What lies ahead for Mortgage Rates for San Jose Refinance and Home Purchase? And the dangers of following Media when it comes to Mortgage Rates for your Home Loan. Last week on 10/14 after Freddie Mac released its weekly survey of Fixed and ARM mortgage rates, media was abuzz with the news that interest rates have fallen to a level not seen since 1951. The very next day however, Mortgage Bonds went down 43 basis points causing the rates to worsen multiple times in a single day. That's the risk of following the…
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Mortgage Rates
It’s the season of Great Home Loan Rates for San Jose Homeowners
For San Jose homeowners, this summer has brought some of the best home loan rates on record. If you've been wondering whether you could benefit from today's low rate environment, read on. There are two programs that may help you. What about My Home's Value? Not only were San Jose home loan rates at their lowest in August, we also learned last month that home prices continued to climb nationally since reaching a bottom in the first quarter of 2009. According to the S&P/Case-Schiller Index, home prices in both their 10 and 20…
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Looking for a reason to Refinance – How about the lowest rates in 40 years!!
CNBC and Bankrate.com just reported that home loan rates are at their all time lows. Yes, all time lows! This is great news for anyone who has yet to refinance to take advantage of the lowest rates ever recorded, or to purchase that new home or investment property more affordably than ever before. Both 30 Year and 15 Year Fixed Rates clipped down to their lowest levels. All this is incredible as just months ago, many experts had anticipated that rates would be well above 5% this summer and on their way to…
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What’s keeping San Jose Mortgage Rates REALLY low?
Last week mortgage rates for San Jose homes eased back to the lowest level of the year. According to Freddie Mac's Primary Mortgage Market Survey 30-year fixed-rate mortgage (FRM) averaged 4.84 percent with an average 0.7 point for the week ending May 20, 2010, down from last week when it averaged 4.93 percent. The 5-year adjustable-rate mortgage (ARM) for San Jose home loans averaged 3.91 percent this week, with an average 0.6 point, down from last week when it averaged 3.95 percent. This breaks last week's record and, again, the 5-year ARM has…
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San Jose Mortgage Rate and Market Commentary
San Jose Mortgage Rate (30 Year Fixed and 5 Year ARM) and Market Commentary for the week of May 3rd, 2010. The week that was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 5.06 percent with an average 0.7 point for the week ending April 29, 2010, down slightly from last week when it averaged 5.07 percent. The 5-year adjustable-rate mortgage (ARM) averaged 4.00 percent this week, with an average 0.6 point, down from last week when it averaged 4.03 percent. "Mortgage rates on 30-year fixed loans…
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San Jose Mortgage Rate & Market Commentary
San Jose Mortgage Rate & Market commentary. Check out how the 30 year fixed mortgage rate and 5 year ARM rates did last week and how they are expected to fare this week. The week that was: Last week Freddie Mac in its Primary Mortgage Market Survey reported the 30-year fixed-rate mortgage averaged 5.07 percent with an average 0.6 point for the week ending April 15, 2010, down from last week when it averaged 5.21 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.08 percent this week, with an average 0.6 point,…
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What happens to mortgage rates; now that FED stopped buying it?
Mortgage rates were hammered last week after Fed officially stopped buying mortgage backed securities. Fannie Mae 30 year (4.5%) mortgage bond opened the week at 100.44, was down 97 bps for the week as it closed at 99.47 (see chart below). The mortgage rates for most of the programs had jumped up by .25%. These are ominous signs. If last week was any indication this is not going to be a slow rise in interest rates as a lot of experts had predicted. From what we have seen so far we are definitely…
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San Jose Mortgage Rates & Economy Weekly Update
Mortgage Rates update for San Jose and rest of California. The week that was: A bad one for the rate markets. Mortgage rates increased 12 basis points while the 10 yr note jumped 16 basis points. The chart below would tell you how volatile the mortgage rates were on Thursday and Friday. After weeks of being contained in a narrow choppy range the rate markets broke out to the upside in terms of yield. After nine months of very strong demand for US debt, investors are not as willing to buy unless US…
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Stimulus Deadlines Threaten Rates and Affordability; Act NOW!
The great author and speaker Og Mandino once said, "I will act now. I will act now. I will act now." This is great advice for prospective homebuyers over the next 45 days, as two key government programs that have kept home ownership more affordable than ever wind down to their completion. First, the Federal Reserve's Mortgage Backed Securities (MBS) purchase program will come to an end on March 31, just two weeks away! Without this program home loan rates could have been at least 1.00% higher...and potentially even higher...over the last year.…
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San Jose Mortgage Rate Weekly Update
Weekly update on San Jose Mortgage Rates and economy news. The Week That Was: Freddie Mac in its Primary Mortgage Market Survey reported that 30-year fixed-rate mortgage averaged 4.97 percent with an average 0.7 point for the week ending March 4, 2010. Last year at this time, the 30-year FRM averaged 5.15 percent. The 5-year adjustable-rate mortgage (ARM) averaged 4.11 percent this week, with an average 0.6 point, down from last week when it averaged 4.16 percent. A year ago, the 5-year ARM averaged 5.08 percent. Jan personal income was less than expected,…
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