Tag Archives: Bankrate

Two separate industry reports released Thursday show that mortgage interest rates across the board retreated this week, beginning the new year slightly lower than levels seen at the end of 2010, and still well below where they sat at the beginning of last year. Freddie Mac says the downward movement, however slight, ""should help aid the recovery in the housing market."" However, Bankrate warns that if Friday's jobs report proves positive, it could push mortgage rates higher.

Mortgage interest rates began to climb again last week, after falling the week prior for the first time in more than a month. Freddie Mac says the results of its latest survey reveal increasing mortgage rates for all loan products included in the study except the 1-year adjustable-rate mortgage (ARM). Rates across the board climbed higher in a separate study released by Bankrate. More than half of the industry experts surveyed by Bankrate believe mortgage rates will continue to rise.

Long-term fixed mortgage interest rates fell back this week, breaking a six-week streak of steep increases. Data released by Freddie Mac Thursday showed rates for 30-year fixed-rate mortgages averaging 4.81 percent, and 15-year rates at 4.15 percent. A separate study by Bankrate also showed declines for most loan products - all except for the larger jumbo 30-year fixed rate, which inched higher to 5.59 percent. Bankrate expects continued economic improvement to push mortgage rates higher as the new year unfolds.

Borrowing costs on home loans continue to increase, with mortgage rates rising sharply for the past five weeks in a row. New data from Freddie Mac shows that the average rate for a 30-year mortgage jumped 22 basis points over the last seven days to 4.83 percent. The 15-year rate climbed 21 basis points to 4.17 percent. A separate study by Bankrate shows that the average 30-year rate offered by the top 10 banks and thrifts in the top 10 U.S. markets already hit the 5 percent mark this week.

Mortgage interest rates rose again this week, marking the fourth consecutive increase. Freddie Mac says the average rate on a 30-year fixed mortgage has jumped to 4.61 percent, up from 4.46 percent just one week earlier. If such sharp increments continue at this pace, the 30-year rate could rise above where it was a full year ago (4.81 percent) in a matter of mere weeks. For a $200,000 conventional loan, the sudden rise amounts to $50 more in monthly payments than if buyers had locked in rates just two months ago.

They've been sitting at half-century lows for months now, but that trend appears to have snapped as mortgage interest rates across the board rose again this week. One industry report points out that long-term rates have been heading upward for three weeks straight; another says they've now hit a four-month high. Freddie Mac puts the average 30-year rate at 4.46 percent and the 15-year rate at 3.81 percent. Bankrate says the larger jumbo 30-year fixed rate jumped as well, settling at 5.29 percent.

Freddie Mac reported Wednesday that mortgage rates remained stable this week, rising only slightly from the rates reported last week. A separate study from Bankrate reports rates dipped slightly this week. This week's Freddie survey shows 30-year-fixed-rate-mortgages averaging at 4.40 percent. Bankrate's study puts them at 4.58 percent.

Mortgage applications for home purchases jumped during the third week of November to their highest level since May. The Mortgage Bankers Association (MBA) reported Wednesday that its index of purchase applications soared 14.4 percent for the week ending November 19th. MBA says the increase suggests growing consumer confidence. It offset a 1.0 percent decline in applications for mortgage refinancing, which in contrast, hit their lowest mark since the end of June.

Mortgage interest rates rose dramatically this week, after lingering around half-century lows for months. The upsurge comes just two weeks after the Federal Reserve announced plans to purchase another $600 billion in Treasury securities, a move that is meant to hold interest rates down. Rates are still extremely low by historical standards, but the sharp increases seen in just one week's time - long-term rates jumped by about 20 basis points in two separate industry studies - serve as an abrupt reminder that trends can reverse on a dime.

Interest rates on home loans sunk to new lows this week, according to figures released by Freddie Mac Thursday. The GSE surveyed 125 lenders across the country and found that rates on 30-year mortgages are now averaging 4.17 percent, while the average rate for 15-year loans dropped to 3.57 percent. The GSE's chief economist expressed concern that although rates are at their lowest level in more than a half century, they've done little to pull would-be buyers from the sidelines as the housing recovery continues to slow.