Archive | Mortgage Updates and Changes

I was thinking about rattling off a bunch of things that I’m thankful for, and while I do have plenty in my life to be thankful about, I feel that’s getting overdone. Maybe overdone like how my mom’s turkey will probably turn out tomorrow? Regardless of how my Thanksgiving meal is going to be tomorrow, and I’m sure it will be delicious, one thing is for certain: the nationwide average for mortgage rates has never been lower in the history of the modern mortgage according to Freddie Mac’s weekly Primary Mortgage Market Survey.

After tiptoeing the record line for the past six weeks, mortgage rates set a new record low this week. Credit it to whatever you want: President Obama winning the election, Jay Cutler getting concussed, or Thanksgiving coming around the corner. The fact of the matter is that the nationwide average for mortgage rates across the country has never been lower according to Freddie Mac’s weekly Primary Mortgage Market Survey.

Do you wake up every morning and feverishly check Freddie Mac’s website around 10:00 a.m. ET to see what happens with the nationwide average for mortgage rates like I do? I was asking some team members about that, and they’re convinced that I’m the only one in the country that does it – but I say nay. You could just head over here every Thursday to see my world-renowned analysis of Freddie Mac’s weekly Primary Mortgage Market Survey.

Up, then down. North, then south. Higher, then lower. These opposites can be applicable to many things in life. The temperature in Michigan. My daily blood pressure. More relatable, however, is that these terms perfectly describe what has been going on with the nationwide average for mortgage rates according to Freddie Mac’s weekly Primary Mortgage Market Survey.

It’s Thursday afternoon, so you know what that means – it’s time for this week’s expert and genius analysis of Freddie Mac’s weekly Primary Mortgage Market Survey. On a scale of one to elementary school student finding out that there’s a snow day, I’m sure you’re probably sitting toward the latter. What happened to our lovely mortgage rates this week? Is this week a better time to refinance than last week? Who knows? You’ll never know until you read on, so let’s take a look at this week’s numbers for nationwide averages.

Most homebuyers seem to flock to the 30-year fixed-rate mortgage, but what about those homebuyers who don’t plan on staying in their home for that long? That’s where the 15-year fixed-rate mortgage comes in to play, and the good news is that according to Freddie Mac’s weekly Primary Mortgage Market Survey, the nationwide average for a 15-year fixed-rate mortgage has never been lower.