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currently able to offer you great low rates, competitive closing costs,
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contacted after applying,
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home loan for your needs.
They will be more than happy to assist you in finding the best
mortgage for your particular circumstance. All loans do not fit all people.
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if you need mortgage advice, help, or tips, we
promise our home loan experts will make your next mortgage "easy".
hassle-free shopping with us will speed up your mortgage process and
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Home Mortgage Story
Home Mortgage Refinancing Rates & Home Purchase Rates Lower Due To
Week Economic Indicators
Home mortgage rates and mortgage refinance rates
are moving downwards due to poor employment data and the
non-manufacturing economic index. In addition, at their previous meeting, the
Fed stated that QE (Quantitative Easing) may be coming to an end
(Tapering). QE is the process
where the Fed props up the economy by purchasing billions in Treasury Notes and MBS (Mortgage Backed Securities - the most
important factor impacted mortgage rates). Home mortgage rates
normally follow bond rates - the less MBS's the Fed buys, the higher the
interest rate will be for the consumer. Mortgage rates also
follow the economy - a better economy, more jobs, more
new home sales, equals higher interest rates. Market uncertainty
also causes a rise in mortgage rates. Therefore, it may be a
good idea to refinance your mortgage or buy a home now before rates
Overall, interest rates on home loans are trending
slightly downward, and may continue to do so. The theory behind
falling interest rates is as follows: a weaker, flat, or
unstable economy in the US and Europe, lower employment numbers,
weakening consumer spending and confidence, the stock market remaining
flat or moving lower, all contribute to falling interest rates.
The theory behind rising interest rates is as follows: a
stronger, more stable economy in the US and Europe, better employment
data, higher consumer confidence and spending, the stock market moving
higher, all cause and support higher interest rates.
This recent news puts today's average 30-year
fixed-rate conventional loan at 4.28%, down 9 basis points from last
week for the average lender, which is still advantageous for those that intend to purchase a home
or do a mortgage refinance soon. If you need home
mortgage advice, mortgage help or refinance advice,
please click to contact us or
For The Week Ending March 6th, 2014:
- Thirty-year fixed-rate-mortgages (FRM's) averaged 4.28% with
0.7 points this week. That's down 9 basis points from a week ago
when they were 4.37%. At this time, one year ago, the thirty-year FRM was approximately 3.52%.
- Fifteen-year fixed-rate-mortgage (FRM's) averaged 3.32% with 0.6
points for the week. That is down 7 basis points from a week ago
when they were 3.39%. At this time last year, the fifteen-year FRM was hovering around 2.76%.
- Five-year Hybrid Treasury Indexed adjustable-rate-mortgages (ARM's)
averaged 3.03% with 0.4 points this week. That was down 2
basis points from the same time a week ago when they were 3.05%. At this time, one
year ago, the five-year ARM was approximately 2.63%.
- One-year Treasury Indexed adjustable-rate-mortgages (ARM's) averaged
2.52% with 0.3 points for the week. This is the same as a week ago when they were 2.52%. At this time last year,
the one-year ARM was hovering around 2.63%.
Home Mortgage Interest Rate Trend Prediction For The Upcoming Week:
According to a survey of home loan experts at
bankrate.com for the upcoming week, February 6th 2014 to March 12th 2014,
5 percent believe home loan and refinance mortgage rates
will rise over the next week, 65 percent think mortgage and refinance
rates will fall, and 30 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 9 basis
points to 4.28%, and
75 percent picked correctly. As you can see, mortgage
experts believe rates will go down again this week, you may want to act accordingly.
Long Term Home Mortgage Help, Refinance Advice & Home
It is our opinion that borrowing money for a
mortgage refinance or a home purchase will continue to become more
costly with no end in sight. Your best bet is to focus on the fact that interest
rates are historically low and can change quickly based on events that are not lined
up or able to be forecast. If you intend to do a home refinance
or purchase a house, it is up to you whether to lock in your
rate or not.
Risk versus reward for floating and not locking looks like more of a gamble
now than we would like, but not out of the question for those who understand
the risks and have an exit strategy if things do not go their way.
interest rate lock to learn more about locking in your rate.
Lastly, if you need further refinance or mortgage advice, help, or tips, please contact us.
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- Peak Home Loans, trusted since 1998 with hundreds of thousands of satisfied customers.