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     What Makes Peak Home Loans Different From All Other Mortgage Broker Companies?  First, we're experts in helping those with less-than-perfect credit.  That makes sense to us because who doesn't have a credit issue or two?  Second, we asked ourselves...  Why Can't We Specialize in Getting Mortgage Applicants Without Perfect Credit Approved?  And Why Can't We Get Them the Same Great Rates and Terms as Those With Great Credit?  Well since 2004, that's be our sole mission.  And we've finally put the final pieces of the puzzle in place for you.  We just assembled the ultimate state-of-the-art home lending network in the United States.  This guarantees everyone the lowest rate and best terms regardless of their credit history.

     We are rated A+, "Highest", by the .  That means our network of lenders will provide a fair and fast, hassle-free mortgage with easy approval for those with all credit histories.  So, get approved now!  We work around less-than-perfect credit and reward those with good credit.  Get the best deal you can, whether through us or somewhere else, but at least compare our offer.  We get done what others cannot.  And "we beat other guy's rate... every time".  Get Instant Online Quotes - Save Time & Money - You Have Nothing to Lose.  This is a Free, No-Obligation Service.  We Promise to Make Your Next Mortgage "Easy".

Today's Mortgage News Brought To You By Peak Home Loans
Friday, October 09, 2015 (updated daily)

Mortgage Refinance & Home Purchase Rates Very Much Unchanged

     Mortgage rates remained level this week in spite of global market concerns re-surfacing and government bond yields moving down. The housing market's recovery is slowing as far as sales go, but home prices are moving higher.  Latest reports show sales of existing homes fell from a seasonally-adjusted annual rate of 5,580,000 in July to 5,310,000 in August, a 4.8% decrease.  Also released this week was the Federal Housing Finance Agency's (FHFA) monthly house price index.  Home prices rose 0.6% on a seasonally-adjusted basis from June to July.  On another note, U.S. Treasury rates continued falling this week following the FED's US government bonds; and with bonds, as demand / price increase, their yield / rates fall.  And we know mortgage rates follow Treasury bond rates (yields).

     Mortgage applications jumped 14% last week compared with the prior week, according to the Mortgage Bankers Association's (MBA) weekly survey.  Home purchases were up 9% and refinance mortgages soared by a healthy 18%.  It's common to see an increase in home mortgage refinances this time of the year due to the lower home mortgage rates.  But these low rates may not be around for long, volatility is always just around the corner.  These recent events put today's average 30-year fixed-rate conventional loan at 3.85%, down only 1 basis point from last week.  It may be wise to lock in your rate now (rather than floating) and refinance your mortgage, or buy a new home now, thus avoiding any rate increase that would cause your monthly payments to go up in the future.

For The Week Ending Friday, October 09, 2015:

  • Thirty-year fixed-rate-mortgages (FRM's) averaged 3.85% with 0.60 discount and origination points.  That's down 1 basis point from a week ago.  At this time one week ago, the thirty-year FRM was approximately 3.86%, one year ago 4.19. Today, your average payment on a $100k mortgage would be $469.15 per month, plus taxes and insurance.
  • Fifteen-year fixed-rate-mortgages (FRM's) are 3.07% for the week.  That's down 1 basis point from a week ago, a year ago the rate was 3.36%.  Your monthly payment on a $100k refinance or new mortgage over 15 years would be $694.14, not including insurance and taxes.
  • Five-year adjustable-rate-mortgages (ARM's) averaged 2.91%.  That is even from the same time a week ago when they were 2.91%, a year ago 3.06%.  For example, your monthly payment on a $100,000.00 new home loan or mortgage refinance over the first 5 years would be $416.95 principal and interest only, homeowners insurance and property taxes will be added.

Home Mortgage Interest Rate Trend Prediction For The Upcoming Week:

     According to a survey of our home loan experts, for the upcoming week, Friday, October 09, 2015 to Thursday, October 15, 2015, 19 percent believe home loan and refinance mortgage rates will rise over the next week, 24 percent think mortgage and refinance rates will fall, and 57 percent believe mortgage rates will remain relatively unchanged (+/- 2 basis points).  Survey results are provided weekly.  Please come back often to see how accurate the experts fared.  Last week, interest rates were down 1 basis point (relatively unchanged) and 62 percent picked correctly.  As you can see, mortgage experts believe rates might fall again this coming week, you may want to act accordingly.

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