Archive for December, 2011
15 Year Fixed Mortgage Rates Hit All Time Low Announces ForTheBestRate.com
These days many people are seriously considering changing a mortgage thanks to the challenging financial times.
There are a variety of home refinancing solutions so you should definitely seek information before you make investments. The information you find here should help
15 Year Fixed Mortgage Rates Hit All Time Low Announces ForTheBestRate.com
Wilmington, NC (PRWEB) December 18, 2011
Mortgage rate research website, ForTheBestRate.com, reports that mortgage rates advertised on the site are at or below the lowest point in its history. On Friday, December 16th 15 year fixed mortgage rates were displayed on the rate tables as low as 3.000% (APR: 3.061%, Points: 0, Fees: 2, Lender: Everbank.) Pricing for 30 year fixed rate mortgages also dropped, with posted rates as low as 3.750% (APR: 3.785%, Points: 0, Fees: 2, Lender: Everbank.)
The record setting pricing was confirmed in the weekly rate survey published by Freddie Mac, a government sponsored enterprise and purchaser of residential mortgages on the secondary market. The Thursday, December 15th report revealed that the average mortgage rates across the US hit a new historic low point this week for 15 year fixed and 5 year ARM mortgage pricing.
According to Freddie Mac the average 15 year fixed mortgage averaged 3.21% (0.8 points), and the average 5 year adjustable pricing was 2.86% (0.6 points,) down from 3.99% (0.8 points) and 3.27% (0.6 points) respectively the previous week. The 30 year fixed rate averages were down as well, matching the record low 3.94% (0.8 points) set in October of this year.
“We’re seeing a lot of homeowners move to shorter 15 year fixed loans when refinancing, and this historic pricing will hopefully encourage more to follow suit,” said Shaun Hamman, VP of Residential Lending at American Financial Resources, a National mortgage lender. “When it’s affordable a switch to a 15 year home loan from a longer term can be a great wealth building move – the rate generally goes down, the interest savings are substantial, and you get to say goodbye to that mortgage debt a whole lot sooner,” he continued.
Below is a snapshot of mortgage rates for a variety of products listed on ForTheBestRate.com on 10/21/2011. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Mortgage Rates
Amerisave – 3.625% Note Rate – 3.870% APR – 1.96 Points – 95 Fees in APR
Gateway Bank Mortgage – 3.625% Note Rate – 3.795% APR – 1.625 Points – 5 Fees in APR
20 Year Mortgage Rates
Quicken Loans – 3.750% Note Rate – 4.014% APR – 1.5 Points – 03 Fees in APR
EverBank – 3.625% Note Rate – 3.674% APR – 0 Points – 2 Fees in APR
15 Year Mortgage Rates
First Choice Bank – 2.750% Note Rate – 3.117% APR – 2 Points – #1050 Fees in APR
Gateway Bank Mortgage – 2.875% Note Rate – 3.175% APR – 1.625 Points – 5 Fees in APR
5/1 ARM Rates
First Choice Bank – 2.375% Note Rate – 2.511% APR – 1.25 Points – 50 Fees in APR
EverBank – 2.750% Note Rate – 2.783% APR – 0 Points – 2 Fees in APR
About ForTheBestRate.com
ForTheBestRate.com is a website that offers information regarding mortgages, insurance, and personal finance. ForTheBestRate.com is owned by CMG Equities, LLC based in Wilmington, North Carolina. For more information, visit http://www.forthebestrate.com/
###
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
But the truth is refinancing can sometimes be a good idea both in difficult and easy real estate markets. It's important to understand what's involved with re-financing, when it can be useful as well as what you need avoiding. This is often a somewhat complex if you are having their first go at this task however the particulars you can get right here should help.
HSH.com Weekly Mortgage Rate Radar: Nearly Level Mortgage Rates Present Opportunity
At this moment lots of folks are considering re-financing on account of the challenging financial times.
There are many of re-financing remedies so make certain do your research before you decide to make investments. This site is here to help
HSH.com Weekly Mortgage Rate Radar: Nearly Level Mortgage Rates Present Opportunity
Foster City, CA (PRWEB) December 07, 2011
Rates on the most popular types of mortgages moved in different directions but remained nearly flat, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages fell by 5 basis points (0.05 percent) to 4.13 percent. Conforming 5/1 hybrid ARM rates increased by 3 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.03 percent.
“Mortgage rates remained fairly steady over the past week,” said Keith Gumbinger, vice president of HSH.com. “More effort is being made to address the fiscal crisis in Europe, and moderate economic growth seems more firmly in place domestically. Investors seem to be pleased with both trends, and the result was a calmer market for a change.”
Flat mortgage rates and calm market conditions are important, noted Gumbinger. “Busy holiday seasons leave folks little time to react to buying and refinancing opportunities. Mortgage rates on an even keel allows more time for borrowers to take action without fear of missing out.”
