Foster City, CA (PRWEB) May 16, 2012
Rates on the most popular types of mortgages retreated to new record lows, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages fell by 6 basis points (0.06 percent) to 3.91 percent. Conforming 5/1 hybrid ARM rates decreased by 5 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.85 percent.
?A deepening economic slump overseas is forcing mortgage rates downward, as investors once again seek a haven for their money in the relative safety of U.S.-backed debt,? said Keith Gumbinger, vice president of HSH.com.
A worsening financial and political crisis in Greece has led to speculation that the country might exit from the eurozone. This would destabilize the currency and risk tipping Spain and Italy into deeper crises of their own.
“A troubled world is good for U.S. homebuyers and homeowners, at least for now,” added Gumbinger. “However, difficulties overseas are likely to slow our already muted pace of growth this summer, making it even harder to keep our own recovery moving forward. Ultimately, that benefits no one.”
Average mortgage rates and points for conforming residential mortgages for the week ending May 15 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 3.91 percent
Average points: 0.27
Conforming 5/1-year adjustable-rate mortgage
Average rate: 2.85 percent
Average points: 0.22
Average mortgage rates and points for conforming residential mortgages for the previous week ending May 8 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 3.97 percent
Average points: 0.24
Conforming 5/1-year adjustable-rate mortgage
Average rate: 2.90 percent
Average points: 0.21
Methodology
The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com?s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar?s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.
Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.
About HSH.com
HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH?s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.
Press Contact
Andrew Heilman
775-784-3842
pr(at)hsh(dot)com
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Considering US Bank Mortgage Rates When Purchasing or Refinancing A Home
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Considering US Bank Mortgage Rates When Purchasing or Refinancing A Home – Finance – Mortgage
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This is a story of my friend LopezMy recent journey of scouting around for the best mortgage loan out there today brought my friend, Lopez to countless banks and financial institutions. The lending rates that were offered by many banks were competitive, yet each package had its own drawback. For instance one charged extremely high processing fees, while the other included an exceptionally high pre-payment penalty in the case of Lopez refinancing the property within the first three years. His journey nevertheless ended when he discovered US Banks mortgage loan solutions that offered not only highly-competitive loan rates, they also offered a flexible online-based banking system that made it easy for him to complete transactions and make payments. The US Bank mortgage rates were easily amongst the lowest in the market today. And thus he saw no reason not to opt for one of the most complete and flexible mortgage loan packages in existence today that came with attractively low US Bank mortgage rates.
US Bank home mortgage loans are offered by US Bank, a financial institution that has more than 3,000 branches nationwide, and is famed for its top-of-the-line customer service team. Regardless of whether you are a first-time home buyer, or one that is looking for a mortgage refinance package, the US Bank should be able to offer you several alternatives to help you with your decision. US Bank is headquartered in Bloomington, Minnesota and serves several other states in a list that includes California, Ohio and Michigan. Probably the main advantage of US Bank mortgages is the existence of its ultra-useful website that offers plenty of benefits for its clients. Mortgage financing and planning is made easy with numerous online tools on this website that help clients and potential customers immensely in making decisions.
There is also an online mortgage calculator that allows you to choose the type of mortgage loan that you prefer, and helps you calculate your eventual monthly payment. For the record, US Bank offers a variety of mortgage loans for your benefit. The types of mortgage loans offered include fixed interest rate mortgage loans (30-year, 20-year, 15-year and 10-year loans), FHA-endorsed fixed interest rate loans (30-year and 15-year loans), adjustable-rate mortgage (ARM) loans and also jumbo fixed-rate home loans (for 30-year and 15-year tenures). Once you obtain a home loan from US Bank, you would then be able to proceed to pay your mortgage online, as well as view your mortgage statements and payment history simply by visiting US Banks website.
The existence of this online banking service from the financial institution has helped make life easier for many borrowers out there who can now complete their transactions from the comfort of their own homes or offices. Apart from the easy-to-use website, US Banks customer service team is also highly-accomplished, and would prove to be a pleasure to work with. Some may complain that US Bank charges high processing fees for their mortgage loan applications, but I guess the money is well-spent when you consider that the service that you receive in return proves to be top-notch.
If you are looking to refinance your home, refinancing US Bank loan packages are also available for your benefit! Refinancing allows you to garner a lower interest rate and lower your monthly repayment amounts for your mortgage loan, if you succeed in obtaining a competitive home refinancing package. You could also borrow against the equity that you have within your home, and obtain cash or a credit line from the equity that you own. US Bank offers streamline refinancing options, cash-out refinancing solutions as well as conventional refinance packages for those that require them. Streamline refinance packages prove to be the quickest and most convenient way to refinance your home, while the cash-out refinancing packages allow you to take advantage of the equity that you own in your home. On the other hand, some people still prefer conventional refinance packages that generally assist you in lowering your mortgage loan interest rate, and subsequently your overall mortgage payment.
