All Forum Posts by: Emily Smith

Hi,

The Federal Housing Administration has long been a channel where borrowers who fall within the guidelines can turn to get a loan. The FHA loan allows borrowers who qualify for the program to put less money down, have less money as reserves to qualify, and even provides a small credit towards closing costs. Strides are underway to increase the max loan amounts and loosen the requirement to fit borrowers who are in mortgage trouble into the FHA loan. Many troubled borrowers who are unable to refinance with the current lending restrictions and limited loan options will be able to turn to FHA for help.

Cheers,
Samantha

Rates on 30-year mortgages rose for a third straight week, striking the highest level in eight months and the30-year, fixed-rate mortgages averaged 6.42 percent and the rates on 15-year, fixed-rate mortgages, a well-liked choice for refinancing, rose to 6.12 percent this week, up from 6.06 percent last week.

Rates on Five-year, adjustable-rate mortgages averaged 6.19 percent, up from 6.02 percent and One-year, adjustable mortgages were the only category to show a decline, dipping to 5.57 percent from 5.64 percent last week.

Cheers
Samantha

Hi Folks,

Fixed Rate Mortgages in California

Fifteen-year mortgage rates averaged to 6.13%
Thirty -year mortgage rates averaged to 6.43%

Adjustable Rate Mortgages in California

Adjustable rate mortgages averaged to 6.09%

Fixed Rate Mortgages in Connecticut

Fifteen-year mortgage rates averaged to 6.02%
Thirty -year mortgage rates averaged to 6.32%

Adjustable Rate Mortgages in Connecticut

Adjustable rate mortgages averaged to 5.59%

Fixed Rate Mortgages in Washington

Fifteen-year mortgage rates averaged to 6.07%
Thirty -year mortgage rates averaged to 6.28%

Adjustable Rate Mortgages in in Washington

Adjustable rate mortgages averaged to 6.06%

Fixed Rate Mortgages in Florida

Fifteen-year mortgage rates averaged to 6.15%
Thirty -year mortgage rates averaged to 6.41%
[b]
Adjustable Rate Mortgages in Florida[/b]

Adjustable rate mortgages averaged to 6.27%

Fixed Rate Mortgages in Massachusetts

Fifteen-year mortgage rates averaged to 6.10%
Thirty -year mortgage rates averaged to 6.40%

Adjustable Rate Mortgages in Massachusetts

Adjustable rate mortgages averaged to 5.74%

Fixed Rate Mortgages in New Jersey

Fifteen-year mortgage rates averaged to 5.91%
Thirty -year mortgage rates averaged to 6.28%

Adjustable Rate Mortgages in New Jersey

Adjustable rate mortgages averaged to 5.59%

Fixed Rate Mortgages in New York

Fifteen-year mortgage rates averaged to 6.15%
Thirty -year mortgage rates averaged to 6.43%

Adjustable Rate Mortgages in New York

Adjustable rate mortgages averaged to 5.84%

Fixed Rate Mortgages in Texas

Fifteen-year mortgage rates averaged to 6.12%
Thirty -year mortgage rates averaged to 6.37%
[b]
Adjustable Rate Mortgages in Texas[/b]

Adjustable rate mortgages averaged to 5.97%

Fixed Rate Mortgages in Pennsylvania

Fifteen-year mortgage rates averaged to 6.03%
Thirty -year mortgage rates averaged to 6.35%

Adjustable Rate Mortgages in Pennsylvania

Adjustable rate mortgages averaged to 5.71%

Cheers
Samantha :rock:

Hi Folks,

Mortgage rates have been relatively stable since the beginning of the year with the 30-year fluctuating in a narrow range that saw it go as high as percent for the first twopercent in early February and as low as 6.14 and 6.34 weeks in March.
Rates on 15-year, fixed-rate mortgages, a well-liked option for refinancing, rose to 5.92 percent last week, up from 5.87 percent the previous week.

Cheers
Shirly

Hi, :woohoo:

As predicted, mortgage interest rates closed their latest rise, as muted economic data trimmed the rising pressure of earlier weeks. The average 30-year fixed-rate mortgage (FRM) drops a single basis point, closing the pricing at 6.37%. For Hybrid 5/1 ARMs, a decline of five basis points was noted, and that average finished the week at 6.17%.

Thanks and Regards
Rob Thomos :rock:

Hi,

The average 30-year FRM decreased by a basis point to close at 6.26%. Hybrid 5/1 ARMs closed at 6.03%.

The turmoil in the sub prime market continues with increasing delinquencies and foreclosures. More stringent measures can help to contain the problem within this category of loans, without there being too many adverse effects on the broader mortgage market.

With rising foreclosures, there are more houses for sale in the market. Though prices are dropping there are few takers. If measures were put into place that can limit foreclosures, it would be in the better interests of everyone concerned.

Mortgage rates can be affected by flight-to-quality with comparatively fewer risks that are being increasingly sought by investors.

Cheers
Rob Thomos

Hi, :welcome:

There were no changes in the average 30-year FRM and the 5/1 ARM rates since last week, which continued at 6.27% and 6.03% respectively. The rates for the former are the lowest recorded so far in 2007.

With defaults in sub prime mortgages still continuing to escalate, certain stringent measures have been adopted to prevent the effect from spreading to better quality loans and to the broader mortgage market. Loans for which credit standards have been made more rigid include stated-income loans and no-income verification loans.

The problems in the sub prime market could have been worse had it been compounded by a weak economy. This fortunately is not the case. Though there are areas of low growth, it has been compensated by development in other sectors.

The fact that 10-year Treasury yields went up by nearly eight basis points will find an echo in the movement of fixed rate mortgages in the coming week.

Cheers
Rob Thomos :eyes:

Hi Stevel,

I am a Mortgage consultant concentrated in Residential and all types of mortgages. For further details contact me.

Cheers
Rob Thomos

Hi, :welcome:

A series of economic factors have succeeded in pushing down mortgage rates still further. The average 30-year FRM declined by six basis points to close at 6.27%. The average 5/1 ARM also declined to close at 6.03%. Movements of the Shanghai stock index and delinquencies in sub prime mortgages have clearly left their mark on mortgage rates.

Measures such as more stringent regulations for qualifying borrowers to mortgage loans are bound to affect the housing sector in an adverse manner. This can be bad news for an industry that is still trying to regain its equilibrium.

Surveys indicate that sale of used homes fared better than that of new homes. Slower economic growth and weaker employment levels can help in containing inflation. But if the economy weakens it can only add to credit-related problems.

It will take some more time to gauge whether the problems of sub prime mortgages have seeped into Alt-A mortgages and the broader mortgage market, and understand its true impact on mortgage rates.

Cheers
Rob Thomos :green:

:welcome: Hi,

The average 30-year FRM and 5/1 ARM both declined by two basis points to close at 6.33% and 6.12% respectively.

Though it was expected that inflation could be restrained within acceptable limits in the coming months, levels are still high and are not proceeding along predictable lines. If inflation shows no signs of weakening and the pattern persists, the Fed may have to step in and increase short-term rates to contain it.

Mortgage rates have moved rather tentatively over the past weeks and are interestingly poised as they correspond to almost similar figures for the same period last year. With inflation still at levels that are too high for comfort, mortgage rates may rise by a basis point or two, but cannot be expected to fall much further.

Cheers
Rob Thomos :rock: