BarkRealty.com
 

Mailing List
 


Latest Listings
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
Beauty and the Beach!... Delightful, Direct Gulf Front, 2 bedroom/1 bathroom corner condo on beau...
>> More

Key Royale Boat Dock, Holmes Beach, Florida 34217
Key Royale Boat Dock, Holmes Beach, Florida 34217
SOLD: Here is a great opportunity to own a rarely available 16' wide boat slip on a Key ...
>> More

8027 Marina Isles Lane, Holmes Beach, Florida 34217
8027 Marina Isles Lane, Holmes Beach, Florida 34217
SOLD: Dolphin Watch . . . an exclusive and serenely private, luxury, bay front residence of ...
>> More

907 North Shore Drive, Anna Maria, Florida 34216
907 North Shore Drive, Anna Maria, Florida 34216
SOLD: Old Florida charm opens to big, beautiful, bay views from this 3 bedroom / 3 bathroom ...
>> More

6 Lakeview Place, Anna Maria, Florida 34216
6 Lakeview Place, Anna Maria, Florida 34216
Tucked away on a quiet cove off Lake La Vista in the village of Anna Maria is this magnificently ...
>> More



Mortgage Rates Hit Lowest Level In Decades

house_sold

By ALAN ZIBEL, AP Real Estate Writer

WASHINGTON – Mortgage rates dropped to the lowest level in decades for the sixth time in seven weeks, offering the most attractive opportunity for those who qualify to refinance or purchase a home.

Government-controlled mortgage buyer Freddie Mac said Thursday that the average rate for 30-year fixed loans this week was 4.49 percent, down from 4.54 percent last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on the 15-year fixed loan dropped to 3.95 percent, down from 4 percent last week and the lowest on record.

Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.

The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

Low rates have sparked some activity in the weak housing market, but not a massive boom in refinancing.

Applications to refinance loans increased 1.3 percent and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association.

READ MORE


Leave a Comment
  • Share/Bookmark

Mortgage Rates Drop to Lowest Level In Five Decades

Alan Zibel
The Associated Press
July 2, 2010

WASHINGTON – July 2, 2010 – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.

mortgagerateart

That’s down from the previous record of 4.69  percent set last week and the lowest since the  mortgage company began keeping records in 1971.  The last time they were cheaper was the 1950s, when  most long-term home loans lasted just 20 or 25  years.

Rates have fallen over the past two months. Investors wary of the European debt crisis and the stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury’s.

On Wednesday, the yield on the benchmark 10-year Treasury note dropped to 2.95 percent. That was the first time it has fallen below 3 percent since April 2009, when the markets were beginning to recover from the financial crisis.
Read more


1 Comment
  • Share/Bookmark

Mortgage Rates Retreat To 6-Week Low

McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.

The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.

The average rate for 30-year fixed-rate mortgages was 5 percent this wee

The average rate for 30-year fixed-rate mortgages was 5 percent this week

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers.

The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.

The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
This week, the average rate on a 15-year fixed-rate mortgage was 4.36 percent, down from last week when it averaged 4.39 percent.
Rates on five-year, adjustable-rate mortgages averaged 3.97 percent, down from 4 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.07 percent from 4.25 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 of a point for 30-year, 15-year, and 5-year loans, and 0.6 of a point for 1-year loans.
Freddie Mac: Mortgage rates sink to 6-week low
McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.
The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.
Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent

Leave a Comment
  • Share/Bookmark

Rates on 30-Year Loans Rise to 5.21%

By Alan Zibel, Associated Press real estate writer

WASHINGTON (AP) – April 9, 2010 – Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.

Interest Rates Hit 8-month High

Interest Rates Hit 8-month High

The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.

Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended last week, but the Fed left the door open to reviving the program if the economy weakens.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.

Treasury yields have climbed steadily in recent weeks because of weak demand. The government has had to offer a better interest rate to sell its bonds as investors shift toward stocks and riskier corporate debt.

The 10-year yield rose above 4 percent on Monday for the first time since June, but fell back to 3.85 percent on Thursday.

This week, the average rate on a 15-year fixed-rate mortgage was 4.52 percent, up from 4.39 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 4.25 percent, up from 4.1 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.14 percent from 4.05 percent.

The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.

The nationwide fee for loans in Freddie Mac’s survey averaged 0.6 of a point for 30-year, 15-year and 5-year loans and 0.5 of a point for 1-year-loans.

WASHINGTON (AP) – April 9, 2010 – Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.
The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.
Rates had dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended last week, but the Fed left the door open to reviving the program if the economy weakens.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
Treasury yields have climbed steadily in recent weeks because of weak demand. The government has had to offer a better interest rate to sell its bonds as investors shift toward stocks and riskier corporate debt.
The 10-year yield rose above 4 percent on Monday for the first time since June, but fell back to 3.85 percent on Thursday.
This week, the average rate on a 15-year fixed-rate mortgage was 4.52 percent, up from 4.39 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.25 percent, up from 4.1 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.14 percent from 4.05 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac’s survey averaged 0.6 of a point for 30-year, 15-year and 5-year loans and 0.5 of a point for 1-year-loans.
Copyright © 2010 The Associated Press, Alan Zibel, AP real estate writer.

