Sunday, April 1, 2012
Subject : Daily Update: Mortgage Rates Edge Closer To All-Time Lows
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Apr 30, 2012 3:54PM
Mortgages Rates are moderately improved to begin the week, taking them slightly lower than than April's best two days (4/10 and 4/23) and as close as they've been to all-time lows in several months. This further solidifies the Conventional 30yr Fixed Best-Execution Rate at 3.875%, which had recently shared the stage with 4.0%. Keep in mind that "best-execution" as we calculate it, connotes the no-closing-cost rate for the best-qualified borrowers in the most ideal scenario. ( read more about Best...
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Subject : Daily Update: Mortgage Rates Slightly Higher After FOMC Events
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Apr 25, 2012 3:35PM
Mortgages Rates are higher today, following the FOMC Announcement , Member Forecasts and Press Conference. The actual text of the Fed's announcement and the actual levels of it's future forecasts did not cause the move higher in rates. Rather, weaker market levels in the morning combined with the fact that those FOMC-related events held the potential to cause volatility caused initial rate sheets this morning to be a bit weaker than they otherwise would have been due to market levels alone. In other...
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Subject : Daily Update: Mortgage Rates Steady to Slightly Higher
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Apr 24, 2012 3:20PM
Mortgages Rates are unchanged in some cases and slightly higher in others. Overall, the difference between today's offerings and yesterday's is fairly minimal and is more likely to be seen in the form of slightly higher closing costs (or lower lender credit) as opposed to the interest rates themselves. Yesterday we noted that more an more lenders are able to offer 3.875% as a "Best Execution" rate for Conventional 30yr Fixed Loans. Best-Ex is currently shared by 3.875% and 4.0%. (read more about...
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Subject : Daily Update: Mortgage Rates Lowest Since February To Begin Potentially Volatile Week
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Apr 23, 2012 2:49PM
Mortgages Rates are back to their lowest levels since February. For an increasing number of lenders, current rates begin to shift the balance towards 3.875% as being the only Best-Execution Rate for Conventional 30yr Fixed Loans. Best-Ex is currently shared by 3.875% and 4.0%. In many cases, the actual interest rate quoted by lenders will be the same today as it was last week, with the improvements seen in the form of lower closing costs (or increased lender credit toward closing costs as the case...
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Subject : Daily Update: Mortgage Rates Slightly Improved; Continue to Hold Range
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Apr 19, 2012 2:58PM
Mortgages Rates continued to operate in the same range that has dominated the past three weeks although the closing costs associated with prevailing rates fell slightly. The net effect is that rates are very slightly lower , very close to the best offerings of the week. Depending on your point of view, recent trends in mortgage rates have been frustrating or fantastic. On the one hand, rates continue to operate very near all time lows. In fact, 3.875% is the lowest stable Best-Execution rate we've...
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Subject : Daily Update: Mortgage Rates Remain Stable, Bigger Threats in Week Ahead
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Apr 18, 2012 2:49PM
Mortgages Rates were flat to slightly improved today. Most lenders improved pricing by very small amounts while a few were slightly worse than yesterday. On average, rate offerings are in line with those seen yesterday and on Thursday of last week. Rates have been in great territory all week with the Best-Execution rate for 30yr Fixed Conventional remaining split between 3.875% and 4.0%. That means that lenders were widely able to offer 4.0% rates with no closing costs for well-qualified borrowers...
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Subject : Daily Update: Mortgage Rates Slightly Higher, But Still In Good Shape
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Apr 17, 2012 3:34PM
Mortgages Rates rose slightly today after hitting their lowest levels since late February yesterday. While that leaves yesterday and 4/10 as two best days for mortgage rates over the past month and a half, today's offerings are still better than those from the week ending 4/6. The net effect leaves the Best-Execution Rate for 30yr Fixed Conventional Loans between 4.0% and 3.875% depending on the scenario. This has been the case for almost two weeks now. (read more about Best-Execution calculations...
