Interest Rate News

Lower Interest Rates Spur Interest in Refinancing; HARP May Help

It didn’t seem possible, but mortgage interest rates have been hitting record lows again in the past few weeks. Experts credit these lower interest rates, combined with the Home Affordable Refinance Program (HARP), with spurring on another wave of refinancing … Read more >

Record-Breaking Lows: Mortgage Rates Charting New Territory

Mortgage interest rates have remained steady at lows not seen in 40 years, with 30-year fixed rate average 3.87%. The 15-year fixed rate, while moving slightly higher last week, remained close to the record-breaking 3.14% set at the beginning of … Read more >

Looking for a Silver Lining – Mortgage Interest Rates Continue to Drop

Last week was a tough one in the financial markets following the debt rating downgrades. Nevertheless, the resulting decline in mortgage rates could mean significant savings for home buyers. The interest rate on a 30-year mortgage fell to 4.32% last … Read more >

Record Low Interest Rates Can Mean Large Long Term Savings

Interest rates continue to hit lows not seen in 40 years.  With interest rates just above 4%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and … Read more >

Lower Interest Rates Can Mean Large Long Term Savings

During the last several months we’ve seen record low interest rates.  With interest rates remaining below 5%, the savings over the course of a 30 year fixed mortgage are remarkable.  Combined with high levels of housing inventory for sale and … Read more >

Interest rates are great now but…

We currently at record low interest rates which is great for the current real estate market but how long can we expect to see them at these levels. Larry Baer with Market Alert has written a great commentary regarding this … Read more >

Rates Higher as Stocks Climb

Last week, the stock market declined and mortgage rates fell, as investors worried about Fannie Mae and Freddie Mac and oil prices reached record highs. In a pivotal reversal, the opposite took place this week. With increased confidence in the Read more >

Fed Leaves Interest Rates Unchanged

As expected, the members of the Federal Open Market Committee voted to hold their key fed fund rate unchanged.  Today’s decision is the first time the Fed has held short-term interest rates steady since they embarked on a series of Read more >

Fed Cuts Interest Rates

The Federal Reserve has cut interest rates by one-quarter of a percentage point yesterday, in what many economists are predicting might be the last such cut by the Federal Reserve for a while. It is the seventh cut since late Read more >

Rates Down Slightly For the Week

We didn’t see the broad swings in interest rates this week as were experience in weeks past.  With little new economic news for the week rates settled in for a slightly lower average then last week.

Ecnomic news was mixed Read more >