The National Association of Home Builders index of U.S. home builder sentiment rose to 58 in December, a stronger reading than the consensus expected.
Tag Archives | Mortgage Rates
Really great article in the New York Times last Friday about what Americans can expect in the upcoming year. Well, what they can expect when it comes to mortgages and home buying to be precise. Overall, the news is pretty good for home buyers, who can expect to get more home for their buck and lenders making getting a mortgage just a little easier as restrictions loosen.
According to the weekly Primary Mortgage Market Survey, those of you who took advantage of the low rates last week did so at the right time. This week, rates moved higher for the first time in three weeks.
Senate Democrats were three votes short of advancing the nomination of U.S. Congressman Mel Watt to head the agency that oversees the Fannie Mae and Freddie Mac mortgage groups. Read about this and more in this week’s Market Update.
Mortgage rates have three options: rise, drop or remain the same. After a few weeks of inching upward/remaining unchanged, rates took a dive this week – not just any dive, either.
Economists predicted that a government default would cause interest rates to rise because it would hurt the creditworthiness of the United States and increase the treasury’s cost of borrowing money. Since the interest rates on consumer loans are tied to the treasury rate, a default would cause all interest rates to rise, including mortgages.
While the weather can flip flop daily during the fall, mortgage rates can sometimes do the same. However, this wasn’t one of those weeks. In fact, there was barely even a change in mortgage rates.
It’s been a long time since rates have been this low. In fact, the last time 30-year fixed-rate mortgages were this low, the MLB season wasn’t even halfway over. To be exact, the last time 30-year fixed rates were this low was the week ending June 20, 2013.
The Fed’s announced they will not taper bond purchases yesterday, and mortgage rates fell quickly. The Primary Mortgage Market Survey shows how much they fell.
After weeks of ups and downs, the primary mortgage market survey shows us that rates have leveled out this week leaving those looking to purchase or refinance a small window of opportunity. Read all about it in this week’s PMMS report.