Mortgages
Just when we thought mortgage interest rates couldn’t get any lower, they did. It looks like the European debt crisis is having a positive effect on US mortgage rates. It’s interesting how that works. Here are the results from last weeks Freddie Mac Survey: 30 Year Fixed: 3.87% 15 Year Fixed: 3.14% 5/1 ARM: 2.8% [...]
Continue reading about New Record Low Mortgage Rates: 3.87% 30 Year Fixed
Great news for Logan home buyers again, 30 year fixed mortgage rates are at their lowest rates ever. If you buy down some points, or get a really great lender, you can have an interest rate of less than 4%. And we though interest rates last week were good. “The average rate on [...]
I watch mortgage interest rates a lot. Over the past three weeks, they have gone down, and are really, really low right now. The 30 year fixed mortgage can be obtained for less than 4.5%. 15 year fixed mortgages are going for less than 3.75%. With interest rates this low, why would anyone want do [...]
Continue reading about Buying a Home With An ARM Might Be A Really Good Idea
The FHA or the Federal Housing Government is a government insurance company and operates under the United States Department of Housing and Urban Development (HUD) that finances mortgages and refinance loans of lenders. As part of the National Housing Act of 1934, its goals are: 1. Improve housing standards and conditions, 2. Provide an adequate [...]
With all the foreclosure activity we have seen since the housing market started slipping, mortgage insurance companies have really suffered. Mortgage insurance is essentially “foreclosure insurance” for banks. When a home buyer purchases a house with less than a 20% down payment, they are usually required to pay for a policy of mortgage insurance to [...]
Continue reading about Mortgage Insurance Changes Will Reduce The Amount Buyers Qualify For
Well, the mortgage interest news is the same as it’s been every week for the last few months. Interest rates are down, again. According to the latest Primary Mortgage Market Survey the averaged 30 year fixed mortgage rate dropped .06% to just 4.34%. The 15 year fixed mortgage hit a new low with an average [...]
Continue reading about Mortgage Rates Down, Again – But When Are They Going Up?