Leave a Comment
  • Share/Bookmark

It’s Not If Interest Rates Will Rise But When

There may never be a better time to buy property than right now.  The home-buyers tax incentive expires at the end of April.  Real estate prices are low due to excess inventory and many economists are predicting interest rate hikes in the coming weeks and months.
_________________________________________________________________________________

COLLEGE STATION, Texas – Feb. 1, 2010 – According to Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, mortgage interest rates are low right now but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.

increasing interest rates

Future Interest Rates

Dotzour says that mortgage rates were low at the end of 2009 because “the global consensus among bondholders appeared to be that inflation will remain low in the United States for an extended period. This caused the ten-year U.S. Treasury rate to fall to between 3.2 and 3.6 percent for much of the second half of 2009.”

With extraordinary levels of federal deficit spending, Dotzour says it is unlikely that the low-inflation scenario will be popular when the economy starts to rebound. Consumers should expect mortgage rates to rise when signs of improvement appear.

A second factor contributing to the low mortgage rates is the Federal Reserve Bank’s unprecedented purchase of nearly all the mortgage-backed securities issued by Fannie Mae and Freddie Mac in 2009, he adds. Totaling more than $1 trillion for the year, this program has been extended through the end of March 2010.

“The Fed has never done this before in its history,” says Dotzour. “They are doing this to stimulate the economy by keeping mortgage rates as low as possible. When the Fed stops buying these securities from Fannie and Freddie, mortgage rates are likely to increase, and possibly quite abruptly.”

How far will rates go up when the Fed terminates its buying program? Dotzour says that question is difficult to answer precisely because this has never been done before; but many experts think that rates could move up one-half to 1 percent.

“The combination of extraordinarily low mortgage rates and current price levels are making homes extremely affordable to American families. In fact, national and Texas housing affordability indices indicate that homes are more affordable than ever. But this will not last. When the economy recovers and the Fed stops purchasing mortgages, rates will rise.”

It’s not if interest rates will rise but when
COLLEGE STATION, Texas – Feb. 1, 2010 – According to Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, mortgage interest rates are low right now but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.
Dotzour says that mortgage rates were low at the end of 2009 because “the global consensus among bondholders appeared to be that inflation will remain low in the United States for an extended period. This caused the ten-year U.S. Treasury rate to fall to between 3.2 and 3.6 percent for much of the second half of 2009.”
With extraordinary levels of federal deficit spending, Dotzour says it is unlikely that the low-inflation scenario will be popular when the economy starts to rebound. Consumers should expect mortgage rates to rise when signs of improvement appear.
A second factor contributing to the low mortgage rates is the Federal Reserve Bank’s unprecedented purchase of nearly all the mortgage-backed securities issued by Fannie Mae and Freddie Mac in 2009, he adds. Totaling more than $1 trillion for the year, this program has been extended through the end of March 2010.
“The Fed has never done this before in its history,” says Dotzour. “They are doing this to stimulate the economy by keeping mortgage rates as low as possible. When the Fed stops buying these securities from Fannie and Freddie, mortgage rates are likely to increase, and possibly quite abruptly.”
How far will rates go up when the Fed terminates its buying program? Dotzour says that question is difficult to answer precisely because this has never been done before; but many experts think that rates could move up one-half to 1 percent.
“The combination of extraordinarily low mortgage rates and current price levels are making homes extremely affordable to American families. In fact, national and Texas housing affordability indices indicate that homes are more affordable than ever. But this will not last. When the economy recovers and the Fed stops purchasing mortgages, rates will rise.”
To read more on the subject, see Dotzour’s article “Rate Expectations” in the January 2010 issue of Tierra Grande magazine at http://recenter.tamu.edu/tgrande/It’s not if interest rates will rise but when
COLLEGE STATION, Texas – Feb. 1, 2010 – According to Dr. Mark Dotzour, chief economist for the Real Estate Center at Texas A&M University, mortgage interest rates are low right now but don’t expect that to last. When the government quits buying mortgage-backed securities, rates will head up and away.
Dotzour says that mortgage rates were low at the end of 2009 because “the global consensus among bondholders appeared to be that inflation will remain low in the United States for an extended period. This caused the ten-year U.S. Treasury rate to fall to between 3.2 and 3.6 percent for much of the second half of 2009.”
With extraordinary levels of federal deficit spending, Dotzour says it is unlikely that the low-inflation scenario will be popular when the economy starts to rebound. Consumers should expect mortgage rates to rise when signs of improvement appear.
A second factor contributing to the low mortgage rates is the Federal Reserve Bank’s unprecedented purchase of nearly all the mortgage-backed securities issued by Fannie Mae and Freddie Mac in 2009, he adds. Totaling more than $1 trillion for the year, this program has been extended through the end of March 2010.
“The Fed has never done this before in its history,” says Dotzour. “They are doing this to stimulate the economy by keeping mortgage rates as low as possible. When the Fed stops buying these securities from Fannie and Freddie, mortgage rates are likely to increase, and possibly quite abruptly.”
How far will rates go up when the Fed terminates its buying program? Dotzour says that question is difficult to answer precisely because this has never been done before; but many experts think that rates could move up one-half to 1 percent.
“The combination of extraordinarily low mortgage rates and current price levels are making homes extremely affordable to American families. In fact, national and Texas housing affordability indices indicate that homes are more affordable than ever. But this will not last. When the economy recovers and the Fed stops purchasing mortgages, rates will rise.”
To read more on the subject, see Dotzour’s article “Rate Expectations” in the January 2010 issue of Tierra Grande magazine at http://recenter.tamu.edu/tgrande/.

