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 [...]

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. [...]

Mortgage Rates in Nashville Bumped Up

October 21, 2009 by admin · View Comments 

Fewer consumers sought home loans last week as the national average interest on 30-year fixed mortgages bumped up to 5.02 percent from 4.89 percent the week before, the Mortgage Bankers Association reported. At the same time, the average rate for a 15-year fixed loan rose from a record low of 4.32 percent back up to [...]

Long Term Nashville Mortgage Rates Close to Records

October 12, 2009 by admin · View Comments 

30 fixed mortgages moved closer to the all-time low of 4.82 percent reached in May 2009, falling to 4.87 percent last week from 4.94 percent a week earlier, according to Freddie Mac. Homeowners who refinance have an opportunity to reduce their payment on a $200,000, 30-year, fixed loan by nearly $134 a month from a year ago, [...]

Mortgage Loan Rates Unchanged in Nashville

July 2, 2009 by admin · View Comments 

Interest on 30-year fixed mortgages settled at an average of 5.40 percent this past week, reports Freddie Mac, up from 5.38 percent in the previous week and much lower than the prevailing rate of 6.45 percent a year ago. Five-year, hybrid adjustable-rate mortgages also bumped upa couple of notches to 4.99 percent; but 15-year fixed [...]

Freddie Mac Reports Rising Mortgage Rates

June 15, 2009 by admin · View Comments 

Rising mortgage rates put the brakes on mortgage refinancing last week, according to Freddie Mac. The firm’s weekly survey pegged interest on 30-year fixed mortgages at an average of 5.59 percent – up from 5.29 percent last week and the highest rate since November 2008. This is the third straight week of significant rises, in [...]

Nashville, TN Mortgage Rates Surge

June 9, 2009 by admin · View Comments 

Freddie Mac reports a surge in the 30-year fixed mortgage rate to a 25-week high of 5.29 percent during the week ended June 4, up from 4.91 percent the prior week. This is the second straight week of significant rate jumps, up almost 10 percent in just 2 weeks. It appears that the refinance window [...]

Mortgage Rates Rise – HASP Program Fixed?

June 2, 2009 by admin · View Comments 

  Freddie Mac reports that interest on most long-term mortgages rose this past week. According to the firm, 30-year fixed loans came in last week at an average rate of 4.91 percent, up from 4.82 percent a week earlier; while 15-year fixed mortgages settled at 4.53 percent compared to 4.50 percent over the same period. [...]

GM Received $19.4 Billion in Bailouts Still Bankrupt

May 27, 2009 by admin · View Comments 

My thoughts about the news that GM has announced they are most likely going to file for Chapter 11 bankruptcy on Monday. Okay, so let me get this straight. The American taxpayers gave GM $19.4 Billion dollars to put this economically inept company on life support for 6 months only to have them file the [...]

Nashville Mortgage Rates Inch Upward

May 12, 2009 by admin · View Comments 

Freddie Mac reports a jump in the 30-year fixed mortgage rate to 4.84 percent during the week ended May 7 from 4.78 percent the previous week, which matched the record low. Meanwhile, average interest on 15-year fixed loans climbed to 4.51 percent from 4.48 percent. Low borrowing costs have energized the refinance market, which now [...]

Nashville Mortgage Rates Lower with Fed Action

April 30, 2009 by admin · View Comments 

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 [...]

National Foreclosures Spike, Lender Modifications

March 30, 2009 by admin · View 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, [...]