This week 15-year fixed-rate mortgages and 5-year adjustable rate mortgages dropped to record lows. How low you ask? Read this week's PMMS report to find out.
Great article today from FOX Business about PMI (private mortgage insurance) and some very easy ways to avoid or eliminate it. That's good, because paying PMI can seem like throwing money down the drain. Often around $100 a month or so.
Welcome to the last Primary Mortgage Market Survey of the year. And fortunately for all you rate watchers, it ends on a good note! 30-year fixed rates drop this week, landing near record lows!
Greek philosopher Heraclitus once said "the only constant is change." As much as we would like things to remain the same – our babies to stay little, our waistlines to stay small, our mortgage rates to remain low – they never do, or will. This week's Primary Mortgage Market Survey is out and rates are both higher and lower than last week. It just goes to show how quickly these crazy low rates can change. If you're not refinancing into a lower rate, you may miss out on your opportunity. There is never going to be a better time, because tomorrow never comes.
There are only a handful of things that can be measured in "record lows" - temperature, birth rates, sea ice...um...oh, mortgage rates! Of course! And this week, my friends, mortgage rates dropped! It wasn't a dramatic drop by any means, but a drop is a drop and that means more money in your pocket. What are you waiting for?
Quicken Loans Chairman and Founder Dan Gilbert was a guest host today on CNBC's Squawk Box. It's was an interesting two-hour segment, featuring discussions on the dreaded Fiscal Cliff (and how it could affect mortgage rates - can you say "go up?"), Dodd Frank legislation to regulate the mortgage industry, and the housing industry in general.
Mortgage rates took a slight increase this week according to the Primary Mortgage Market Survey from Freddie Mac. Refinance to a lower rate and save today.
Do you remember when Al Roker took over for Willard Scott as the Today Show's weatherman? The whole world was in a tizzy, because everyone loved Willard Scott! Well, that's a little bit how I feel right now, coming in on my man Mally's turf. He's a pro at this Primary Mortgage Market Survey stuff. I have some very big shoes to fill, I know. I hope I can win you rate lovers over. I'll do my best.
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.