Mortgage Rates News

Mortgage rates? I keep hearing that mortgage rates will probably hold steady until mid-2008. They've already increased from 6.15 to 6.75 in the past 6 weeks. I'm building a house, and won't be able to lock in a mortgage rate until probably mid-August. Should I "buy" my mortgage rate at 6.75% now for $750, or should I hold off? What are the odds that rates will top 7.25% within the next three months?

mortgage rates? i was thinking of refi my mortgage but i hear that the mortgage rates are going to drop ever lower. any experts think thats going to happen?

Mortgage Rates? Which mortgage companies have the best rates right now? I am trying to get preapproved for a mortgage and buy my first home. I have been preapproved through BB&T but the rate they quoted me was 6.25%. I felt this is high. I have good credit (score in the mid-to-high 700s) and no credit card debt. Are there any other lenders I should check with?

What caused the home mortgage rates to sky rocket, causing people being unable to pay their monthly mortgages? The recession was caused by people being unable to pay back their home mortgages because the mortgage rates were too high? Banks were not getting their money back from home owners, causing a credit crunch, thus they were unable to lend money to big businesses. Big businesses then had to cut back on expenses and began to lay people off the the thousands. So what caused the mortgage rates to go up so high that started this financial mess in the first place?

What are mortgage interest rates based on and how do I estimate what my ARM rate will be when it adjusts? My 5-1 ARM adjusted last year and went to 6.25%. It will adjust again this November. Are mortgage rates based on the feds fund rate? Or something else? How can I estimate what my new rate will be?

How do current mortgage rates help new home builders? I'd like to buy new construction as a result of the great mortgage rates right now. However, by the time I'd close on my house in December, it could be a totally different ballgame and rates could go through the roof. It seems to me, then, that low mortgage rates only help people refinancing or buying an existing house.

Why do mortgage rates keep going up after the Fed lowers their interest rate? We're in the market for a house, and it would seem that the lowering Fed rate would trickle down to the mortgage business. Instead, those rates keep going UP! How do they expect people to help out the economy by buying homes when they keep making it so unattainable and unattractive?

What are the current mortgage rates like and are there any signs of the mortgage rates changing soon? I'm looking to get the best current mortgage rates available because me and my wife are looking for our first home purchase. Can anyone point me in the right direction?

What is the best way to shop for mortgage rates? I have been pre-approved by a local very large bank known for their mortgages of which I am a customer. I know the lender. Once my short sale is approved I will get my first rate & points from him. Then is it best to shop on the internet or go in person to other banks? Do credit unions or online mortgage companies offer better rates and less points than nationally known banks? Very good suggestions. Thank you all for your ideas.

How does the unemployment rate affect mortgage rates? from regression analysis I found that there is a strong positive relationship between the unemployment rate and mortgage rates. I can't figure out why. Any thoughts?

Why do mortgage rates go up when the term goes up? I'm looking at mortgage rates for closed term, ranging from 6 months to 10 years, and I've noticed that the rates actually increase as the length of the term gets higher. Why is this the case?

Is it true that Mortgage rates go up usually in summer and come down during the end of the year? Hi, I am a planning to get a home in Bay Area. Is it true that Mortgage Rates usually go up in summer and eventually calm down during the end of the year? Thanks

What are current calgary mortgage rates at? I'm refinancing my home and I want to know what current mortgage rates are at in calgary? I'm not sure I want variable I think I want to go fixed. My credit is good.

What affect will the government bailout have on future mortgage rates? We are currently building a home and won't actually secure the financing until February or March of 2009. What is the likelihood mortgage rates will go down and by how much? We plan on locking in a rate, but don't want wait too long before they start going up.

What is the deal with mortgage rates advertised on Yahoo Finance or Bankrate? It seems that when I call to inquire about these good deals (for example, really low rates with 0 points), I am always told something like, "Well, that deal is for something else." How does one get an accurate mortgage quote online from these sites? Or is it impossible to get an accurate quote without calling the companies directly?

Why are fixed mortgage rates and adjustable rates different? I just saw that a 30 year fixed mortgage is 6.07% and a 5/1 ARM is 5.91%. What are the reasons why these rates differ by nearly .2%?

How long til it is revealed in mortgage rates? If the fed lowers interest rate 1/4 percent or possibly 1/2 percent this week as expected, how long til it is realized in mortgage rates? Thanks! I'm a little confused, but thanks for the answers! I did go to bankrate.com and their experts predict rates to fall further due to either the fed or lackluster employment numbers. Apparently, predicting mortgage rates is harder than ever. Cheers!

How will tomorrow's suspected rate cut affect mortgage rates? I'm on the verge of getting a mortgage and was curious how the rate cut would affect mortgage rates. Is it a direct relationship, like if my rate is 6% today and tomorrow they cut a half point, will tomorrow mortgage rate be 5.5%? I'm looking to do a 30 year fixed with about 50% down and excellent credit, any idea what kind of rate I should be looking to get? Any insight you can offer beofre I take the plunge would be great. Thanks.

When the Fed cuts interest rates, how long does it take to reflect in mortgage offers? I'm looking for mortgage rates online and want to build modular next year, now just looking for the best deal and wondering when today's Fed actions will be reflected in the offers I find.

What caused the spike in mortgage interest rates starting May 29th of this year resulting in a 6 month high? Look at any trend chart, and you'll see a definate spike resulting in a nearly 3/4% increase in a week! Any idea what caused this? According to the morning news, yesterday's meeting by the fed decided to leave rates at an all time low. So... if the fed's rates are at an all time low, why are mortgage rates up? For that matter, what causes them to change?

How soon can the stimulus bill come into effect to lower the mortgage rates? Ive read that the stimulus bill will help the mortgage loans by offering higher tax rebates and lowering mortgage rates to 4%. How soon will we see this happen?

Where can I find the best mortgage rates in Virginia online? I am looking for an online mortgage lender thats does mortgages in Virginia Beach, VA. Who has the best rates?

How long will mortgage rates be low? I wanted to save a little bit of money for a few months and buy a house before the end of August. Will the morgage rates still be as low as they are now in August 2008? Also what detemines if mortgage rates rise or fall?

Why do 30 year mortgage rates continue to rise, while the fed continues to lower the fed funds rate? It seems as though when money is more readily available, the 30 yr mortgage rates should drop.

How are mortgage interest rates determined? What I mean by that is I assume there is a formula which banks use to figure out what mortgage rates to offer a customer based on prime rates, customers credit history, size of mortgage, etc... Does anyone know how this process works and the specific formula/methodology used? thanks in advance!

Question about the Treasury Dept's efforts to freeze adjustable mortgage rates? I do not understand why the Treasury Department has to step in to negotiate the freezing of mortgages rates. Why cant the banks/mortgage companies use their own discretion by doing it themselves? You would think it would make good business sense to freeze the rate and having a mortgagee continuing paying the mortgage than having the loan forclosed altogether... An explanation to why these companies are not already doing this would be helpful. Thanks.

Is today's stock market rally going to influence the mortgage interest rates tomorrow? I'm debating to lock in my mortgage today with not so great rates that closed on Friday. Today had a huge stock market rally, do you think the mortgage rates will drop tomorrow? What I'm debating is should I lock in rates today or wait until tomorrow because of this rally? I know morgage rates are tied to bonds.

Does my mortgage rate go down if interest rates are cut? Sorry to ask the shocking stupid question! I am coming to the end of my mortgage term ( end of September) and am wandering if the mortgage rates will go down (currently for at 6.99%). Do you think it will go down by this time? I am in the UK.

Would it make sense to buy a house when mortgage rates are 14% and expected inflation is 15%? Would it make sense to buy a house when mortgage rates are 14% and expected inflation is 15%?

How does locking a mortgage rates work? If you lock your mortgage then 1 week later rates go down Am I re-able to re-lock my rate with no penalty.

With mortgage rates being the lowest in years, will my adjustable rate go lower when it comes to renew? I have an adj mortg rate, that's set to renew in september, and with mortg rates being low right now, could it go lower than it is now? Right now it's high, and that's what my mortgage started with...not a low int rate. one has a ARM(Libor index), and the other is a fixed rate.

Are 2nd mortgage rates the same as the first? I see that home equity line of credit has a larger interest rate. However, if I were to take out a 2nd mortgage, are the rates the same as a first mortgage for that day? Also, are there closing costs on a 2nd mortgage and are they relatively the same?

Are mortgage rates on condos generally higher than houses? I locked a rate of 5.25% earlier this week and my mortgage broker mentioned this was the rate for a condo. Are the rates for a condo different than a house? I'm wondering if I got a good rate, especially since rates have recently gone up.

Will I get less than the average mortgage rates if I have great credit? We are thinking about buying a house, and I just want to know if we have enough for a 10% down payment, decent income, and a great credit score ; can we expect to get below the average mortgage rates that are listed online? Thanks. We will be get pre-approval before we decide to go house shopping, but I am just wondering this right now.

