Mortgage Rate Watch : consumer price index

Mortgage Rates Hold Near Six Month Lows. Still Locking Loans

Victor Burek — Wed, 18 Nov 2009 18:29:35 GMT

Reports from fellow mortgage professionals indicates that rates are unchanged from yesterday. This keeps the par 30 year conventional rate mortgage in the 4.625% to 4.875% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are seeking to access equity in your home, you should expect either higher closing costs or a higher interest rate. Is everybody that is closing in the next 30 days locked yet? ...(read more)

Mortgage Rates Hold Near Aggressive Levels. Still Advise Locking

Victor Burek — Mon, 16 Nov 2009 15:27:57 GMT

Reports from fellow mortgage professionals indicate mortgage rates are holding steady, near last week's aggressive closing levels. The par 30 year conventional rate mortgage remains in the 4.625% to 4.875% range for well qualified consumers. To secure a par interest rate you must have a FICO credit score of 740 or higher, a loan to value at 80% or less and pay all closing costs including an estimated one point loan origination/discount/broker fee. If you are seeking a 15 year term, you should expect a par rate in the 4.25% to 4.50% range with similar costs. ...(read more)

Mortgage Rates Continue to Move Lower as Investor Sentiment Changes

Victor Burek — Wed, 17 Jun 2009 12:38:00 GMT

It seems that market particapants have fallen back in love with fixed income. Mortgage backed securities and treasuries each posted a healthy rally yesterday. MBS improved by another 50 basis points which allowed all lenders to reissue new rate sheets after the gains held through close. Helping to promote fixed income is changing investor sentiment regarding inflation, demand for US debt, and prospects for economic recovery. We did receive 3 pieces of economic data on Tuesday, of which 2 were favorable...(read more)