Good morning,
Rates are continuing their slow creep up and unless we see some major news negatively about Europe or some other ‘scary’ negative financial news, I’d expect this trend to slowly continue.
In the meantime, the World Series is on tonight and after being up the past couple nights with our little girl and her teething, I may be asleep before the game starts J
Rates are below, have a great week!
Rates: 30 year fixed at 4.125% and the 15 year at 3.375%, FHA: 3.75%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
Good morning,
Rates are creeping up from last week and I think this is a good time to go over an important point for those of you who watch the news or read articles online about interest rates. You will most likely see an article or news report in the next week talking about mortgage rates continuing to be at unprecedented lows. The issue comes in with the interest rate they are reporting compared to the interest rate that a borrower can actually receive on any given day.
Let me explain: Over the past 4 years of my blog I’ve tried to instill the fact that interest rates are in a constant state of flux, they can change daily, weekly or even hourly depending on the greater market. This is where the issue comes in with reports on mortgage interest rates, they are based on the average interest rate of closed loans in many cases. When a loan takes 30-60 days to close, these numbers are outdated by the time they are released.
I appreciate every one of my clients and business partners who put in the time and effort to keep up on where interest rates are trending but want to urge caution that when you do, please talk to an expert and take what you hear in the general media with a bowl full of salt.
Rates are below, have a great week!
Rates: 30 year fixed at 4.00% and the 15 year at 3.5%, FHA: 3.75%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
Good morning,
As expected, rates are holding steady. The technical signals that would generally help us achieve lower interest rates are where we would expect them to be but as we’ve seen time and time again in the past couple years, the emotional hurdle of global news stories somehow finds a way to shift investors minds.
Modest news in Europe seems to engage the stock market, taking money out of the safer havens like Mortgage Backed Securities.
Rates are below, have a great week!
Rates: 30 year fixed at 3.875% and the 15 year at 3.125%, FHA: 3.75%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
Good morning,
After the market update last week I was expecting to see that rates had risen. I would be mistaken. There was a great market change for the better last week but it came after the morning update and lasted for all of two days before things returned to the price points we saw last week. If you follow my facebook page (search for "Matt Royer, Mortgage Consultant") you already were aware of the huge change in rates.
As always the jump that instantly lowered interest rates by 1/4% was based on an emotional purchase reaction to Ben Bernanke's new economic plan being referred to as Operation Twist. The link as a great breakdown of what this plan is for the interested.
We should not see rates drift too much higher over the next month as a lot of speculation and purchasing has already been completed.
Rates are below, have a great week!
Rates: 30 year fixed at 3.875% and the 15 year at 3.125%, FHA: 3.75%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
Thanks
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
Good Morning and thank goodness we'll be back in the 70s this weekend. I don't mind the cooler weather but I also don't mind keeping some warm weather for a few months longer either.
So, rates are hanging out at unbelievable lows but we could see some volatility today when the Federal Bank releases their Monetary Policy Statement. There's been a lot of speculation going on with bonds and the mortgage backed security market based on what they expect the plan to be. Because of this many are expecting that the benefits to mortgage interest rates over the past week have already hit their best lows and that unless there is something surprising in this statement, we will see a sell off of mortgage backed securities and bonds, which would ultimately lead to interest rates rising again.
Only time will tell as usual, so stay tuned.
Rates are below, have a great week!
Rates: 30 year fixed at 3.875% and the 15 year at 3.125%, FHA: 3.75%: As always rates change with individual credit scenarios and programs, with credit in the mid 700s and a 20% down payment these rates are what you should be seeing.
Thanks
Matt
Matt Royer
Mortgage Consultant, CMC | Homes Mortgage
NMLS# 366970
612-232-7646 c
651-770-0637 o
651-294-1001 f
Mortgage Planner of 10 years, specifying in ensuring that home buyers both understand and enjoy the mortgage process, not worrying about last minute changes and closings not happening.
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