In the past when the Federal Reserve cut the discount rate it translated into lower mortgage interest rates for home buyers. This was a convenient way for the Federal Reserve to stimulate the economy during economic slowdowns. By making it easier for people to get loans more cash was pushed into the economy. But … [...]
After several weeks of staying relatively flat mortgage interest rates jumped up this week. 30 Year mortgage went from 6.09 to 6.32. 15 Year Mortgage moved from 5.65 to 5.93. 5 Year rates went from 5.51 to 5.70. The only rate that was somewhat stable was 1 Year Arms which went … Read More Mortgage [...]
Former Fed Chief Alan Greenspan made common the adage “conundrum.” When it comes to predicting mortgage rates, a person will also experience a similar type of conundrum. The country is now having a tug of war unfold between two tremendous forces that control mortgage rates. Each is pulling in a unrelated path. Correctly determining which [...]
It used to be the first choice of majority borrowers, because since the total payments are spread over a longer range of time with the mortgage interest rates set for the entire time of mortgage. 30 year home loan rates are an industry standard but is it the right option for you? As we discussed, [...]