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Subject : Daily Update: Lowest Mortgage Rates Since Late February
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Apr 16, 2012 2:32PM
After closing out the previous week with slight gains Mortgages Rates have done the same to begin the current week. On average, this brings rates to their best levels since late February , however, rates were in similar territory on Tuesday 4/10. The late February levels in question contained all time mortgage rate lows. Any time we talk about "lows" or "best levels," it's important to keep in mind that we're constantly assessing BOTH the interest rates AND the costs associated with them. In actuality...
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Subject : Daily Update: Mortgage Rates Hold Ground Despite Market Weakness
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Apr 12, 2012 4:46PM
Mortgages Rates held their ground today and in many cases, carved out small improvements over yesterday's offerings. This keeps us in some of the best territory in recent months in terms of Best-Execution rates. However, t here continues to be a greater-than-normal variability between lender offerings. Some lenders are responding to market movements with bigger changes than others, and the outright levels can be quite different from one lender to the next. Despite that variability, rate sheets between...
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Subject : Daily Update: Mortgage Rates Hit Snag Following Recent Improvements
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Apr 11, 2012 4:43PM
Recent improvements in Mortgages Rates hit a snag today , and rose to fall roughly in line with Friday's levels. However, with the exception of the past 3 days, Friday's rate sheet offerings were the strongest since early March. There continues to be a greater-than-normal variability between lender offerings. Yesterday's rate sheets were strong enough for us to say the following: The Best-Execution Conventional 30yr Fixed Rate is probably best viewed as 3.875% for flawless scenarios, and 4.0% for...
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Subject : Daily Update: Mortgage Rates Inch Back Into Historically Low Territory
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Apr 10, 2012 3:33PM
Mortgages Rates improved again today , though some lenders' rates were little changed. This marks the second day of moderate improvement and consolidation after a strong move lower by most lenders on Friday. There's a greater-than-normal variability between lender offerings, but in general, mortgage rates are near their best levels of the month. The Best-Execution Conventional 30yr Fixed Rate is probably best viewed as 3.875% now for flawless scenarios, and 4.0% for many others. Financially, in terms...
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Subject : Daily Update: Mortgage Rates Stay Low After Friday's Solid Performance
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Apr 9, 2012 3:15PM
Mortgages Rates improved very slightly in most cases today, though some lenders' rates were unchanged. This follows a strong move lower by most lenders on Friday after a weaker-than-expected Jobs report. There's a greater-than-normal variability between lender offerings, but in general, mortgage rates are near their best levels of the month. The Best-Execution Conventional 30yr Fixed Rate is now in a transitional territory between 3.875% and 4.0% with the latter still constituting the best bang for...
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Subject : Daily Update: Mortgage Rates Improve Ahead of Important Jobs Report
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Apr 5, 2012 3:25PM
Mortgages Rates experienced some solid gains today given the relatively uneventful trading in the bond markets that influence them . This goes a long way toward making up for the relative lack of response to yesterday's market movements. We discussed this phenomenon in a bit more detail in yesterday's commentary (Read it here: Mortgage Rates Improve Only Slightly ) Despite today's improvements, The Best-Execution Conventional 30yr Fixed Rate clearly remains stuck at 4.0%. That means that today's...
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Subject : Daily Update: Mortgage Rates Improve Only Slightly After Rising Yesterday
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Apr 4, 2012 2:26PM
Mortgages Rates improved only moderately today despite a stronger bounce back in underlying bond markets. The Best-Execution Conventional 30yr Fixed Rate remains intact at 4.0%. That means that the borrowing costs associated with yesterday's rate offerings will be slightly lower Today vs yesterday, but still significantly higher than Monday. It continues to be the case that m ore than a few lenders will have issues hitting that 4.0% mark with a "no closing cost" loan after yesterday's sharp rise...
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Subject : Daily Update: Mortgage Rates Significantly Higher After Fed Meeting Minutes
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Apr 3, 2012 5:01PM
Mortgages Rates got crushed today, relatively speaking. It's ironic that we noted yesterday's rates as getting close to 3/13's levels because today's rates are turning out to be closer to 3/14's significantly worse levels. While the recently prevailing Conventional 30yr Fixed Best Execution Rate of 4.0% remains intact, costs to obtain that rate will be immensely higher today vs yesterday. More than a few lenders will have issues hitting that 4.0% mark with a "no closing cost" loan. (read more about...
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