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Wednesday November 28, 2012
Pipeline Press - 10:19AM
In ancient days, when mortgage rates were different for various areas around the country and people relied on carbon paper and Fannie gold book amortization tables, mortgage volumes ...
MND NewsWire - 10:35AM
Despite a sizeable increase in consumer debt overall household debt fell by $74 billion in the third quarter of 2012, driven largely by a decrease in mortgage and home equity loan balances ...
Mortgage Rate Watch - 3:43PM
Mortgage rates began the day near their lowest levels since early October as bond markets stayed in strong territory on leftover Fiscal Cliff concerns from yesterday's session. But ...
MND NewsWire - 9:34AM
Mortgage application activity was down during the Thanksgiving holiday shortened week ended November 23. The Mortgage Bankers Association's (MBA's) Market Composite Index, a measure ...
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"@Anthony Behm, the study the author referenced was conducted by Stanford University and did indeed conclude that consumers who obtained at three quotes paid $1,000 less than those who got one, and people who got four quotes saved a median of about $1,300. A HUD study a few years ago reached a similar..."
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"The real problem (which the CFPB does not get) is that the average American consumer cannot understand the variances in mortgage products. Instead of trying to provide a one document tells all information sheet, what really needs to be done is to severely limit the types of mortgages that the average..."
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"That is some assumption, that obtaining multiple quotes saves money. I would like to see the proof. My lifelong clients and those they refer to me save time and money by coming to me and letting me do their loan. They know and trust me to give them the best value and I never let them down! i am a broker..."
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"I see this as another unintended negative consequence of regulation. The government removed incentives for loan officers to "steer" consumers into costlier loans....but they also elminated the incentive for originators to actively pursue less costly options as well. A classic case of thowing the baby..."
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"Duh! Did FNMA really need a study to conclude that higher income borrowers do more homework? How did they think those people were able to become high earners? The government made it easier with their constant tweeking and "simplifying" of TIL/GFE? Pleeeease...."
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Today's Rates
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30 Yr FRM
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3.37%
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-0.01
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15 Yr FRM
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2.75%
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+0.00
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FHA 30 Year Fixed
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3.25%
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+0.00
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Jumbo 30 Year Fixed
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3.57%
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-0.01
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5/1 Yr ARM
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3.01%
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+0.01
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Average Mortgage Rates
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15 Yr. Fixed
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3.03%
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0.86
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+0.06
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30 Yr. Fixed
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3.76%
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1.10
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+0.02
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30 Yr. Fixed
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3.53%
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0.40
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-0.01
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15 Yr. Fixed
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2.89%
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0.35
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+0.00
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30 Yr. Jumbo
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3.75%
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0.31
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-0.01
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30 Yr. FHA
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3.36%
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0.65
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+0.00
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5/1 ARM
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2.60%
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0.37
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-0.02
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30 Yr. Fixed
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3.31%
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0.70
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-0.03
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15 Yr. Fixed
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2.63%
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0.60
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-0.02
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1 Yr. ARM
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2.56%
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0.40
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+0.01
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5/1 Yr. ARM
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2.74%
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0.60
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+0.00
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* FHFA averages are updated monthly.
** Mortgage Bankers Association (each Wednesday) and Freddie Mac (each Thursday) averages are updated weekly.
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Secondary Markets
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30YR FNMA 3.0
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105-01
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-0-04
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30YR FNMA 3.5
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106-18
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-0-01
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30YR GNMA 3.0
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106-16
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-0-04
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30YR GNMA 3.5
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108-18
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-0-05
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15YR FNMA 3.0
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105-12
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-0-02
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15YR FNMA 2.5
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104-16
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-0-02
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2 YR
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0.2618%
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-0.0045
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5 YR
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0.6321%
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-0.0161
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10 YR
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1.6352%
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-0.0034
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30 YR
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2.8034%
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+0.0163
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Prices as of: 11/28/2012 4:31PM EST
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