Visit US Banks user-friendly website to find out more on the mortgage financing and refinancing solutions that are offered by the bank. All the best in finding the ideal mortgage solution for you and your home!
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Question by cardinalfanusa: Mortgage rates?
I keep hearing that mortgage rates will probably hold steady until mid-2008. They’ve already increased from 6.15 to 6.75 in the past 6 weeks. I’m building a house, and won’t be able to lock in a mortgage rate until probably mid-August. Should I “buy” my mortgage rate at 6.75% now for $ 750, or should I hold off?
What are the odds that rates will top 7.25% within the next three months?
Best answer:
Answer by achievablemortgages
If you can lock at that rate right now for 750.00, my advise would be to do it. No one has a crystal ball, but rates show no signs of falling any time soon. As you stated previously, rates have risen by over .5% in the last couple months. Take the bird in the hand. It’ll give you peace of mind.
Know better? Leave your own answer in the comments!
Crazy New Govn’t Refi Program For Underwater Homeowners
Harp 2.0 Step By Step Guide Homeowners Underwater On Their Mortgage Can Now Refinance Into 3% Rates, No Appraisal Required. This Ebook Gives Everything You Need To Know! Great Conversion Potential In This Target Market!
Crazy New Govn’t Refi Program For Underwater Homeowners
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Mortgage refinance rates – The refinancing rate mortgage is determined by many factors
Most people refinance their mortgages to be so for one of two reasons. Or get a lower interest rate or debt consolidation. Regardless of why they want the best borrowers refinancing rate mortgage refinancing that they qualify in. Although the radio and newspapers are full of low mortgage rates display How do you know if they actually benefit?
In most cases, if your> Rate Loan is never late and 30 days are familiar with 90% of your home-equity valuation, there will be a good opportunity to qualify for a mortgage low. However, the history mortgage is not the only factor to determine the rate of mortgage refinancing. His story is of consumer loans also play a role in the rate of loan, the debt / income.
Most loans will be denied in accordance with when the debtor is late in consumer loans for manyPayments for their credit record.
This means that for every 30 days late paying credit cards, which are entered on your credit report lower your chances for a low interest rate significantly.
Your debt / income is another important factor in loan rates for the bass part allowed. Your debt to income is substantially bills, including the number of credit cards, store cards, auto loans and mortgages are added and divided by your grossIn profit before tax. An acceptable figure is about 42%, but some banks may be up to 50% with good cash reserves in a bank account or retirement account.
While there are many other factors to determine the velocity are just some of the big ones. But the opportunities for the best price
Watch Eric Newman’s commentary on what is happening in the mortgage industry with interest rates for home loans. Rates at 2011 lows right now. Apply online at www.GoNorthwestLoans.com, or call 503.698.5801
Video Rating: 5 / 5
Mortgage rates are the lowest on record. But by a key historical measure, they should be even lower, Matt Phillips reports on Markets Hub.
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Foster City, Calif. (PRWEB) May 09, 2012
Rates on the most popular types of mortgages held near record lows, according to HSH.com’s Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages was unchanged, remaining at 3.97 percent. Conforming 5/1 Hybrid ARM rates decreased by two basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at average 2.90 percent.
“Employment gains have flagged over the past couple of months, casting some doubt about the strength of the recovery,” said Keith Gumbinger, vice president of HSH.com. “There’s little indication of any strengthening of economic growth at the moment, and it appears that investors have shifted some attention from stocks to bonds of late, pushing rates lower.”
In 2011, after a winter growth spurt, the economy faded into the summer and fall. At this point, it is unclear if we have entered a repeat of that pattern.
“Is this a soft patch in an otherwise upward trend, or are we on the kind of path which prompts the Federal Reserve to additional action? It’s too soon yet to know,” said Gumbinger. “At present, no plan has been announced, but Operation Twist–the Fed’s existing program–expires at the end of June. Between now and then, if things show scant improvement, we might set a few more record lows for mortgage rates.”
Average mortgage rates and points for conforming residential mortgages for the week ending May 8 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average rate: 3.97 percent
Average points: 0.24
Conforming 5/1-year adjustable-rate mortgage
Average rate: 2.90 percent
Average points: 0.21
Average mortgage rates and points for conforming residential mortgages for the previous week ending May 8 were, according to HSH.com:
Conforming 30-year fixed-rate mortgage
Average Rate: 3.97 percent
Average Points: 0.24
Conforming 5/1-year adjustable-rate mortgage
Average Rate: 2.92 percent
Average Points: 0.19
Methodology
The Weekly Mortgage Rates Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com?s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rates Radar?s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.
Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.
About HSH.com
HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH?s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in ethical marketing practices. For more information, please visit QuinStreet.com.
Press Contact
Andrew Heilman
775-784-3842
pr(at)hsh(dot)com
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