Mortgage Rates Up For First Time In Seven Weeks Mortgage Rates Up For First Time In Seven Weeks

Mortgage rates reversed a six week downward trend, increasing slightly during the week ended September 7 according to the Weekly Primary Mortgage Market Survey released by Freddie Mac.

Frank Nothaft, Freddie Mac vice president and chief economist said "We expect that mortgage rates will continue to fluctuate as new economic data are released, but hold steady in the meantime".

Small increases in marginal rates aren't having the effects that they would normally on home sales because affordability concerns seem to still trump them. Buyers are keenly aware that today's distressed seller is going to be even more distressed tomorrow, thus pushing prices and demand even further.

Labels: FreddieMac, interestrates, mortgagerate., mortgagerates

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Mortgage Rates Hit Three Year Highs After months
Mortgage Rates Hit Three Year Highs
After months of apparent indecisiveness, mortgages rates seem to have decided on a direction and are heading toward it. Unfortunately that direction is up! Both of the mortgage market surveys we track reported rates at their highest levels since mid-2002 and in one case since 2001.

Rate increases seem natural given the market and where it's headed.

Labels: mortagerate, mortgagerates

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Mortgage Rates Rise Again - 4th straight week Everyone seems to be covering this latest interest rate rise, namely from 5.73% to 5.77%. These are historically low mortgage rates so I wouldn't fret too much. The real question is what affect this will have on home buyers. Will we see a last minute dash to buy a home before rates rise again? Will the slowly rising rates spark a price bump as people rush into the market before rates rise again? Time will tell.

Labels: mortagerate, mortgagerates, risingmortgagerates

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