Average mortgage rates and points for conforming residential mortgages for the week ending December 6 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 4.13 percent
Average points: 0.26
Conforming 5/1 ARM
Average rate: 3.03 percent
Average points: 0.21
Average mortgage rates and points for conforming residential mortgages for the previous week ending November 29 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 4.18 percent
Average points: 0.29
Conforming 5/1-year ARM
Average rate: 3.00 percent
Average points: 0.27
Methodology
The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.
Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.
About HSH.com
HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.
Press Contact
Andrew Heilman
775-784-3842
pr(at)hsh(dot)com
###
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Related Refinancing Press Releases
However refinancing can be a wise course of action in both good and bad real estate markets. It can be vital to know issues associated with refinancing, when it might help plus anything you absolutely need to avoid. This can be a somewhat confusing if you are having their first go at this task but the info you can find below will be helpful .
The National Mortgage Complaint Center Offers Smart Tips for Anyone in the United States Wanting to Refinance of Finance a Home & Suggests Honest Lenders
At this moment many people are thinking about doing something different with a mortage as a consequence of these challenging financial times.
There are a variety of re-financing solutions so make certain do your research before you decide to commit. The information you find here should help
The National Mortgage Complaint Center Offers Smart Tips for Anyone in the United States Wanting to Refinance of Finance a Home & Suggests Honest Lenders
(PRWEB) December 05, 2011
The National Mortgage Complaint Center says, “After the Dodd Frank Consumer Protection Act, one would think everything would be better for US homeowners. In our opinion the Dodd Frank legislation with respect to the mortgage industry did nothing. As an example the new Good Faith Estimate designed by the US Department of Housing and Urban Development looks like something that the IRS came up with. The new Good Faith Estimate is too complicated, it leaves too much information out, and the old one page Good Faith Estimate was much easier to read, and to understand.” http://NationalMortgageComplaintCenter.Com
The National Mortgage Complaint Center says, “At this moment we have some of the lowest interest rates ever. However, we want to make sure every homeowner, or home buyer understands what they are getting. First we want to cover the no point mortgage, versus the regular fees included mortgage transaction. The no point mortgage is only a good option, if you do not have the money, or equity in your home to actually do the transaction. With the no point, or zero closing cost mortgage you will pay a higher interest rate, and monthly payment. When it comes to deciding if you want a traditional mortgage where you pay the costs, versus a no closing cost mortgage, simply ask the mortgage lender, or the bank, what are the best rates for a traditional mortgage-where you pay the costs up front, versus a non traditional mortgage where the lender pays all allowable closing costs. We want anyone looking at buying, or refinancing a home to know this information, and we want everyone to at least look at both options.” http://NationalMortgageComplaintCenter.Com
The National Mortgage Complaint Center suggests the following fees are junk mortgage fees:
Administrative Fee
Excessive Underwriting Fee
Document Preparation Fee on the mortgage, or in association with title insurance
Credit Report Fees that are over are excessive
Who does the National Mortgage Complaint Center recommend as the best lenders in the United States?
American Interbanc (California, Washington, Oregon, Idaho, Massachusetts, New Jersey, Pennsylvania, Utah only) The National Mortgage Complaint Center & its parent group Americas Watchdog has endorsed American Interbanc for five years in a row, as the best mortgage lender in the United States. http://AmericanInterbanc.Com
Bank of America-According to the National Mortgage Complaint Center, “Believe it or not we actually like Bank of America’s mortgage products, and of all major US banks, Bank of America would be the only lender to receive our endorsement. However, there is a catch. We like Bank of Americas mortgage products offered at a branch, where the consumer, or homeowner can actually see the loan officer, or branch manager, and it is a branch in your area.” http://BankofAmerica.Com
For FHA, or VA Mortgages the National Mortgage Complaint Center continues to endorse, and recommend the James B Nutter Company. The James B Nutter company is a national mortgage lender based in Kansas City, Missouri, they are family owned, and they are the gold standard for honest FHA, or VA mortgage lenders. http://JamesBNutter.Com
###
Attachments
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Related Mortgage Refinancing Press Releases
Never the less refinancing could be a wise course of action both in difficult and easy financial times. You need to understand what is needed for re-financing, when it might be appropriate and what you absolutely need avoiding. This is a somewhat tricky if you're new at all to this task however the information and facts you can find below will help.
Talk Radio: Mortgage interest rates, foreclosure, refinancing and real estate
Currently many of us are considering doing something different with a mortage thanks to these challenging financial times.
There are many of home refinancing possibilities so make sure to do your research before you decide to make a decision. This site is here to help
Talk Radio: Mortgage interest rates, foreclosure, refinancing and real estate.
Deb Buenting from Bankers Trust explains the initial steps in getting your home refinanced.
Of course refinancing can be a wise course of action in both good and bad financial times. It is crucial to learn issues a part of refinancing, when it can be useful in addition to all you need to avoid. This can be a little complex should you be new at all to this task but the details you will discover below can help.
You are currently browsing the www.azrefiinfo.com blog archives for December, 2011.