Mortgage Loans News

Rates calculator and cash
Apr, 18, 2013
Mortgage interest rates headed down towards record lows this week according to interest rate reports on loans.org. Strong reports at the beginning of 2013 have softened, resulting in reduced mortgage interest rates. For the week ending April 18, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.34 percent. This rate is down from last week’s average of 3.37 percent. According to RealtyTrac, the nation’s median home value in Q3 of 2012 was $185,200. If the average borrower took out a $185,200 home loan, the overall cost would be significantly less now than it would have been one year ago.
Businessman approaching home
Apr, 11, 2013
All four types of mortgage loan interest rates lowered this week due to low employment reports according to a Freddie Mac survey. For the week ending April 11, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.8 point, down from last week when the rate was 3.54 percent. The 30-year FRM has been slowly reducing since spiking to 3.63 percent on March 14. Last year at this time, the rate averaged 3.88 percent. If a borrower took out a $250,000 home loan for the most common period of time, 30 years, the overall cost would be less now than it would have been one year ago.
Mailbox full of mail
Apr, 9, 2013
Thirteen of the mortgage loan companies investigated by federal regulators will begin sending compensation to borrowers on April 12. In a press release issued by the Office of the Comptroller of the Currency, the mortgage loan servicers will spend $9.3 billion to settle claims of foreclosure abuse. The payments are the result of an agreement between the Office of the Comptroller, the Federal Reserve and the following companies and their affiliates or subsidiaries: Aurora, Bank of America, Citibank, Goldman Sachs, HSBC, JPMorgan Chase, MetLife Bank, Morgan Stanley, PNC, Sovereign, SunTrust, U.S. Bank and Wells Fargo.
Welder manufacturing industry
Apr, 4, 2013
Home loan interest rates dipped lower according to Freddie Mac’s weekly survey. For the week ending April 4, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.8 point. That is down from last week when the rate was 3.57 percent. At this time last year, the 30-year FRM averaged 3.98 percent. The 30-year FRM has remained around 3.5 percent for the past two months. Freddie Mac sees this seesawing rate as an attributing factor to the housing recovery.
Hands over small house
Mar, 28, 2013
Mortgage interest rates nudged higher this week according to a Freddie Mac survey. For the week ending March 28, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.57 percent with an average 0.8 point, up from last week when the rate was 3.54 percent. Although the rate is rising, it is still lower than the reading on March 14, where it reached a high of 3.63 percent. A year ago, the 30-year FRM averaged 3.99 percent.
Home during spring
Mar, 21, 2013
The spring homebuying season brings low mortgage loan interest rates this week according to Freddie Mac survey results. The average fixed mortgage rates reversed their course from last week and fell this week. Len Kiefer, deputy chief economist at Freddie Mac, said the housing market has a strong seasonal pattern that repeats yearly. “In the winter months, home construction slows due to weather conditions,” Kiefer told loans.org. “Homebuyers typically don’t shop as much as in the winter, but realtors see increased traffic in the spring.”
Jumping family in home
Mar, 14, 2013
Home loan interest rates jumped this week to a high for 2013, according to Freddie Mac’s weekly survey. For the week ending March 14, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.63 percent with an average 0.8 point, up from last week when it averaged 3.52 percent. A year ago, the 30-year FRM averaged 3.92 percent. This week’s reading for the 30-year FRM was its highest since Aug. 23, 2012. It has increased, albeit on a fluctuating path, since reaching its record low of 3.31 percent on Nov. 21, 2012.
Leveler on wood
Mar, 7, 2013
Mortgage interest rates remained steady this week according to Freddie Mac survey results. Frank Nothaft, vice president and chief economist at Freddie Mac, said the low mortgage interest rates are helping to revive the housing market. For the week ending March 7, 2013, the 30-year fixed rate for mortgages averaged 3.52 percent with a 0.7 point average, up from last week’s 3.51 percent average. In addition, the 15-year FRM averaged 2.76 percent with a 0.7 point average, the same as last week.
Shattered glass
Feb, 28, 2013
After remaining mostly unchanged for a month, the average mortgage loan interest rates decreased this week according to Freddie Mac survey results. For the week ending Feb. 28, 2013, the 30-year fixed rate for mortgages averaged 3.51 percent with a 0.8 point average, down from last week’s 3.56 percent average. In addition, the 15-year FRM averaged 2.76 percent with a 0.8 point average, down from last week when it averaged 2.77 percent. Len Kiefer, Freddie Mac’s deputy chief economist, told loans.org that mortgage loan interest rates remain very low by historical standards.
House on money
Feb, 21, 2013
The 30-year fixed-rate for mortgage loans broke its standstill and increased this week according to Freddie Mac’s survey. For the week ending Feb. 21, 2013, the 30-year fixed-rate mortgage (FRM) averaged 3.56 percent with an average 0.8 point, up from last week’s average of 3.53 percent. A year ago, the 30-year FRM averaged 3.95 percent. If a borrower took out a $250,000 home loan at today’s home loan interest rate of 3.56 percent, his or her monthly payment would be $1,131. After 30 years, he or she would pay a total of $407,160.

Pages