When a consumer calls me for mortgage rates, 90% of the time they’re looking for a 30 year fixed mortgage. I can almost guess immediately what mortgage the customer is going to ask for before they finish their sentence. Let me start off by saying that I do not have anything against 30 year fixed loans. They [...]
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I just finished watching Spencer Rascoff’s interview on Bloomberg where he shared data with regard to mortgage rates and real estate values. LINK TO INTERVIEW HERE He felt that we won’t hit the floor for values until late 2010, but it varies by region. He gave an example, showing that Boston had hit it’s floor in early 2009 and [...] The two consecutive weeks, we’ve watched mortgage rates slowly work their way down after a nasty spike in rates last month. With weak economic data, signs of controlled inflation and talks of a new stimulus bill, investors have quietly moved more of their money in to Mortgage Backed Securities. [...] The 5% Fannie Mae coupon improved 72 basis points this week slowly gaining back some of the losses we’ve taken over the past month. For the first time since “Black Wednesday,” I locked several 30 year fixed loans at 5% including some FHA with a slight buy-down. Let’s hope rates continue to drop through next [...] I’ve posted a few blogs regarding how inflation relates to interest rates. I happened to come across a pretty good article that also covers this. ARTICLE LINK |
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