What is the largest site for published mortgage rates? Is there an independent site (besides bankrate.com) that publishes daily mortgage rates? Ideally, I am looking for a datafeed I can integrated into a project.

Are large local banks less likely to give great mortgage rates to borrows with great credit scores? I've been shopping for a low interest rate (30 year fixed). I have excellent credit but it doesn't seem to help me much when I go into large local banks. It seems like they just run the basic numbers to make sure I qualify for a conforming loan. They then tell me their printed rate on their website. My experience with smaller mortgage companies is that they collect more information and they have quoted lower rates. Is this typical?

Why would the failure (or need for government support) by Fannie or Freddie cause mortgage rates to rise? How does that correlation work? How do mortgage rates respond to the circumstances of Fannie and Freddie?

I am going to buy a home in 1 year. Can I lock in mortgage rates today? I will be purchasing a house in one year. I believe long term mortgage rates are around their low. I am concerned about where those rates will be a year from now. Is there a way I can agree to borrow from a lender and lock in today's mortgage rates?

Looking to find lowest refinance home mortgage rates? I’m looking for a better home loan mortgage rate than I currently have with my bank. So I am seriously considering refinancing. Does anyone know where I can currently check for the lowest refinance home mortgage rates?

Do you think the mortgage rates will get better this year? I come out of a fixed deal in August 2008. What are my chances of the mortgage rates being a bit better by then? I live in the UK.

Can an American obtain a mortgage loan from Japan where the mortgage rates are much lower? Can an American obtain a mortgage loan from Japan where the mortgage rates are much lower?

what have the mortgage rates fallen to this week? I know the mortgage rates fell this week, but what did they fall to? How long will this last? I am currently looking for a home, so it would be good info. to know. Thanks.

Describe the advantages and disadvantages of three different institutions of best mortgage rates and terms? "Imagine you want to arrange a mortgage on your first house purchase. You need $200,000.00 Find the best rates and terms available from three different type of lenders such as a mortgage broker a major bank and a banking company such as president choice. Describe the advantages and disadvantages of each and choose the best one."

Fed Reservse rate slashes and the current mortgage rates? Today, Federal Reserve slashes benchmark interest rate to between 0.25 and zero percent. What the heck does that mean? And how come no matter how many times the Fed slash the rate, it barely affects the 15-year and 30-year mortgage interest rates? Does it have something to do with the housing demand? Isn’t the housing industry in the pits now? How come the rates are not going down? Can anyone explain this to me in layman’s language? Thank you.

When the fed lowers their rate, how exactly does this affect mortgage rates? is there a ripple effect? is there a conversion formula? is the affect on mortgage rates delayed? if so, by how much time?

Where can I find out current home mortgage rates for my area? Does anyone know where I can find out the current mortgage rate averages for my geographic area? I'm looking at possibly refinancing and want to know if it would be worthwhile. Also, can I expect any costs when trying to refinance?

How much longer will mortgage rates continue to decline? I saw today that my local bank's 30-year fixed mortgage rate is 5.375%. How much longer will they continue to decline, and how low will they go? I realize that none of you have a crystal ball, but aren't there companies out there that forcast this type of thing? What are they saying?

How do you shop around for the best mortgage rates? Our realtor suggested we speak with the woman in her office who does mortgages. Other people are telling me to shop around. How can we do this without it effecting our credit scores? Won't our scores drop if we apply with several banks and they need to check our information? Also, how do we know what lenders to seek out for the best rates?

To what extent, mortgage rates impact on the behavior of property investors? Do the impact of mortgage rates the same as the interest rates'?

What is causing mortgage rates to drop? I would like to hear your take on why this is happening . For 3 straight weeks, interest rates have been dropping on 30yr mortgages. My rationale : I think they are falling because the mortgage lenders do not have enough demand but an over-abundence of capital from foreign countrys as the USA keeps buying more imports than selling the world stuff, and its causing another imbalance where the countrys are running out of places to invest.I also think it's further proof the housing bubble has popped.....I suppose many here will say it's going to be good for housing as there is no 'bubble'. I'd still like to hear from you.

Will 30 year fixed rate mortgage rates ever go down? Everybody keeps saying that the economy needs a jump start - well, I am certainly willing to do my part and spend more once I have refinanced my current mortgage. However, it seems like the 30 year fixed rates continue to hover around 6-6.25%. Is there any reason to believe that these rates will fall?

