Tag Archives: mortgage rates

Should I Lock Or Float This Week : June 24, 2013

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Mortgage_Market_on_June_25thHave you ever been on a roller coaster? Not the little one that comes to your state fair every year, but the big one that you spend days preparing yourself for that inevitable ride of your life. Well, comments by Fed chairman Ben Bernanke after last week’s FOMC meeting caused quite the upheaval in financial markets, and put investors on the proverbial roller coaster, as they anticipated the potential effects of any rollback of the Fed’s policy of quantitative easing (QE). Chairman Bernanke said that the Fed may begin reducing its $85 billion monthly purchase of Treasury securities and MBS toward the end of this year. Continue reading →

Should I Lock Or Float This Week : May 13, 2013

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Over the past 7 trading days, Mortgage rates were wounded with 2 of the largest one-day spikes in over 2 years. Rates rose last week with average rates a 30-year fixed rate mortgage rising from last week’s 3.35 percent to 3.42 percent with buyers paying all closing costs and 0.7 percent in discount points.

We are in a definite “locking” bias at the moment. As I am publishing this blog, rates are still trending worse this Monday morning. Continue reading →

Should I Lock Or Float This Week : April 29, 2013

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Mortgage rates fell again last week and are again near record lows.

According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago.

The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent.

Low mortgage rates are helping homeowners with refinancing and are boosting housing markets as more buyers can qualify for mortgage loans. Continue reading →

What Mortgage Rates Are Doing This Week :February 11th, 2013

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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 Sacramento and across the country.

We may see a reversal of this trend in the short-term because the stock market remains overbought and ready to retrace, the obvious question is when? With little economic news this week, there is no reason the stock market should improve or interest rates should change much. Until the stock market retreats, U.S. interest rates are not likely to decline much. Continue reading →

Take Advantage of 2012 Tax Breaks Courtesy of The Fiscal Cliff Negotiations

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2012 Tax Breaks!

There was plenty of discussion and debate leading up to the New Year’s looming “fiscal cliff”. Ultimately, the event was avoided (for now), but not before legislation was passed which may benefit homeowners in Sacramento and nationwide.

If you have yet to file your 2012 taxes, take a minute to review the tax limitations and credit extensions, which Congress passed through the HR 8 legislation. You’ll want to make sure you’re paying the proper tax bill come April 15. Continue reading →