What’s Ahead For Mortgage Rates This Week: February 25th, 2013

Feb 25

What’s Ahead For Mortgage Rates This Week: February 25th, 2013

February 25, 2013 By Joshua Oliver Leave a Comment

A quiet past week in economic news caused mortgage rates to worsen slightly. This week, however, will be packed with economic reports which may have an impact on interest rates going forward. Freddie Mac reported that the average rate for a 30-year fixed rate mortgage rose by 3 basis points from 3.53 percent to 3.56 percent with borrowers paying 0.8 in discount points and all of their closing costs. The average rate for a 15-year fixed rate mortgage was unchanged from last week at 2.77 … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Consumer Price Index - CPI (CPIS), Economic calendar, Freddie Mac, Inflation, Mortgage loan

Aug 31

Mortgage Rates Drop For The First Time In 4 Weeks

August 31, 2012 By Justin Paulhamus Leave a Comment

After 4 weeks of rising costs, DC mortgage rates finally recede. According to Freddie Mac's weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate dropped 7 basis points to 3.59% this week. Depending on where you live, however, you may find that your offered mortgage rates varies. Freddie Mac's "published rate" is a national average based on a survey of more 125 banks. The rates you receive as an individual vary by bank, and vary by region. Mortgage … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Fixed rate mortgage, Freddie Mac, mortgage, Mortgage loan, North Central Region, PMMS, Point (mortgage), real estate, washington dc

Aug 17

Mortgage Rates Rise For Third Straight Week

August 17, 2012 By Jessica Wilkie Leave a Comment

Mortgage rates in DC keep on rising. According to Freddie Mac's weekly Primary Mortgage Market Survey, for the third straight week, the 30-year fixed rate mortgage rate rose, this time tacking on 3 basis points on a week-over-week basis to 3.62%, on average, nationwide. The 3.62% mortgage rate is available to mortgage applicants willing to pay 0.6 discount points plus a full set of closing costs. Freddie Mac's published mortgage rates are compiled from a 125-bank … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Ben Bernanke, Federal Open Market Committee, Fixed rate mortgage, Freddie Mac, Mortgage loan, North Central Region, PMMS, Point (mortgage)

Jan 25

The Federal Reserve Meets Today : Mortgage Rates Expected To Move

January 25, 2012 By Joshua Oliver 5 Comments

The Federal Open Market Committee adjourns from a scheduled 2-day meeting today, its first of 8 scheduled meetings this year. The FOMC is a designated, rotating, 12-person committee within the Federal Reserve, led by Federal Reserve Chairman Ben Bernanke. Members of the FOMC sub-committee are the voting members of the Federal Reserve; the ones that ultimately determine U.S. monetary policy. The most well-known Federal Reserve monetary policy tool is the central bank's Fed Funds Rate. The … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Ben Bernanke, Fed Funds Rate, Federal funds rate, Federal Open Market Committee, Federal Reserve, Federal Reserve System, FOMC, Wall Street

Dec 16

Mortgage Payments Fall 12% Since February 2011

December 16, 2011 By Joshua Oliver 9 Comments

As mortgage rates drop, so do housing payments. It's a good time to consider refinancing your home, or making an offer on a new one. Mortgage payment affordability has never been so high in history. According to Freddie Mac, the average 30-year fixed rate mortgage rate is now 3.94 percent -- an all-time low -- with an accompanying 0.8 discount points. This means that in order to get access to the 3.94 percent rate, District of Columbia homeowners and home buyers should expect to pay a … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Fixed rate mortgage, Freddie Mac, Loan, Mortgage Bankers Association, Mortgage loan, PMMS, Refinancing, Washington D.C.

Sep 16

Choosing A 15-Year Fixed Rate Mortgage Over A 30-Year Fixed Rate Mortgage

September 16, 2011 By Mark Mlakar Leave a Comment

It's not just 30-year fixed rate mortgages that are posting all-time lows these days. The 15-year mortgage has been plunging, too. If you've ever considered a 15-year loan term, it's a terrific time to talk to your lender. According to Freddie Mac's weekly mortgage rate survey of roughly 125 U.S. lenders, at 3.30 percent, the 15-year fixed rate mortgage is at its lowest point in history. The 3.30% rate doesn't come for free, however. Based on average loan term nationwide, borrowers in DC … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 15-Year Fixed, 30-Year Fixed, Adjustable-rate mortgage, District of Columbia, Fixed rate mortgage, Freddie Mac, Mortgage loan, Mortgage Strategy, Refinancing, washington dc

Jun 14

Is This The Start Of A Refi Boom? Mortgage Rates Fall For 8 Straight Weeks.

June 14, 2011 By Ariana Lazar Leave a Comment

Mortgage rates are falling, falling, falling. On a wave of uncertainty about Greece and its debt; and weaker-than-expected economic data at home, conforming 30-year fixed rate mortgage rates have fallen to levels not seen since December 2, 2010. Mortgage rates have dropped 8 weeks in a row. Not even last year's Refi Boom produced an 8-week winning streak. This season's streak is historic. The 30-year fixed rate mortgage now averages 4.49% nationally, down 42 basis points, or 0.42%, … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: 30-Year Fixed, Freddie Mac, Mortgage loan, Refi Boom, Refinancing, Washington D.C.