Mortgage Rates Back on the Rise Rates for 30-year fixed mortgages rose to 4.39 percent this week from 4.17 percent a week ago, and average interest on 15-year loans moved to 3.76 percent from 3.57 percent, said Freddie Mac.
Interest for five-year adjustable-rate mortgages jumped to 3.4 percent from 3.25 percent, meanwhile, and one-year ARMs held at 3.26 percent. Rates have climbed along with long-term Treasury yields as traders unloaded Treasurys purchased before the Federal Reserve announced a $600 billion bond purchase program.
Source: Chicago Sun-Times (11/19/10)
Analysts Say Housing Is Better But Still Fragile Analysts are saying that low interest rates and low prices could encourage more people to buy homes soon or refinance the ones they have.
"In most markets, the crash is over and stability is beginning," said Joel Naroff at Naroff Economic Advisors. "[Real Estate practitioners] are saying it isn't great, but it's better than last year. If refinancings get going, that will help consumer confidence."
Mark Zandi, chief economist of Moody’s Analytics, sees it slightly differently. He thinks lower mortgage rates aren’t going to stop home prices from falling further. "The housing market is still really fragile," Zandi said.
Source: USA Today, Stephanie Armour (11/11/2010)
Interest for five-year adjustable-rate mortgages jumped to 3.4 percent from 3.25 percent, meanwhile, and one-year ARMs held at 3.26 percent. Rates have climbed along with long-term Treasury yields as traders unloaded Treasurys purchased before the Federal Reserve announced a $600 billion bond purchase program.
Source: Chicago Sun-Times (11/19/10)
Analysts Say Housing Is Better But Still Fragile Analysts are saying that low interest rates and low prices could encourage more people to buy homes soon or refinance the ones they have.
"In most markets, the crash is over and stability is beginning," said Joel Naroff at Naroff Economic Advisors. "[Real Estate practitioners] are saying it isn't great, but it's better than last year. If refinancings get going, that will help consumer confidence."
Mark Zandi, chief economist of Moody’s Analytics, sees it slightly differently. He thinks lower mortgage rates aren’t going to stop home prices from falling further. "The housing market is still really fragile," Zandi said.
Source: USA Today, Stephanie Armour (11/11/2010)
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