Mortgage Rates Rise as Foreclosures Increase

The Federal Reserve announced that the average rate of a 30 year fixed rate mortgage rose to 5.38%, up from 5.17% the week before.  The average rate for a 15 year fixed rate mortgage is now at 4.71%, up from 4.6%. Real estate research firm Zillow reported on Tuesday that, while home values continue to fall, [...]

Refinancing Boom Ending

The recent run-up in mortgage rates has cooled the recent refinancing boom.   Refinancing applications fell 12% last week.  Mortgage applications fell 7.2%. Freddie Mac reports 30-year mortgages averaged 5.59% this week,  the highest since November 2008.  Adjustable rate mortgages rose to 5.04%. The Federal Reserve had been buying up Mortgage Backed Securities in order to [...]

Mortgage Rates Jump

Thirty-year fixed mortgages jumped to 5.45 % last week, up from a low of 4.85 % in April and threatening to derail any economic recovery.   The yield on10-year Treasury notes jumped to 3.9% last week as inflation leary investors demanded higher yields. In March, the Fed pledged to use up to $1.25 trillion to buy [...]

Freddie Mac Chief Says Mortgage Rates Near Bottom

John Koskinen, Freddie Mac’s interim CEO, said that mortgage rates are near their bottom on friday.   Any further rate decreases will be small. Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed mortgages averaged 4.85 % for the week, down drom 4.98 % the week before and 5.85 % last year at this time.  [...]

Federal Reserve Move Lowers Mortgage Rates Below 5%

The Federal Reserve will increase its purchases of mortgage-backed securities this year by $750 billion.  This is on top of the $500 billion promised between January and June.  Market watchers expect the move to drive down mortgage rates in coming weeks. Mortgage rates are already at near-record lows. Nationally, the average 30-year fixed mortgage was [...]

30 Year Mortgage Rates Fall Below 5%

For the first time ever, Freddie Mac’s weekly rate survey show 30-year mortgage rates averaging less than 5%.  30-year rates fell for the eleventh straight week to 4.96%, down from from 5.01% a week ago.  A year ago the rate was 5.69%. 15-year fixed rate mortgages, a popular choice for refinancing, rose to 4.65%, up [...]

« Previous Page — Next Page »

• Recent Posts

  • Tax Credit Helps Homes Sales Increase
  • Baltimore Sues Wells Fargo, NAACP Backs Off
  • Qualifying For The New Foreclosure Relief Program
  • Foreclosure Prevention Program, Fixer Upper Or Turn Key Ready?
  • Financial Reform Building Momentum

• Sponsored by

• Archives

  • 2010
  • 2009
  • 2008

• Blogroll

  • Debt Consolidation Solutions