Fed Cuts Rates, Rates Stay Flat
- By:
- Paul King | February 01, 2008
Rates in general, however are still much lower than a few months back, when the 30 year fixed rate mortgage peaked at 6.29% in early November. The opportunity to refinance is still there for many homeowners, but the prospects of an increase to the conforming loan amount and an increase to the FHA maximum loan limit will also bring many more new consumers back to the closing table.
The half percent rate cut that happened at the FOMC meeting was widely expected and caused no impact on the market rates. Mixed ecomomic news toward the end of this week have cause rates to stay relatively unchanged.
The immediate beneficiaries of the rate cuts will be the millions of homeowners who have home equity loans. Home Equity Line of Credit (or HELOC) loans will likely fall 1.25% next month, as most are tied to the prime rate. The Fed, by lowering rates, is hoping to encourage these consumers to spend and borrow more, putting live back into what they and many others feel is a troubled economy.
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Mortgage Rates Volatile, but Flat
- By:
- Bill Rice - MortgageLoan.com | December 03, 2008
Lots of volatility today, reflecting the equity market volatility.
Mortgage Rates Stuck Again
- By:
- Bill Rice - MortgageLoan.com | December 02, 2008
Although mortgage rates descended to a new low in the past week, they are now stuck at these new levels.
Strong Black Friday May Lift Mortgage Rates
- By:
- Bill Rice - MortgageLoan.com | December 01, 2008
Off a stronger than expected Black Friday and weekend of holiday weekend retail sales mortgage rates may lift.
Mortgage Rates Down 0.75%
- By:
- Bill Rice - MortgageLoan.com | November 26, 2008
Mortgage rates dive nearly a full percent. The 30-year fixed-rate mortgage drops to 5.5 percent in one of the largest single-day dips since 1988.
Mortgage Rates Flat
- By:
- Bill Rice - MortgageLoan.com | November 24, 2008
Mortgage rates closed last week relatively flat. You can expect a similar result on this short week.
Mortgage Rates Will Move
- By:
- Bill Rice - MortgageLoan.com | November 19, 2008
Expect significant mortgage rate movement today with the release of CPI.
Mortgage Rates Drop
- By:
- Bill Rice - MortgageLoan.com | November 14, 2008
Mortgage rates drop again for the second straight week.
TARP Redirect Plunges MBS
- By:
- Bill Rice - MortgageLoan.com | November 13, 2008
US Treasury Secretary Paulson's sharp redirection on the objective of the TARP funds had a dramatic effect on overnight markets and the MBS market.
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