It’s been a little while since we’ve posted an interest rate update. For the most part the news is still outstanding although rates have crept up just a little bit. According to Freddie Mac’s official press release this past week (Feb. 14th) the 30-year fixed-rate mortgage averaged 3.53% with an average 0.8 points. That number […]
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Pima Tucson Homebuyer’s Solution Program just may be the answer for buyer’s wanting to purchase a home in the Tucson area and needing down payment assistance. This program offers eligible candidates a 4% grant that may be used towards a down payment or closing costs. This grant does not have to be repaid unless there […] Pretty much every buyer shopping for homes has run across a yard sign or MLS entry that mentions a particular home being a HomePath property or available for HomePath Financing. What exactly does this mean for buyers though? HomePath is simply Fannie Mae’s program through which it resells properties it has foreclosed on. These properties […] The federal government’s third quantitative easing program, commonly referred to as QE3, was just announced last week by Federal Reserve Chairman Ben Bernanke. The rationale and a in-depth analysis of this policy is best suited for another forum, however, its impact should for those in the real estate market should be low interest rates for […] Earlier in the month some good news came out about mortgage delinquency rates in Arizona and California. Credit reporting agency TransUnion indicated that 6.14% of mortgage holders in Arizona were more than 60 days behind on the payments. This is a marked improvement from the year before when an additional 21% were similarly behind on […] When will the bottom hit? That’s question is probably more appropriate when talking about mortgage rates than home prices. Many locations throughout the US have likely seen the bottom of the market in terms of pricing, but the mortgage rates just keep dropping lower. Freddie Mac’s official release this past week indicated new records for […] It’s becoming commonplace to see interest rates hitting record lows and this past week was no different. Freddie Mac’s release indicates that the average 30-year fixed rate mortgage was just 3.67% last week with 0.7 points down from 3.75% the week prior. A year ago at this time the rate was 4.49% which is still […] It seems recently each new week brings along with it a record low interest rate on 30-year fixed rate loans. Freddie Mac reported that another record was set this week with the avearage 30-year FRM at 3.79% down from last week’s record of 3.83% Both week’s rates came along with an average 0.7 points for […] With interest rates having dropped to record lows and having been on the decline for the last several years, many homeowners are inclined to refinance their mortgages to achieve a lower monthly payment. While in many cases this can be an effective strategy, there are many points to consider before diving into the refinance process. […] Freddie Mac reported just today that the 30-year fixed rate mortgage dropped just below the previous record set last week. The average rate now sits at 3.83% down from 3.84%. While clearly just a minor drop it continues to show affordability is high and a home purchase with rates that low are even more attractive […] |
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