Current Mortgage Interest Rates and Predictions For 2009 [mortgageprotectiontips.blogspot.com]
Question by Adam: Is there a good web site that shows me how the most current mortgage interest rates are? I'm in escrow and waiting to lock in on my loan. My lender said the rates killed me today as it went up a bit. Is there a good way to track this online so I can see what the most current rates are doing? Best answer for Is there a good web site that shows me how the most current mortgage interest rates are?:
Answer by Alterfemego
try bankrate.com
Answer by troseilnana
I thought the Feds cut them again today..so you may want to wait a day or so before locking.
Answer by golferwhoworks
no not really as the rates can be published as many times a day as the market dictates. I watch the market for certain trends and I knew we were getting an increase today around 10:00 a.m. about an hour before they were published. I have several that I did not lock as I think they will float back down. Also the FED Funds rate does not as some people who think they are in the know about have any thing other than residual effects on mortgage rates as it is only a trickle down effect and can take a month for that to happen. Fed Funds is between banks as an over night loan and the rate is 1.5% now. That makes for inflation across the board. The Market must correct. I am a mortgage banker in TN & KY as well as a former registered principal in investment banking
Answer by John Meussner
Bankrate isn't a great source, as my rates are always better than what they offer, and rates can change on a whim (we had 4 reprices today w/most of my lenders). Also, the Fed cutting the rate usually forces rates upward, as inflation becomes a concern, and mortgage bonds hate inflation...this is not the case this time as there was a global rate cut to stave off inflation. Your best bet is to have a lender/broker you can trust. One thing about being with a bank is that once you're locked in, you're locked in. With a broker, you can switch lenders if pricing improves. They were right in that rates took a large hit today, but things should settle down and go right back to where they were shortly...possibly even lower as the election gets closer (funny how that works).
Answer by MikeyZ
www.zillow.com gives you average rates as reported by lenders nationwide. I found it to be an excellent indicator of what rate you can get and when. Click on the "Mortgages" tab at the top, followed by the "Mortgage Rates & Charts" tab on the right. Trends for 30- and 15-yr fixed, and 5/1 ARM are tracked by latest day, week, month and three-month. Latest day rates are updated hourly. Be sure to click the "quote volume" checkbox, as the higher quote volumes are more indicative of higher reliability of the current rate. Accept no substitutes. Good luck, work hard, and stay away from drugs.
www.churchillmortgage.com Current Mortgage Interest Rate Market Update from
mortgageprotectiontips.blogspot.com Churchill Mortgage Interest Rate Market Update - Jan 30, 2012
Either way, it looks as though there will be upward pressure on mortgage rates today. Two pieces of domestic ... Washington Post: Joe Paterno, at the End, Showed More Interest in His Legacy Than Jerry Sandusky's Victims. I hope that Penn State gets ... Current Mortgage Rates for Friday, July 13, 2012
Here are my mortgage rate predictions for 2009. Always remember though that this is a prediction and that no one know 100% for sure what will happen. However, there is some good information out there to make a prediction from. With that said, here are my home mortgage rates predictions for 2009.
Refinancing or getting a home loan modification at the lowest interest rate is the best way a homeowner can save a lot of money every month on their mortgage. Earlier in the year, homeowners flocked to take advantage of a 4.69% mortgage rate and refinance or modify their mortgages. A lot of homeowners pay 9% or more in interest rates, and the rate offered earlier in the year was a great chance to save a lot of money. Recently though, a .5% increase in mortgage rates was enabled. I thought this would happen as a result of banks and mortgage lenders being overwhelmed with paperwork and customers looking to save their home from foreclosure, or take advantage of the ultra low interest rates.
The paperwork quickly piled up, and the rates were increased to help curb the flow of mortgage refinancing and modification applications. Increasing the rates by .5% stopped homeowners from applying unless they were truly in need of saving their home. I think though, and this is where my predictions begin, that mortgage rates will drop to their prior lows, and soon.For mortgage rates in 2009, I predict that the current mortgage rate of 5.19% will be reduced by .5% to match their prior lows of 4.69% for a 30 year fixed rate home mortgage. I think that this will happen around the middle of October this year, 2009. These rates should last until about April 2010. The rates will be lowered due to mortgage lenders and banks being ready to take on new customers and refinancing or mortgage modification applications.
If you can, I think you should wait to refinance or get a modification until the middle of October of this year, and see where the rates are at.
However, if you are facing financial hardships, or are in danger of losing your home, take action now. Suggest Current Mortgage Interest Rates and Predictions For 2009 Issues
