Nashville Mortgage Rates Begin to Rise

December 24, 2009 by admin · Leave a Comment 

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 [...]

Mortgage Rates in Nashville Low, Unchanged

November 10, 2009 by admin · 3 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, to [...]

November Nashville Mortgage Rate Update

November 3, 2009 by admin · Leave a Comment 

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 [...]

Modified Subprime Mortgages Redefault

May 30, 2009 by admin · 1 Comment 

Fitch Ratings is slated to release a report this week showing that 65 percent to 75 percent of modified subprime mortgages will still fall behind by 60 days or more within one year of the loan change. Although some experts believe that reducing the principal amount owed is the best way to keep distressed borrowers [...]

Mortgage Rates in Nashville Lower Again

May 29, 2009 by admin · 1 Comment 

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.82 percent during the week ended May 21 from 4.86 percent the prior week, while the 15-year fixed mortgage rate dipped to 4.5 percent. The Federal Reserve is working to hold down rates by purchasing upwards of $1.25 trillion in mortgage-backed securities and [...]

Foreclosures Rise on Prime Mortgages

May 25, 2009 by admin · 3 Comments 

This article entitled “Job Losses Push Safer Mortgages to Foreclosure” appeared in the NY Times on May the 25th, 2009. The authors are Peter Goodman and Jack Healy: As job losses rise, growing numbers of American homeowners with once solid credit are falling behind on their mortgages, amplifying a wave of foreclosures. In the latest [...]

Nashville Mortgage Rates Lower with Fed Action

April 30, 2009 by admin · 1 Comment 

Freddie Mac reports a decline in the 30-year fixed mortgage rate to 4.80 percent during the week ended April 23 from 4.82 percent the prior week, while average interest on 15-year fixed loans held steady at 4.48 percent. Experts attribute the drop in the 30-year rate to the Federal Reserve’s plan to purchase upwards of [...]

Freddie Mac CFO Dead; Suicide Suspected

April 22, 2009 by admin · 2 Comments 

This is not the type of news that I like to report on my blog, but the rampant rumors about Freddie Mac’s solvency coupled with some wild speculation about the many plausible reasons for this act has compelled me to post this story. According to the New York Times: “David B. Kellermann, the acting chief [...]

Mortgage Rates Hits New Record Low

April 7, 2009 by admin · 1 Comment 

Freddie Mac reports that rates on 30-year mortgages fell to the lowest level on record for the second consecutive week. This week, average rates on 30-year fixed-rate mortgages declined to 4.78 percent, down from 4.85 percent a week ago. Refinancing activity has picked up because of the low rates, and the Mortgage Bankers Association says [...]

National Foreclosures Spike, Lender Modifications

March 30, 2009 by admin · 4 Comments 

This article entitled “Foreclosures spike – so do mortgage-help plans” appeared in the CNNMoney.com on March the 30th, 2009. Les Christie wrote: “NEW YORK (CNNMoney.com) – Lenders have helped an increasing number of mortgage borrowers to get current on payments and stay in their homes, but the tide of foreclosures is still rising. In February, [...]

Mortgage Rates Drop Below 5% Again

March 25, 2009 by admin · Leave a Comment 

  Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.98 percent during the week ended March 19 from 5.03 percent the prior week, marking the lowest rate since 4.96 percent in mid-January 2009. Experts believe that rates could fall further in response to the Federal Reserve’s announcement that it will add [...]

Fannie Mae Makes it Harder for Condo Buyers

March 24, 2009 by admin · 6 Comments 

This article entitled “Fannie Mae adds restrictions for backing condo mortgages : WSJ – Update” appeared in the RTTNews on March the 18th, 2009. The staff writer wrote: “Government backed mortgage finance company Fannie Mae (FNM) has enforced stricter guidelines for obtaining condominium mortgages, effective March 1, the Wall Street Journal reported Wednesday. The restrictions [...]