Mortgage rates are artificially right now so even the slightest jolt could cause them to spike. It would be similar to what happened in June 2009 when rates rose 1.125% in just 10 days’ time. Therefore, if you’re shopping for a mortgage and like the rate you’ve been quoted, consider locking in as soon as possible.
All posts for the month July, 2010
What’s Ahead For Mortgage Rates This Week : July 19, 2010
Posted by Phil Denfeld on July 19, 2010
http://phildenfeldmortgage.com/2010/07/mortgage-rates-week-ahead-july-19-2010.html
The Fed’s June Minutes Keep Mortgage Rates In Rally-Mode
At 7,333 words, the June Fed Minutes is the unabridged version of the more well-known, post-meeting press release. The corresponding press release was just 360 words. It turns out, the Fed’s words are doing wonders for mortgage rates.
Posted by Phil Denfeld on July 16, 2010
http://phildenfeldmortgage.com/2010/07/fomc-meeting-minutes-june-2010.html
Foreclosure Activity Slows Again In June 2010
June marks the 16th straight month the filings topped 300,000. 1 in every 411 U.S. homes received some form of notice last month with foreclosure density varying wildly from state-to-state. Like everything else in real estate, it seems, foreclosures are a local phenomenon.
Posted by Phil Denfeld on July 15, 2010
http://phildenfeldmortgage.com/2010/07/foreclosures-june-2010.html
Mandatory Loan Fees Keep Borrowers From Getting Their Absolute Lowest Rate
Conforming mortgage rates may be posting all-time lows this week, but that doesn’t mean you’ll be eligible for them. You may have already called your loan officer and found this out the hard way. It’s because of a federally-mandated mortgage-pricing scheme known as “loan-level pricing adjustments”.
Posted by Phil Denfeld on July 14, 2010
http://phildenfeldmortgage.com/2010/07/loan-level-pricing-adjustments.html
Should You Refinance Your ARM, Or Let It Adjust Lower?
If your adjustable rate mortgage is due to adjust this year, don’t go rushing to replace it just yet. Your soon-to-adjust mortgage rate may actually go lower this year.
Posted by Phil Denfeld on July 13, 2010
http://phildenfeldmortgage.com/2010/07/adjustable-rate-mortgage-libor-summer-2010.html
What’s Ahead For Mortgage Rates This Week : July 11, 2010
Mortgage rates have fallen in 4 consecutive weeks and are on an extended rally that dates back to mid-April. This week, however, data returns and rates could reverse. Especially with inflation numbers are in play.
Posted by Phil Denfeld on July 12, 2010
http://phildenfeldmortgage.com/2010/07/mortgage-rates-week-ahead-july-11-2010.html
The Flawed Home Price Index Shows Home Values Up 0.8 Percent
Last week, the Case-Shiller Index reported home values up 0.8 percent across 20 tracked markets. The public-sector Federal Housing Finance Agency has reached a similar conclusion.
Posted by Phil Denfeld on July 9, 2010
http://phildenfeldmortgage.com/2010/07/home-price-index-april-2010.html
Household Finances : Which Bills Should I Pay First?
Morning television can be “light”, but as far as personal finance interviews go, this Suze Orman segment from The Today Show is loaded with practical financial planning advice.
Posted by Phil Denfeld on July 8, 2010
http://phildenfeldmortgage.com/2010/07/what-should-i-pay-first.html
June’s Jobs Report Wasn’t As Bad As The Headlines (And How You Can Take Advantage)
At first glance, the June jobs report looks weak but a deeper look shows something different.
Posted by Phil Denfeld on July 7, 2010
http://phildenfeldmortgage.com/2010/07/jobs-report-june-2010.html
What’s Ahead For Mortgage Rates This Week : July 6, 2010
Last week — again — mortgage rates improved and Freddie Mac is now reporting new all-time lows on three popular, conforming loan products. Here’s what’s in store for *this* week.
Posted by Phil Denfeld on July 6, 2010
http://phildenfeldmortgage.com/2010/07/mortgage-rates-week-ahead-july-6-2010.html
