Mortgage Rates
Inflation Jitters Push Up Mortgage Rates in Freddie Mac Weekly Survey
Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.23 percent, with an average 0.5 point, for the week ending February 2, 2006, up from last week's average of 6.12 percent. Last year at this time, the 30-year FRM averaged 5.63 percent.
Ref. Realtytimes.com/rtcpages/20060203_rates.htm
I just have been handed the opportunity to possibly get into a new house, and the interest rates go up. Its so frustrating to hear this news this close to an opportunity like this. But it is to be expected, inflation can not stay low for every and eventually, the rates were bound to go up. Its been a long run of low rates in the states. My parents just refinance their three year old house with a lower fixed rate mortgage. Looks like that was a good decision on their part.
An FHA loan is a good way to lock in a low rate these days. This is what I ended up financing. Yes, you get stuck with mortgage insurance, but you would expect to pay this anyway unless putting down 20% or more. I was able to lock in 5.75% for the first year, which helped me get into significant more home than a traditional mortgage would have allowed.
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MORTGAGE WOES: MORE TROUBLE FOR RETAILERS
Wal-Mart, Kmart, Target and big chains that cater to low-income consumers
could take a direct hit from the turmoil in the mortgage market, industry experts warned.
Ref. https://money.cnn.com/2007/03/15/news/compa...etail/index.htm
MORTGAGE RATE SOARS
Mortgage applications in the United States declined to a four-week low as the rate on one-year adjustable loans jumped by the most since the Mortgage Bankers Association began keeping records in 1996.
Ref. https://deseretnews.com/dn/view/1,1249,...05569,00.html
Long Term Mortgage Rates Continue To Fall
"Interest rates on conforming long-term fixed-rate mortgages declined slightly, while rates on one-year adjustable rate mortgages increased by about a quarter of a percent," said Frank Nothaft, Freddie Mac vice president and chief economist. "The increase in ARM rates is consistent with...
Ref. https://www.mortgagenewsdaily.com/NewsAlert...ws=598&sid=7671