As of (yesterday), you'd have to go back 3 full years to see rate sheets any lower, on average. May 10th, 2013 was a very bumpy day for rates, and it capped a week that served as the starting point for the 'taper tantrum' (several months of rapidly increasing rates as...
Mortgage rates sure are cooperating with the peak selling season! Let's hope the economy stays alive, and the political circus doesn't get any worse. From MND who quotes rates with zero-points: Part of the recent move lower in rates is due to anticipation of just...
We survived the Fed hike. Last Monday, the 30Y rate was 3.98%. The Fed made it official on Wednesday, and the 30Y rate initially jumped about 20 basis points. But by Friday afternoon we were back down to 4.02%. This guy thinks the Fed move was a mistake:...
The Fed made their move....finally! Here's a good explanation from MND: Mortgage rates moved just slightly lower today, despite the long-awaited Fed rate hike. Once again, that's LOWER mortgage rates and a HIGHER Fed rate. Here's how that works: The rate that moved...
Lately, the number of weekly new pendings has been higher than last year, and a little under those in 2013 - I'll take it. All eyes will be on the Fed's likely bump of the fed-funds rate on Wednesday, but it should already be priced into the current mortgage rates. ...
There are still doomers who insist the housing bubble is ready to burst. But this report coincides with what I see on the street - home buyers are in good shape, and probably aren't going to bail out if appreciation stops. In Q315, the average FICO for purchase loans...
These guys are confident the Fed won't be raising rates for a while - one says it won't be until 2020. In the meantime, 30-year jumbo fixed rates are back into the mid-3s (WFB advertising 3.625%, APR 3.641%), creating an ideal selling season when you'd least expect it!
Dropping mortgage rates are likely to keep buyers interested - and maybe pay a little more to get it done? Jumbo 30Y rates can be had in the mid-3s! From MND: http://www.mortgagenewsdaily.com/consumer_rates/515770.aspx Mortgage rates had another great day, with most...
It's happened before - rates go down in spite of Fed. Thanks daytrip:
I saw these questions from Ed DeMarco on Twitter. My answers: 1. Have the M.I.D. apply towards primary residence only (not second homes), and lower from $1,000,000 to $500,000. Those buying in hopes of a bigger write off will still buy a house, and take the partial...
