24
Jun
10

Record Lows In Mortgage Rates

Average rate for 30-year loan dips below 4.7%

By Inman News, Thursday, June 24, 2010.

Inman News

Rates for most types of mortgages tracked by Freddie Mac hit record lows this week, with 30-year fixed-rate mortgages averaging 4.69 percent with an average of 0.7 point for the week ending June 24.

That’s down from 4.75 percent last week and 5.42 percent a year ago, and beats the previous record set of 4.71 percent set during the week of Dec. 3. Freddie Mac has been tracking rates on 30-year fixed-rate loans since 1971.

Turmoil in financial markets has made mortgage-backed securities that fund most home loans attractive to investors. That,  coupled with slack demand for mortgages, has helped keep rates low.

Rates for 15-year fixed-rate mortgages also hit a new low in records dating to 1991, dipping to 4.13 percent with an average 0.6 point. That’s down from 4.2 percent last week and 4.87 percent a year ago.

Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.84 percent this week, a new low in records dating to January 2005. The 5-year ARM averaged 3.89 percent last week and 4.87 percent a year ago.

The 1-year Treasury-indexed ARM averaged 3.77 percent with an average 0.7 point, down from 3.82 percent last week and 4.93 percent a year ago. That wasn’t a record, but was the lowest rate for 1-year ARMs since May 2004.

Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments. Borrowers taking out loans too large or risky for purchase or guarantee by Freddie Mac can expect to pay more.

Low rates haven’t spurred demand for purchase loans or refinancing. Home sales cooled after the expiration of the federal homebuyer tax credit, and many borrowers who would benefit by refinancing into a loan with a lower rate already have.

A weekly survey conducted by the Mortgage Bankers Association showed demand for loans fell a seasonally adjusted 5.9 percent during the week ending June 18, with demand for purchase loans falling 2.3 percent and demand for refinancings down 7.3 percent.

In a June 11 forecast, MBA economists said they expect rates on 30-year fixed-rate mortgages will gradually rise to an average of 5.4 percent during the fourth quarter of this year, averaging 6 percent in the last three months of 2011 and 6.6 percent in the fourth quarter of 2012.

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10
Oct
09

Real Estate September 2009

Click Link for Video     This Month in Real Estate: September 2009

10
Sep
09

Another KW Milestone!

Another milestone for Keller Williams Realty
Published by Keller Williams Realtyon August 28, 2009

 Mark Willis, CEO, announced today during his state of the company address that Keller Williams is ranked highest by J.D. Powers and Associates for highest overall satisfaction among home buyers for two years in a row! This is proof positive that Keller Williams continues to outperform the industry.

 “Keller Williams is rising to No.1! The longer the downturn lasts, the stronger Keller Williams emerges. Year to date, NAR’s membership has dropped by about 10 percent, while Keller Williams agent count has incresed by 2 percent,” said Willis.

Why is it Keller Williams continues to power ahead in gaining its “unfair share of the market?” States Willis, “Unified training, unified leaders, a unified culture, and a unified economic model.”

27
Jun
09

June Market

09
May
09

Diving At Ellington Airport-part of charity drive

Drive & Dive Red Day

03
Apr
09

Mortgage Rates- As good as it gets

 

 

 

 ward-kilduff

5.125% 30 yr. NO points for 12 days

4.75 % 15 yr. No points for 12 days

5.875% FHA 30yr. 1 point 30 days

6.25% 30yr 1 point for 12 days Investment (3-4 fam)

Market Update

Mortgage rates are “probably as good as it’s going to get” and the housing market is likely to rebound sooner than some forecasts, Freddie Mac interim CEO John Koskinen said.

“Mortgage rates, if they go down at all further, it’s going to be incremental,” Koskinen told reporters yesterday in Washington after he met with President Barack Obama. “Interest rates are probably close to bottoming out, and therefore we are telling people” to buy.

09
Mar
09

March KW Local Class Schedule!

Improve upon, get back on track or learn something new for your real estate business! All Realtors welcome! From ABC’s of Real Estate to enhancing your internet presence with organic marketing!  

Also, do not miss out on our Realtors Masterminds Event on March 16th, at the Rockledge Country Club, West Hartford, 5-7PM!   RSVP to George Renfro 860-727-5295.

 Click on the Link below for the Calendar!

http://www.google.com/calendar/embed?src=laddie00%40comcast.net&ctz=America/New_York

 

 




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