Mortgage Rates

Is Walking Away from your Mortgage Smart?

May 28, 2010 by admin · View Comments  

According to CNN Money, “Some homeowners, no doubt, believe that the credit score hit is worth getting out from a deeply underwater mortgage. They may owe, say, $500,000 when their house value is only valued at $350,000. And, they figure, there’s no way it will ever be worth what they owe so it’s better to get out from underneath the burden. After default, they reason, they can raise... [Read the entire article…]

30 Year Mortgage Rates Under 5 Percent, Trouble

March 18, 2010 by admin · View Comments  

At the end of last week, Freddie Mac reported that mortgage rates remained under the 5 percent mark for the second consecutive week, with the average interest on a 30-year fixed loan coming in at 4.95 percent from 4.97 percent a week earlier. Meanwhile, interest on 15-year fixed loans averaged 4.32 percent versus 4.33 percent the previous week. Rates on five-year, adjustable-rate mortgages settled... [Read the entire article…]

Mortgage Rates Lower, Stable in Q1 2010

January 11, 2010 by admin · View Comments  

The average interest on long-term mortgage rates fell this past week, after rising for four consecutive weeks. Freddie Mac reports that 30-year fixed mortgage rates averaged 5.09 percent, down from 5.14 percent a week ago and compared with 5.01 percent in 2009. Also, 15-year, fixed loans fell 0.4 percent to 4.5 percent; five-year adjustable-rate mortgages were unchanged; and one-year ARMs declined... [Read the entire article…]

2010 Mortgage Rate Predictions

January 5, 2010 by admin · View Comments  

Nashville mortgage rates ended 2009 above 5 percent, with Freddie Mac reporting 30-year fixed rates at an average 5.14 percent, still very affordable by historical standards. Although higher long-term borrowing costs late in the year could signal further increases for 2010, new data from Wells Fargo, JPMorgan Chase, and the Mortgage Bankers Association indicates more borrowers are refinancing into... [Read the entire article…]

Nashville Mortgage Rates Begin to Rise

December 24, 2009 by admin · View Comments  

Nashville long-term mortgages moved closer to 5 percent this week, with interest on 30-year, fixed loans averaging 4.94 percent compared to 4.81 percent last week and 5.19 percent a year ago. Freddie Mac also reports hikes for 15-year, fixed mortgages, five-year adjustable-rate mortgages, and one-year adjustable rate mortgages. The 15-year, fixed rate rose to 4.38 percent from 4.32 percent; the five-year adjustable... [Read the entire article…]

Mortgage Interest Rates Move Higher

December 14, 2009 by admin · View Comments  

Mortgage interest rates on 30-year fixed mortgages rose to 4.81 percent last week, after the prior week’s fall to a record low of 4.71 percent, reports Freddie Mac. While the Federal Reserve’s effort to purchase $1.25 trillion in mortgage-backed securities issued by Fannie, Freddie, and Ginnie Mae has helped keep rates attractive, Freddie Mac chief economist Frank Nothaft says interest... [Read the entire article…]

Mortgage Rates Set Another Record Low

December 7, 2009 by admin · View Comments  

Mortgage interest has fallen to the lowest level since Freddie Mac began compiling its weekly survey in 1971, as the average 30-year fixed rate declined to 4.71 percent last week from 4.78 percent a week earlier. Mortgage rates were also more attractive for 15-year fixed loans, which fell from 4.29 percent to 4.27 percent, but consumers may have difficulties qualifying for these loans as lenders... [Read the entire article…]

Fixed Mortgage Rates Fall to Record Lows

December 1, 2009 by admin · View Comments  

Freddie Mac released the results of its Primary Mortgage Market Survey last week in which the 30-year fixed-rate mortgage (FRM) averaged 4.78 percent with an average 0.7 points for the week ending November 25, 2009, down from the prior week when it averaged 4.83 percent. Last year at this time, the 30-year fixed rate mortgage averaged 5.97 percent. The 30-year has not been this low since the week... [Read the entire article…]

30 Year Home Mortgage Rates Update

November 23, 2009 by admin · View Comments  

Rates for 30-year home mortgages approached the all-time low of 4.78 percent again last week, falling to 4.83 percent from an average of 4.91 percent a week ago. The 15-year rate did reach a new bottom, dipping from 4.40 percent to 4.32 percent – the lowest level since Freddie Mac began tracking rates in 1991. Wellesley College economist Karl Case says the Federal Reserve’s efforts to purchase... [Read the entire article…]

Nashville Mortgage Rates at Lowest Level in Five Weeks

November 17, 2009 by admin · View Comments  

The 30-year fixed mortgage rate fell to 4.91 percent for the week ended Nov. 12, , down from an average of 4.98 percent a week earlier, and has now been below 5 percent for five of the last seven weeks, reports Freddie Mac. Also, 15-year fixed loans fell to 4.36 percent from 4.40 percent; five-year hybrid adjustable-rate mortgages declined to 4.29 percent from 4.35 percent; and one-year ARMs slipped... [Read the entire article…]

Mortgage Rates in Nashville Low, Unchanged

November 10, 2009 by admin · View Comments  

While Freddie Mac’s weekly report on mortgage rates showed the 30-year rate dipping slightly below 5 percent, these rates did not budge in Bankrate.com’s weekly survey of large lenders. The benchmark 30-year, fixed-rate mortgage remained unchanged at 5.35 percent, according to Bankrate.com’s weekly national survey. The benchmark 15-year, fixed-rate mortgage dipped 2 basis points,... [Read the entire article…]

November Nashville Mortgage Rate Update

November 3, 2009 by admin · View Comments  

Freddie Mac reports that Nashville mortgage rates continued to drift higher last week, with average interest of 5.03 percent on a 30-year fixed loan – up o.o3 percent from a flat 5 percent the previous week. The government-sponsored enterprise reports that 30-year fixed rates have been hovering around the 5 percent mark as a result of government intervention. The result has been a refinancing... [Read the entire article…]