Another record low has been reached this week as Freddie Mac reports that 30-year fixed rate mortgage loans averaged just 3.84%. This is down from 3.88% and marks the lowest number on record. The drop in large part was achieved in a run towards bonds by investors who were seeking safety on renewed concenrs regarding […]
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Freddie Mac’s official release last week shows mortgage rates holding steady. The 30-year fixed rate mortgage averaged 3.98% (with an average 0.7 points) which is down fractionally from 3.99% the week prior and still substantially lower than this time last year when the FRM averaged 4.87%. The 15-year FRM settled at 3.21% (0.7 points) on […] One of the factors that has made today an excellent time to buy a home has been the extremely low interest rates. Clearly this won’t last forever and as the economy continues its recovery the Fed will certainly raise interest rates once a solid foundation takes hold. This last week’s interest rate rise is certainly […] Interest rates continue to stay EXTREMELY low! At the end of this past week rates for 30-year fixed rate mortgage were 3.99% with an average of 0.7 points according to Freddie Mac. By comparison last year at this time the interest rate on the same product was a still very attractive 4.61%. Even lower rates […] This afternoon the Federal Reserve has forecast a weak economy for at least the next two years and indicated they’d therefore keep rates at record low levels at least until mid-2013. With economic growth being much slower than expected and with flat household spending, the immediate outlook is lukewarm at best. For potential buyers in […] While off of year lows, mortgage rates are generally holding steady this past week. According to Freddie Mac the average 30-year fixed rate mortgage was 4.55% this past week with an average of 0.8 points, only up slightly over last week’s 4.52%. Meanwhile 15-year fixed rate mortgages stayed steady at 3.66% with an average 0.7 […] Even as housing costs have come down over the last few years throughout most of the country the amount of money paid in closing costs has increased by 8.8%. Nationwide the average closing costs for origination and title fees on a $200,000 purchase mortgage totaled $4,070 which is up from 2010’s average of $3,741. So […] According to Freddie Mac’s Primary Mortgage Market Survey, rates on 30-year fixed mortgages remained unchanged from the previous week at 4.50% and averaged 0.8 points. Rates have continued to hold relatively steady for quite awhile now, as last year at this time the 30-year fixed rate averaged 4.69%. The 15-year fixed rate mortgage average edged […] HUD has developed a new FHA insured mortgage program, called the “Streamline 203k” Limited Repair Program that permits homebuyers to finance up to an additional $35,000 of repairs into their mortgage to purchase and improve or upgrade the home before move-in or to refinance an existing mortgage and add up to $35,000 in repairs or […] Q: What are the basic eligibility requirements for FHA financing? A: FHA insures mortgages made by approved lenders to individuals and non-profit and government agencies that are approved to participate in HUD’s programs; HUD does not loan money to homebuyers. Generally, to be eligible for an FHA loan, you must have a valid social security […] |
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