Everyone’s talking about record low mortgage rates. But how long can we expect the trend to continue?
Conventional wisdom says: when the economy is struggling, rates drop. Traditionally, a strong indicator of mortgage rates is the yield on 10-year Treasury bonds. When investors are skeptical about the economy, they flock to treasury bonds. As a result, 10-year Treasury yields fall, and so do mortgage rates. This is exactly the scenario we’ve been seeing in recent weeks.
But of course there are many factors to consider, and rates are more complicated than this simple rule would suggest. And while it’s difficult to make predictions, naturally people will try! In fact,
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Long, Mortgage Rates
People search for pledge rates on Google. That’s not news. They type in something like “Cincinnati mortgage rates” and then comb end the results in search of “today’s rate”.
Except Google doesn’t give rates. Google gives links.
Links to random websites or elaborate sieves meant to capture eyeballs and generate applications. The problem is, most people shopping for rates just want information — they don’t want to be sold something. Not yet, at least.
You can’t window shop for mortgages on Google
You can’t window shop Google for mortgage rates and it’s frustrating.
This is because searching for a mortgage isn’t like searching for a book. Read full post…
Mortgage Rates, Rates
While our economy is in a bit of turmoil, low mortgage rates are attracting homeowners to borrow on the equity of their homes to do home improvements, pay off credit card debts, or just go on a much needed holidays. You may want to refinance your current mortgage loan to lower your payments; your credit report can help you get lower mortgage rates.
If you regard been thinking about taking out a new mortgage or re-fi loan, now is the time to do it because of the low mortgage rates that are suitable now to qualified borrowers. If you want to make home improvements, or add on to your home, you will need to get estimates to what this will cost and then go to your lender and ask for a loan. By making home improvements y
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Low Mortgage, Low Mortgage Rates, Mortgage Rates, Rates
These are exciting times to be a mortgage blogger; rarely is there so much provender for posts! For example, in the last couple weeks, mortgage rates dropped to record lows across-the-board, and housing data indicated that the housing market is still in recovery mode. With both of these developments, one has to wonder whether they are sustainable?
Let’s begin with the mortgage rates story. According to the most recent Freddie Mac Primary Mortgage Market Survey, the average 30-year Fixed Rate Mortgage can be had for the jaw-droppingly low rate of 4.71%. The average rate for a 15-year fixed rate mortgage, meanwhile, is now only 4.27%. Both of these represent record lows. W
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Mortgage Rates, Rates