04 Mar 2013
By Mark Feder
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What’s Ahead For Mortgage Rates This Week: March 4th, 2013

Mortgage Rates
U.S. Budget Stalemate, Italian Elections Stir Concerns Mortgage rates were lower last week as investors sought safety in bonds in the wake of US legislators' failure to agree on budget cutbacks, and after Italy’s elections failed to reveal a leader committed to continuing economic reform. When bond prices including Mortgage Backed Securities rise, mortgage rates typically fall. While the March 1st deadline for passing budget cutbacks for the U.S. government passed without a resolution, emergency legislation passed last year will keep the government running until March 27. If a budget is not passed by then, the federal government could face…
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25 Feb 2013
By Mark Feder

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

Mortgage Rates
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 percent with borrowers paying 0.8 in discount points and all of their closing costs. In…
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11 Feb 2013
By Mark Feder

What’s Ahead For Mortgage Rates This Week: February 11th, 2013

Mortgage Rates
Mortgage rates worsened last week in response to more indications that the U.S. economy and global economic trends are improving. Global economic data was stronger than expected; which generally boosts investor confidence and leads to higher mortgage rates in California and across the country. According to Freddie Mac, the average rate for a 30-year fixed rate mortgage was 3.53 percent with borrowers paying all of their closing costs and 0.8 percent in discount points along with a full complement of closing costs. The U.S Department of Commerce reported that Factory Orders for December improved over November; they rose from 0.0…
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04 Feb 2013
By Mark Feder

What’s Ahead For Mortgage Rates This Week : February 4, 2012

Mortgage Rates
Mortgage rates worsened last week amid evidence of an improving economy. Conforming mortgage rates climbed in Illinois and nationwide, rising to a 4-month high. Freddie Mac has the average 30-year fixed rate mortgage rate at 3.53% for borrowers willing to pay 0.7 discount points plus a full set of closing costs. There was plenty of news on which for rates to move last week. First, the Federal Open Market Committee (FOMC) met and voted to hold the Fed Funds Rate in its current target range near 0.00 percent. The Fed also recommitted to purchasing mortgage-backed securities (MBS) and Treasury securities…
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