Leave a Comment
  • Share/Bookmark

Interest Rates Edge Above 5%

You can expect higher rates in the next 30-45 days, say 61% of the experts polled by Bankrate.com last week. But only 8% foresee no change, and almost one-third (31%) predict a drop.
_________________________________________________________________________________

McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.

The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.

Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.

Interest Rates Move Higher

Interest Rates Move Higher

The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.

Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.

The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.

The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgagesMcLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

Leave a Comment
  • Share/Bookmark

Mortgage Rates Hit All-Time Low

Long term mortgage rates have hit new all time lows in the latest Primary Mortgage Market Survey released by Freddie Mac December 3rd. Both 30 year mortgage rates and 15 year mortgage rates have hit new lows this week.

mortgagerateart

30 year mortgage interest rates are at 4.71 percent with average mortgage discount points of 0.7, down from the prior week’s average mortgage rate of 4.78 percent. This rate is the lowest rate since 1971 when Freddie began it’s weekly mortgage survey.

15 year mortgage interest rates are at 4.27 percent with average mortgage points at 0.6, down from the previous week’s average mortgage loan rate of 4.29 percent. 15 year interest rates are lowest since Freddie started tracking 15 year loan rates in 1991.

5 year U.S. Treasury indexed adjustable mortgage rates are at 4.19 percent, up slightly over last week’s average loan rate of 4.18 percent. Mortgage points averaged 0.6 points.

1 year U.S. Treasury indexed adjustable rate mortgages averaged 4.25 percent, down from last week’s average mortgage interest rate of 4.35 percent. Average discount points were 0.6 points.

Long term mortgage rates have hit new all time lows in the latest Primary Mortgage Market Survey released by Freddie Mac this morning. Both 30 year mortgage rates and 15 year mortgage rates have hit new lows this week.
30 year mortgage interest rates are at 4.71 percent with average mortgage discount points of 0.7, down from the prior week’s average mortgage rate of 4.78 percent. This rate is the lowest rate since 1971 when Freddie began it’s weekly mortgage survey.
15 year mortgage interest rates are at 4.27 percent with average mortgage points at 0.6, down from the previous week’s average mortgage loan rate of 4.29 percent. 15 year interest rates are lowest since Freddie started tracking 15 year loan rates in 1991.
5 year U.S. Treasury indexed adjustable mortgage rates are at 4.19 percent, up slightly over last week’s average loan rate of 4.18 percent. Mortgage points averaged 0.6 points.
1 year U.S. Treasury indexed adjustable rate mortgages averaged 4.25 percent, down from last week’s average mortgage interest rate of 4.35 percent. Average discount points were 0.6 points.

Leave a Comment
  • Share/Bookmark

Interest Rate Falls Below 5 Percent

Rates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase.
The average rate inched up from 5 percent a week earlier, mortgage company Freddie Mac said Thursday. The last time the average was higher was the week of September 24, when rates averaged 5.04 percentRates for 30-year home loans climbed to 5.03 percent this week, the third consecutive weekly increase.

Rates for 30-year home loans dipped below 5 percent this week after rising for three straight weeks.Mortgage_rate_091106.hmedium

The average rate fell to 4.98 percent from 5.03 percent a week earlier, mortgage company Freddie Mac said Thursday.

Rates had hovered below 5 percent for nearly a month until inching upward two weeks ago. They hit a record low of 4.78 percent in the spring, but are still attractive for people looking to buy a home or refinance.

The Federal Reserve has pumped $1.25 trillion into mortgage-backed securities in an effort to lower rates on mortgages and loosen credit. Rates on 30-year mortgages traditionally track yields on long-term government debt.

Read More


Leave a Comment
  • Share/Bookmark

© Bark Realty - All rights reserved.