Effect of an interest rate cut on mortgage rates? The Fed has announced they may cut interest rates in the middle of March. I am currently working on getting a mortgage for a property I will close in mid-April. Should I wait to lock the rate until after the Fed announces the cut?

Could it be that short term interests are used by the greedy as an excuse to increase mortgage rates? (in reference to my question) Short term interest rates only apply to installment loans such as credit cards, but they do not have any impact on mortgage rates because those are determined by Treasure Bond rates or long-term rates.

How low can mortgage rates go? Mortgage rates went back down the 5.5 range this past week. It seems this is a good rate at this time, but really no better than it was about a year ago. Given the economy, I'm hoping they finally decide a viable fix would be to really lower the mortgage rates substantially so that those who have been financially responsible can buy into the market. Realistically, what would the lowest the mortgage rates could get? Thanks!

How low do you think mortgage rates will fall in the next 6 to 8 months? I live in Raleigh, NC . I'm wanting to buy a house some time this summer. I have a FICO score of 700+. I'm looking for 170K to 200K house with a 5% downpayment. what kind of interest rate can I expect for a standard 30 year fixed mortgage?

Can you explain to me in layman terms how adjustable mortgage rates work? My sister has an adjustable rate mortgage. Over the past year her mortgage payments have gone up several times. Now her monthly mortgage payment is $2,235 for a 2000 sq ft home in a nice area. No new construction has gone up..so I dont understand... I was under the impression if you paid your bills on time your monthly payment would adjust down not up. My condo (2500 sq ft also in a very nice area) payments have gone down, but her payments keep rising..why? DJM: You hit on something that required a phone call to my sister. I pay $50 over my monthly payment while my sister simply pays the monthly payment... Great answers here. So far only one answer had me pulling out my hair because the person used a lot of jargon...

Should we shop at around at diffrent banks for mortgage rates? My husband and I are first time home buyer's. We didn't kow if it was better or worse to let several banks run pre-approvals. I wasn't sure if it would hurt our credit for a bunch of diffrent people to pull up our history. I want the best rate but I don't want to harm our rating. What is the best route to take when looking for a mortgage?

I'm looking for New Jersey FHA Mortgage Rates. Can someone please refer a fha mortgage lender in NJ to me? My wife and I are refinancing our home in NJ and would like to know what the new jersey fha mortgage rates are like as of now. Any input would be appreciated. Thanks!

Why aren't mortgage rates going down despite the Fed rate cut? We would like to refinance our current mortgage and I was hopeful that the result of the Fed rate cut would be a drop in the mortgage rates. However, it seems like mortgage rates only dropped by about 1/4 % point (I was hoping to go down to about 5% on a 30 year fixed rate with no points with an excellent credit score). What determines whether mortgage rates fall and how much?

Does anyone know of a Bank or someone that give really low mortgage rates for first time home buyers? Looking to buy a house in Virgina and am shopping around for low mortgage rates. Anyone know of any low rates?

Will mortgage rates fall in the next year? Will mortgage rate fall below 5% in the new year, will inflation raise greater than 3% will the US dollar ever match the British pound what do you think? Serious educated discussion please.

Will mortgage rates continue to fall, stay steady or rise by this time next year? Trying to determine the best time to buy - would like to have 20% down to avoid private mortgage insurance, but not sure if its worth waiting if the market makes a turn around and interest rates go back above 6% I realize you cant really predict this, but what are the experts saying?

Will home mortgage and sales recover when lending rates get down to 3.25 % ? With more people out of work and wage increases stalling,is 2 % to 3.25% mortgage rates possible to start a full recovery by July 2009 ?

My fixed rate mortgage has come to an end. Should I get a new one now or hope interest rates fall again? This is a question for those in the UK. My fixed rate mortgage has come to an end. Do you think interest rates will continue to fall, or is it more likely that they'll begin to rise? Should I get another fixed rate mortgage now or stay where I am on the provider's variable rate (slightly higher than what they've offered as a fixed rate) and hope interest rates continue to fall? Thanks!

With Rates Falling At What Point Do I Re-Negotiate My Mortgage? We have 4 years left on our 5 year term of 5.1%....there is still 208k left on our mortgage, the table looks like we should have it paid off in 18 years. With rates the way they are, how do I figure out what point it makes sense to pay the penalty and re-negotiate my mortgage rate early of the renewal? This is a Canadian question, and RBC is the lender if that helps.