The rates may not have been as prepared for the long climb up Mount Ratemore as they thought, because this week, the rates are still near the bottom (i.e. historic lows). Chances are they may rally and rise up again, though, so don’t get too comfortable. Word on the street is that they’re calling in the big guns to come and give them a boost. We’ll just have to watch and see what happens.
As an active duty service member, you’re probably aware that you’re eligible for a basic allowance for housing (BAH). But do you know that your BAH can be used to help you get a VA loan? Although it’s not specifically designed for mortgages, it’s incredibly helpful for anyone considering buying or refinancing a home by helping to defray the costs of a mortgage.
Mortgage rates remain unchanged from last week’s numbers, remaining near record lows, according to Freddie Mac’s weekly Primary Mortgage Market Survey.
Mortgage rates this week dipped slightly, with only the 30-year fixed mortgage rate holding strong to its spot from last week.
Can you imagine buying a mail-order home? “Impossible!” you shout. “Who would do something like that?” your friends ask, incredulous. Oh, but it’s true! Around the turn of the century, people looking for a new, “modern” home could just open up their good old Sears Modern Homes catalog, choose their dream home plan, and a short wait later, they would have a ready-to-assemble home kit delivered to their soon-to-be doorstep.
This week, mortgage rates have started their slow and steady climb and according to all reports, they show no sign of stopping.
Last week, we saw mortgage rates stop and take a breather on their climb up Rate Mountain. Well, this week, they stocked up on supplies, got their gear and rallied because, friends, those rates are climbing. In fact, the 30-year fixed is the highest it’s been since September, 2012.
While I may be a creature of habit, I don’t mind little fluctuations in my routine; it helps keeps things interesting. But for the most part, I like to minimize the amount of change I experience on a weekly basis.That’s why when I saw this morning’s Primary Mortgage Market Survey, I felt a bit of relief. Mortgage rates mostly remain unchanged from last week.
January is National Hobby Month! And you know what that means? It’s time to celebrate the majesty of this small, swift bird. The hobby is very similar to the falcon, but are often praised for their speed and aerial acrobatics…Wait. No. I’m sorry. Not that kind of hobby. The kind of hobby we’re celebrating this month is an activity that you do – that you enjoy – to pass the time.
According to the Primary Mortgage Market Survey report released this week, rates are starting to rise. By no means have you missed your opportunity to take advantage of low rates – they’re still pretty darn near to record lows – but the trend might be on the upswing, and I would be woefully remiss if I didn’t try to encourage you to get in while the gettin is good.