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Freddie Mac says mortgage rates fell to 3.94% this week. But, because closing costs increased at the same time, it would take a homeowner *3 years* to break-even on these new, "lower" rates. It's a sleight-of-hand trick pulled by the banks on the American people.
The newspaper is a bad place to research for mortgage rates -- conforming, FHA, USDA or otherwise. The rates are "not real" and based on lofty assumptions.
The government's revamped HARP program will create a surge in mortgage demand. Banks aren't equipped. Here's how you can beat the system and get lower rates.
Conforming mortgage rates went sub-4% this week? Well, that's not 100% true. Lender sleight-of-hand is making rates *appear* lower. But payments are way down.
Mortgage rates have "slowed down" lately, making it easier for home buyers and rate shoppers to compare rates between banks.
Freddie Mac reports the 30-year fixed at 4.09% this week. Freddie Mac is wrong. Mortgage rates are lower.
In 2011 -- for the same monthly payment -- you can borrow 77% more than you could in 1991. Buying a home is a relative bargain right now.
The 2011 Refi Boom's Second Wave has started. 5-Year ARMs are leading the charge. Assuming discount points are paid, ARMs are now below 3 percent.
Mortgage rates continue to change at a frenetic pace. If you're not locking your rate, you're losing your rate.
Since the financial crisis of 2008, the average weekly 30-year fixed rate mortgage and the 10-year Treasury note moved in the same direction by the same amount once. Once.
The FHA insures 25% of the mortgage purchase market these days, up from 5 percent in 2006. Is it because FHA mortgages are cheaper than conforming ones?
There is only one thing that controls where mortgage rates go next -- and it's not the 10-year treasury note.
Mortgage rates are changing at a blistering pace. If you're not locking your rate, you're losing your rate.
Since the start of June, mortgage rates are changing with alarming frequency. It's an all-time high for Mortgage Rate Velocity. You need to see these stats.
Mortgage rates have dropped for 8 straight weeks, signaling the start of a new Refi Boom. Don't watch this one pass. It won't last long. Exploit it while you can.
Paraphrasing Ferris Bueller, mortgage rates move fast. If you don't stop and look around once in a while, you might miss them. Mortgage rates changed every 4 hours, 12 minutes in May 2011.
In April 2011, lenders issued 1.70 rate sheets per day. This means that mortgage rates changed every 4 hours, 42 minutes on average. It's a slower rate of change from March, but still really, really fast.
Today's blog content is posted at Keith Gumbinger's HSH.com. HSH is a regular gig for me; an opportunity to write for a second, mortgage-hungry audience. This week's article is titled "Your mortgage rate is treated like auto insurance".
In March 2011, lenders issued 2.26 rate sheets per day. Mortgage rates changed each 3 hours, 32 minutes on average.
Mortgage Rate Velocity -- the speed at which mortgage rates change on a day-to-day basis -- is increasing. In February, mortgage rates changed every 3 hours, 16 minutes on average.
