Home Mortgage Rates
real estate news
Home Mortgage Rates
There is some good real estate news out there, you just have to look hard to find it. Freddie Mac, that used to be quasi-government entity, that’s now 100% government owned, and loaded with what many believe are trillions in worthless mortgages, recently released a report showing that home mortgage interest rates have been steadily declining. Read more 
Home Mortgage Rates Near 40 Year Lows
home mortgage rates
Freddie Mac’s latest weekly report on the cost of financing a home purchase showed 30-year fixed-rate mortgages dropping from 4.69 percent to 4.58 percent, a new record in a data series that goes back almost 40 years.
Fifteen-year mortgage rates have been setting records for more than a month now, last week dropping from 4.13 percent to 4.04 percent.
San Diego attorney
Home Mortgage Rates Fall
home mortgage rates
Frank Nothaft, Freddie Mac vice president and chief economist said: “Rates for both the 30-year and 15-year fixed-rate mortgages were the lowest in six weeks; initial rates on 5/1 hybrid ARMs hit an all-time low since they were added to the survey in the beginning of 2005. The homebuyer tax credit helped support home sales in March, and anecdotal reports point to strong April sales as well. Pending existing home sales rose for the second consecutive month in March to the strongest pace since October 2009, just before the original deadline for the credit, based on figures published by the National Association of Realtors.”
Are Home Mortgage Rates About to Rise?
Home mortgage rate cut
Last week about the Federal Reserve continuing its policy of keeping interest rates low to stimulate the economy. Also, thirty-year fixed mortgage rates slipped below the five percent mark for the first time in nearly half a year, dipping to 4.9 percent and fifteen year fixed rates are just 4.4 percent. It looks like the low rates caused applications for new mortgages to jump by nearly 6 percent last week, according to the Mortgage Bankers Association.
According to the statement released by the Fed, in an effort to “provide support to mortgage lending and housing markets” they will “purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt.” Additionally, “they expect to gradually slow the pace of these purchases in order to promote a smooth transition.” Read more
Is The Worse Over For the US Economy?
Rising home mortgage rates, almost a full percent from their lows. Home foreclosures, still over 18% more than a year ago. Do you really think the US economy is at a bottom?
San Diego home listings
Mortgage Rates Moving Up
