Mortgage rates go down to 3.58%
US Mortgage Real Estate News
United States — Friday, May 18, 2012 National mortgage rates on 30-year fixed mortgages fell 1 basis points from 3.59% to 3.58% on May 18, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.53% (GA, WY) to a high of 3.66% (UT). Compared to the week prior to May 18, 2012, the national 30-year mortgage rate is down 10 basis points from 3.68%. Compared to three months ago, the 30-year rate is down 11 basis points from its average rate of 3.69%.
Source: Latest National Mortgage Rate News
Mortgage rates go down to 3.59%
US Mortgage Real Estate News
United States — Monday, May 21, 2012 National mortgage rates on 30-year fixed mortgages fell 1 basis points from 3.60% to 3.59% on May 21, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.55% (GA, NJ) to a high of 3.69% (HI). Compared to the week prior to May 21, 2012, the national 30-year mortgage rate is down 2 basis points from 3.61%. Compared to three months ago, the 30-year rate is down 12 basis points from its average rate of 3.71%.
Source: Latest National Mortgage Rate News
Mortgage rates remain stable at 3.65%
US Mortgage Real Estate News
United States — Wednesday, May 23, 2012 National mortgage rates on 30-year fixed mortgages remained stable at 3.65% on May 23, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.59% (NJ) to a high of 3.77% (ND). Compared to the week prior to May 23, 2012, the national 30-year mortgage rate is up 4 basis points from 3.61%. Compared to three months ago, the 30-year rate is down 6 basis points from its average rate of 3.71%.
Source: Latest National Mortgage Rate News
Mortgage rates go up to 3.66%
US Mortgage Real Estate News
United States — Friday, May 25, 2012 National mortgage rates on 30-year fixed mortgages climbed 1 basis point from 3.65% to 3.66% on May 25, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.61% (DC, NJ) to a high of 3.77% (MT). Compared to the week prior to May 25, 2012, the national 30-year mortgage rate is up 5 basis points from 3.61%. Compared to three months ago, the 30-year rate is down 5 basis points from its average rate of 3.71%.
Source: Latest National Mortgage Rate News
Mortgage rates go up to 3.66%
US Mortgage Real Estate News
United States — Monday, May 28, 2012 National mortgage rates on 30-year fixed mortgages climbed 1 basis point from 3.65% to 3.66% on May 28, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.57% (ID) to a high of 3.83% (MI). Compared to the week prior to May 28, 2012, the national 30-year mortgage rate is up 3 basis points from 3.63%. Compared to three months ago, the 30-year rate is down 9 basis points from its average rate of 3.75%.
Source: Latest National Mortgage Rate News
Mortgage rates go down to 3.63%
US Mortgage Real Estate News
United States — Wednesday, May 30, 2012 National mortgage rates on 30-year fixed mortgages fell 1 basis points from 3.64% to 3.63% on May 30, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.51% (AK) to a high of 3.74% (WV). Compared to the week prior to May 30, 2012, the national 30-year mortgage rate remained stable at 3.63%. Compared to three months ago, the 30-year rate is down 12 basis points from its average rate of 3.75%.
Source: Latest National Mortgage Rate News
Mortgage rates go down to 3.54%
US Mortgage Real Estate News
United States — Friday, June 1, 2012 National mortgage rates on 30-year fixed mortgages fell 2 basis points from 3.56% to 3.54% on June 1, 2012, according to Zillow Mortgage Marketplace. As a comparison, state rates ranged from a low of 3.46% (AR) to a high of 3.63% (SD, WY). Compared to the week prior to June 1, 2012, the national 30-year mortgage rate is down 9 basis points from 3.63%. Compared to three months ago, the 30-year rate is down 21 basis points from its average rate of 3.75%.
Source: Latest National Mortgage Rate News
More Canadians locking into low interest rates.
An article in the Vancouver Province newspaper highlighted some changes going on in the Canadian mortgage market. People are slowly moving away from variable rate mortgages. At this time 29% of homeowners have variable rate mortgages but over time, they switch to fixed rates. Why? Interest rates are at all time lows, where will they be going? Up , of course.
Another interesting trend is how people are taking advantage of pre-payment privileges. 23% of mortgage holders are increasing their monthly payments, and 19% of making lump sum payments.
Is there an incentive behind this? Yes, every dollar that you pay down saves you $3. In interest over the term of the mortgage. Put down an extra $1000 from your Christmas bonus and save $3000.
Canadians have also been bombarded by news reports about how average household debt is increasing. This is how many people are reacting. Personally I think that you should start with your high interest debts.
Pay off your credit cards at 19% , follow that up with your car payments at 6-8% and then tackle your mortgage.
You may wonder where you can come up with the money. Well, it's the time of year when we all get our tax refunds. Instead of spending it on sometime we don't need why not spend it on paying down debt and saving huge amounts of interest. That can be very rewarding and gratifying.
Try it now and see how much more money you will have next year at this time. [..]