California 30 Year Fixed Mortgage Rates Climb For Third Consecutive Week

According to Mortgage Bankers Association (MBA) weekly survey, California mortgage rates increased again last week. The rates have now increased for five out of last six weeks. This is the third consecutive week that 30 year fixed rates have gone up. Overall the rates have gone up by .25% after hitting the lowest levels in November, 2012. Conforming, High-Balance and FHA 30 Year Fixed Rates The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.62 percent from 3.61 percent, with points increasing to 0.43…
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How to De-mystify Mortgage Rate and Become a Better Rate Shopper

Shopping for the best Mortgage rate possible has always been the primary objective when borrowing a home loan. As well it should be! The challenge with this strategy is that there is much misleading information released on the subject by various media. Internet websites and email marketing, along with other media such as radio, television, and billboard advertising, have brought the importance of interest rates to the forefront of consumers' minds. Bait and Switch Technique The problem with this type of marketing is that it is designed to make the lender's phone ring.…
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California Mortgage Rates jump to their highest levels since August

Last week I was asked several times about Mortgage Rates, The Trends and my Predictions of where it was moving. All this I guess was triggered by the Freddie Mac Primary Mortgage Market Survey, which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) rose dramatically last week, as did the 5-year ARM. Per Freddie Mac California 30-year fixed-rate mortgage (FRM) averaged 4.39 percent with an average 0.9 point for the week ending November 18, 2010, up from last week when it averaged 4.17 percent. California 15-year Fixed Rate Mortgage this…
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