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With gas prices rising, mortgage rates for all loan types -- FHA, conventional, USDA, VA and jumbo -- should rise over the next few days.
The Federal Reserve is now setting explicit "target rates" for inflation. Inflation targeting will change how you shop for mortgages.
The Fed says the Fed Funds Rate will stay near zero through 2014. They neglected to say the same for mortgage rates. Here's what to expect.
Mortgage rates are low because of 4 forces, each in place since 2009. Today, those forces fade into history. When they're gone, so will low mortgage rates. Read why mortgage rates are positioned to rise, and rise sharply.
I made a lot of mortgage charts in 2011, covering rates, costs, and new programs. Here is a collection of the best of them.
Need a mortgage rate prediction? I participate in the Bankrate.com Mortgage Rate Trend Index. This week's survey tells you whether to lock or float your rate.
Last year, a sagging, slowing U.S. economy is one reason why mortgage rates were so low. As those conditions reverse, it follows that mortgage rates should reverse, too. And they are.
The Federal Open Market Committee voted to leave the Fed Funds Rate unchanged within its current target range of 0.000-0.250 percent. But it also foreshadowed new stimulus -- which would be awful for mortgage rates long-term.
Looking for a mortgage rate prediction? I am a voting member in the Bankrate.com Mortgage Rate Trend Index. This week's survey should give you good guidance.
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 "Why the Fed has little control over mortgage rates".
Inflation is a self-reinforcing cycle. The longer it lasts, the more insidious its effects, and mortgage rates are an unfortunate consequence.
Mortgage rates are getting slaughtered this month; rising every day since January ended. It's an historic losing streak for conventional mortgage rates.
As compared to November, mortgage rates are up. As compared to history, however, mortgage rates remain low. That likely won't stick. Not with the Federal Reserve planning for economic growth.
Today, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent. Mortgage rates are rising.
I can't help but think that the market looks a lot like May 2009. Inflation fears took rates up 1.125% in 10 days back then.
The Federal Open Market Committee called economic growth "disappointingly slow" and pledged another $600 billion to bond markets. Mortgage markets expected more; rates are slowly rising.
The government rounds inflation figures to one decimal point when it releases its data -- an imprecise way of reporting precise information. It's helping to keep mortgage rates artificially low.
According to Google, "deflation" chatter is growing. It's extending the Refi Boom for another few weeks.
There were no surprises in the Fed’s statement so, as a result, the mortgage market's reaction to the release has been neutral. Mortgage rates in Ohio are thus far unchanged this afternoon.
The Fed is keeping the Fed Funds Rate in its target range of 0.000-0.250 and has closed all but one of its emergency liquidity programs. Get the breakdown of the Fed's statement and what it means to mortgage rates.
The Federal Open Market Committee starts a 2-day meeting today, one of 8 scheduled meetings for the year. Bernanke & Co. are expected to leave the Fed Fund Rates unchanged after the meeting, but that doesn't mean mortgage rates will be unchanged, too. Au contraire, mortgage rates will be all over the place.
"While gas prices rise, so will mortgage rates. Get locked ASAP."
Mortgage markets improved yesterday after the Federal Reserve released its March 16, 2010 meeting minutes. It's good news for Cincinnati home buyers and rate shoppers -- rates could have just as easily gone the other way.
Mortgage rates tend to climb with the mercury. It's been the case in each of the last 3 years. As spring months turn into summer, the average 30-year fixed mortgage rate rises. This year should be no different.
Need a mortgage rate prediction? I am a regular participant in the Bankrate.com Mortgage Rate Trend survey and this week's survey may help you. I predict mortgage rates to fall in the next 7 days.
With consumer confidence on the mend, net job gains nearing zero, and Retail Sales rebounding, Wall Street had bid up mortgage rates this month. Mostly, the trading was just jockeying for position ahead of the December 15-16 FOMC meeting. Investors were worried that the Fed would blink; that it would change its economic outlook for 2010 and have to start raising the Fed Funds Rate sooner than forecast; that inflation fears would return. Instead, none of that happened.
A brief recap of the Federal Open Market Committee's December 16, 2009 statement and what it means for mortgage rates, homeowners, and the economy.
Lately, mortgage bonds have been trading at unsustainable levels. Despite a growing mound of evidence that the economy is expanding and what looks to be an over-supply of treasury debt, mortgage-backed securities are priced as high as they've been since May. It's unnatural, really; a hedge against a stock market flop. Or something else. But forget about why rates are low -- low rates are about to end.
Thursday, Freddie Mac published its weekly mortgage market survey. The report showed mortgage rates sub-5 percent, trolling near all-time lows. Versus October 2008, 30-year fixed mortgages are down 1.07%. The press was eager to report this story -- mostly because anytime mortgage rates below 5.000 percent, it makes for good copy. But, for rate shoppers in Cincinnati and Chicago, by the time Friday's business section was delivered, the Freddie Mac survey was already out-of-date.
