Archive for 'Interest Rates'
Interest Rates Predicted to Rise in 2010
Along with just about everything else like food prices, energy prices, and taxes, interest rates are predicted to rise to 6% by end of 2010. The end of the Federal Reserve program that buys mortgage-backed securities will drive rates higher because the private buyers will demand more return than the Fed.
It’s funny because those who [...]
Fannie Mae Changes
(This does not affect FHA or VA)
Fannie Mae is changing (for the worse) their underwriting guidelines for conventional loans this weekend. In order to be eligible for the current guidelines, borrowers need to have their loan, with a specific property, approved by Friday night. These changes will be implemented over the weekend. Below is a summary of some of [...]
Interest Rates Decrease
Interest rates are still looking good.
Product Rate +/- Last week
30 yr fixed 5.35% - 5.41%
15 yr fixed 4.78% [...]
Loan Shopping – 5 Tips for Home Buyers
Getting a great rate is sometimes all about luck. It happens when preparation meets opportunity. Some home buyers are wondering if they should have held out to get that lower rate. Don’t beat yourself up over a 1/4 point. Predicting interest rates is like predicting who is going to win the Superbowl in April. Frankly, [...]
Full StoryInterest Rates Drop
Interest on 30-year fixed mortgages, 15-year fixed loans, five-year adjustable-rate mortgages, and one-year ARMs all fell this week, according to Freddie Mac.
The average on 30-year financing slipped to 5.2 percent from 5.32 percent a week ago.
The 15-year mortgage declined to [...]
