Moving along side higher yields on bonds, mortgage rates continued to climb upwards, with the 30-year fixed-rate mortgage above the 4 percent benchmark for the first time since October 27, 2011, according Freddie Mac’s Primary Mortgage Market Survey. “Bond yields rose over the past two weeks in part due to an improving assessment of the …
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Fixed mortgage rates fell to all-time record lows this week following the Federal Reserve’s announcement of “Operation Twist.” The central bank’s new stimulus policy entails reinvesting principal payments from its holdings of GSE debt and mortgage-backed securities back into new mortgage bonds issued by Fannie Mae and Freddie Mac. The Fed also intends to purchase …
Continue reading ‘Fixed Mortgage Rates Sink to Lowest on Record’ »
Mortgage rates, for the most part, headed lower this week. Data from Freddie Mac shows that the 30-year fixed rate remained unchanged over the past week, while all other loan products in the GSE’s survey dropped. The 5-year adjustable-rate mortgage set a new all-time record low having fallen for the eighth consecutive week. According to …
Continue reading ‘Mortgage Rates Remain at or Near Historic Lows’ »
This year California housing market conditions make a strong and compelling case for homeownership. With prices still well below the historic highs of just a few years ago and attractive mortgage rates, qualified buyers have a unique opportunity to own their own home. As seen below, a rigorous analysis of renting versus buying hears this …