Articles Tagged With: Interest

February 15, 2016

Mortgage Rate Trends: Higher After A Week Of Lows

Mortgage loan interest rates took a major dip last week, hitting best-execution lows of 3.5% at the height of the week’s improvements. But on Friday a “bounce” happened, pulling things back a bit. Some industry professionals feel it’s possible this move higher could be a correction or trend to come after the unusual week of lows we’ve seen, but it’s too early to tell. 30-year fixed rate conventional mortgage loans wound up at a best-execution 3.625%, which ends the week in territory that is still quite good. Some may regret if they missed out on the 3.5% best execution rate that appeared briefly last week, but these rates are still in a place we haven’t seen in a long time–some sources say these rates are reminiscent of the record lows | more...

November 4, 2015

Mortgage Rate Trends: Moving Higher For A Second Day In A Row

By Joe Wallace

Last week, mortgage rates moved higher on Thursday, then leveled out and didn’t lose any more ground on Friday. But Monday and Tuesday we’ve seen the rates move to their highest numbers in four weeks or so, pushing best execution rates for 30-year fixed rate conventional mortgages farther away from that 3.75% zone we saw last month. 30-year fixed rate conventional mortgages have moved recently into a range between 3.875% and 4.0%; if upward pressure continues we could see 4.0% (best execution) become far more prevalent. At the time of this writing, FHA mortgage rates are still at their 3.5% best execution comfort zone but this time around that might not last as long as the previous FHA mortgage loan rate comfort zone–we’re likely to see rates break out into | more...

July 22, 2015

FHA Mortgage Loan Interest Rate Trends

By Joe Wallace

This week has been an interesting one for mortgage loan interest rates. In fact, for the last seven business days, rates have varied between flat to slightly improved. The best execution rates for 30-year fixed rate conventional mortgages have moved from 4.25% at the upper end of a range of best execution rates to between 4.0 and 4.125% depending on the lender. Tuesday saw mortgage loan rates fall to fourteen day lows–the rates have been improving in very small increments, but any change for the better is definitely welcome. FHA mortgage loan rates are still within the previously reported comfort zone between 3.75% and 4.0% best execution. It may take several days of sustained improvement at the current rate of change, or a day or two of more dramatic adjustments | more...

June 25, 2015

FHA Mortgage Rate Trends: Sideways

By Joe Wallace

After small-but-steady improvement recently, rates opened the week with a jump higher that wiped out the previous improvements, and by Wednesday mortgage loan rates have been wavering back and forth, more or less holding the same position when all is said and done. 30-year fixed rate conventional mortgages are up for 4.125% best execution, and we’re still seeing FHA mortgage loan rates holding a best execution comfort zone of 3.75%. As we always point out, best execution rates are offered to those applicants with the most ideal financial qualifications. Your own experience will depend greatly on FICO scores, your credit history and other factors. FHA mortgage loan rates can vary more among participating lenders than their 30-year fixed rate conventional counterparts. FHA rates have been in the 3.75% best execution | more...

June 17, 2015

FHA Mortgage Loan Rates: Post-Fed, Moving Lower

By Joe Wallace

It’s been a tricky week for mortgage loan rates in general; rates seemed to be in a “defensive” position ahead of the highly anticipated Fed announcement which happened today–that announcement had major power to influence rates higher or lower depending on the contents of the statement and investor reaction to it. So what happened with rates today? According to several sources, certain markets that influence mortgage rates were weak in the morning, which sent some lenders to adjust their rates accordingly. Once the Fed had made its eagerly awaited announcement, rates began moving back the other way. Why? The Fed could have announced an interest rate hike today, which can and often does (when it occurs) have a negative effect on mortgage rates. But instead, the Fed declared that while | more...

June 13, 2015

FHA Mortgage Loan Interest Rates: Still Near 2015 Highs

By Joe Wallace

We’ve been posting more about home loan interest rate trends as of late–rates have been moving higher in the last few weeks to what some industry professionals term 2015 highs. Next week we are due for an important, and highly anticipated announcement from the Federal Open Market Committee (FOMC) which has the power to influence mortgage loan rates depending on investor reaction to it. The big debate among some market watchers going into next week is whether or not the FOMC announcement WILL affect rates, or if European economic news will overshadow it. We’ve seen behavior like this before–a major, market moving event being overlooked in favor of breaking news from elsewhere. So it’s not entirely clear which way rates could move next week, except that it is reasonable to | more...

May 13, 2015

FHA Mortgage Loan Interest Rate Trends: Moving Higher

By Joe Wallace

In spite of some domestic economic developments that should be helping rates move lower (or at least preventing a move higher) mortgage loan rates are moving higher–to the point where some market watchers are using the phrase “highest of 2015” to describe where the rates have gone. Indeed, we’ve seen 30-year fixed rate conventional mortgage loan rates move up into the 4% zone, which is reported “best execution”. That means that outstanding financial qualifications are assumed including excellent FICO scores and loan repayment history. Borrowers with less-than-perfect credit are likely seeing rates above 4.0%. FHA mortgage loan rates are holding for now at 3.75% best execution according to our sources, and again, that is for extremely well-qualified borrowers. There is greater variation for FHA mortgage loan interest rates among lenders | more...

April 28, 2015

FHA Mortgage Rate Trends: Higher Ahead Of Fed Announcement

By Joe Wallace

Mortgage loan rates shot up to highs we haven’t seen in around a month–Tuesday rates pushed higher ahead of two important economic data releases on Wednesday that have potential to push mortgage loan rates in one direction or the other depending on investor reaction to the contents of those releases. Wednesday morning sees the release of numbers from the first quarter Gross Domestic Product report (in the morning) and an announcement from the Fed (in the afternoon). The Fed event will be watched carefully as markets will react to any news that indicates whether or not the Fed intends to raise interest rates. That would have an effect, depending on how investors respond to the information, of pressuring rates higher or giving them a chance to recover from today’s move | more...

November 26, 2014

FHA Mortgage Loan Interest Rate Trends

By Joe Wallace

FHA home loan interest rate trends this week include a fairly steady drop in mortgage rates, pushing conventional loans into sub-four percent territory in some cases and FHA mortgage rates down into a previously held comfort zone. Last week, 30-year fixed rate conventional mortgage loan rates were at a best execution average of 4.0 or higher, but the downward movement this week sent those best execution numbers to an at-or-sub-four percent range. There’s greater variation among conventional lenders this week and not all the improvements are offered by all financial institutions. What’s more, when it comes to FHA mortgage loan rates, at times we don’t see those rates changing as quickly as their conventional counterparts. But this week, FHA rates managed to react in the borrower’s favor. We are now | more...

September 26, 2014

FHA Mortgage Rate News For The Week of September 22 2014

By Joe Wallace

September has been a rough month for FHA mortgage loan rates–there’s been an upward trend fueled at least in part by the recent Fed policy statement, which many anticipated as a possible indicator of where rates might be headed (predicting investor reaction to an announcement that indicated a stronger or weaker economy). But this week, we saw rates moving lower–the best execution numbers haven’t really changed, but the downward trend is a welcome one. In many cases borrowers will see the lower moves reflected in closing costs rather than in actual lower interest rates, but if the downward movement continues we may well see FHA rates shift out of their current range of numbers and back into the lower best execution rate of 3.75%. The downward trend we saw this | more...