, some feel there’s no rate hike coming–at least not today. According to a Marketwatch.com piece this morning by columnist Frank Gold, “Almost no one is looking for the Federal Open Market Committee (FOMC) to raise short-term interest rates when it ends its October meeting on Wednesday.And few expect | more...

October 26, 2015

Mortgage Rate Trends: Lower, Then Slightly Higher

By Joe Wallace

On Thursday, mortgage loan rates went to lows we haven’t seen in several months, but Friday brought with it slightly higher rates. Even so, best execution rates for 30-year fixed rate mortgages is still being reported in a range between 3.75% and 3.875. FHA mortgage rates are being reported, best execution, at their previously mentioned 3.5%. These “best execution” rates are not available to all borrowers or from all lenders. Your access to these rates depends on your FICO scores, loan payment history and other financial qualifications. Your experience may vary. The end of the week saw some market volatility, and there are questions going into the new week about the Fed and global economic issues. Many industry professionals are using the word “lock” when discussion mortgage rate commitments–some believe | more...

October 22, 2015

Mortgage Loan Interest Rate Trends: Recovering After A Move Higher

By Joe Wallace

On Tuesday, mortgage loan rates moved a bit higher, then recovered on Wednesday. These are basically small adjustments and loan applicants may, where applicable, find the difference in closing costs rather than an actual higher or lower rate. At the time of this writing, 30-year fixed rate conventional mortgage loans were still offered by many lenders at a best execution rate between 3.75% and 3.875%. The reason for the downward movement on Wednesday included improvements in the bond markets that affect mortgage loan rates, but there’s some European economic data due for release on Thursday that could, depending on report contents and investor reaction to that report, put pressure on rates. FHA mortgage rates are still being quoted at 3.5% best execution, though as usual we like to remind our | more...

October 20, 2015

Mortgage Rate Trends: Holding Steady For Now

By Joe Wallace

Monday saw mortgage loan interest rates hold steady after the weekend, keeping things more or less where they’ve been since Thursday. That keeps 30-year fixed rate conventional mortgages, best execution, in the 3.75% to 3.875% range we’ve been talking about for three days now. At the time of this writing, FHA mortgage loan rates are holding steady at 3.5% best execution, and the longer they stay the more it seems this is the new comfort zone (again, best execution) for FHA mortgage loan interest rates. Keep in mind that FHA rates may vary more among participating lenders, so it is a very good idea to shop around for the most competitive rates. And as always, “best execution” refers to situations where the loan applicant is extremely well-qualified, with outstanding FICO | more...

October 16, 2015

Mortgage Rate Trends: Holding On To Recent Gains

By Joe Wallace

Thursday was another day marked by a lack of upward movement in mortgage rates. The short week began with some improvement and by the end of the day on Thursday we have 30-year fixed rate conventional mortgage rates back in a range between 3.75% and 3.875% best execution. FHA rates are also holding steady, best-execution, at 3.5%. Best execution rates are not available to all borrowers or from all lenders. Your experience may vary depending on your FICO scores, loan repayment history and other financial qualifications. The availability of a participating FHA lender willing to offer the rates you see here may also be a factor, depending on circumstances. Thursday’s hold-steady behavior was in spite of activity in bond markets that can, under the right conditions, add upward pressure to | more...

October 9, 2015

Mortgage Rate Trends: Moving Higher

By Joe Wallace

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...

September 16, 2015

Mortgage Rate Trends: Moving Higher Ahead Of Fed

By Joe Wallace

You may notice us posting more this week about FHA loan interest rate trends; that’s because this is a major week for mortgage loan rates since the Fed announcement due Thursday on a possible interest rate hike is a major news item. Yesterday we reported that it is very likely that rates might go into a holding pattern ahead of the Fed, but as anxiety builds, investor behavior is putting upward pressure on the markets that directly affect mortgage rates. On Tuesday rates moved higher, pushing many lenders aggressively offering sub-four percent rates on 30-year fixed rate conventional mortgages (best execution) back into the 4.0% zone. Some borrowers may have noticed the difference in closing costs rather than an actual rate move depending on the lender. FHA mortgage loan rates | more...

September 8, 2015

FHA Mortgage Loan Interest Rate Trends: Higher After Holiday Weekend

By Joe Wallace

Last week mortgage loan rates attempted some downward momentum, but it wasn’t anything close to being a decisive move lower. There is a great deal of anticipation at the moment–all eyes are on the Fed who are due for another meeting where the fate of U.S. interest rates could be decided–will there be a rate hike announced in September? Will the Fed hold off on raising interest rates until December? Those questions seem to be holding mortgage rates in a sideways-to-slightly-higher situation in the short term. After the three-day weekend, mortgage loan rates edged slightly higher, putting 30-year fixed rate conventional mortgages more squarely in 4.0% best execution territory, up from the previous range between 3.875% and 4.0%. So far, FHA mortgage loan rates are holding steady, best execution, at | more...