July 9, 2020

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Articles Tagged With: Interest

Mortgage Loan Rate Trends

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...

 
Mortgage Loan Rate Trends

Mortgage Loan Interest Rate Trends: Higher Ahead of Fed Statement

Last week on Friday, rates moved higher. The week ended with 30-year fixed rate mortgages in a higher range between 3.625% and 3.75%, and FHA rates in their own new range between 3.25% and 3.5%. On Monday, things stayed more or less the same, though market watchers say it could be a difficult week due to a variety of factors including the Fed Statement due to be released on Wednesday. (The Fed meets on Tuesday, but releases a statement the following day.) That statement has great potential to move rates. According to a report by Marketwatch.com, the Fed is expected to keep the option for a June interest rate hike on the table. In the past any talk of rate hikes is enough to bring knee-jerk reactions by investors over | more...

 
Mortgage Loan Rate Trends

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...

 

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

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...

 

FHA Mortgage Loan Interest Rate Trends

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...

 

FHA Mortgage Rate Trends: Sideways

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...

 

FHA Mortgage Loan Rates: Post-Fed, Moving Lower

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...

 

FHA Mortgage Loan Interest Rates: Still Near 2015 Highs

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...

 

FHA Mortgage Loan Interest Rate Trends: Moving Higher

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...

 

FHA Mortgage Rate Trends: Higher Ahead Of Fed Announcement

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...