Comments on: 30 Year Fixed over 6% http://raincityguide.com/2008/02/20/30-year-fixed-over-6/ Seattle's Leading Resource for Real Estate Information Sat, 20 Mar 2010 16:06:23 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Estately Blog » Mortgages Gone Wild http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-278003 Estately Blog » Mortgages Gone Wild Wed, 05 Mar 2008 23:45:26 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-278003 [...] Seriously - a 30 year was recently over 6% (up from 4.25% a month ago) and rates are changing every day. It’s not as dramatic, but you could also say that the 30 year rate is slightly higher than it was in December or lower than it was in August. (OK, so rates have dropped some since then). [...] [...] Seriously – a 30 year was recently over 6% (up from 4.25% a month ago) and rates are changing every day. It’s not as dramatic, but you could also say that the 30 year rate is slightly higher than it was in December or lower than it was in August. (OK, so rates have dropped some since then). [...]

]]> By: don greenup http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-270553 don greenup Mon, 25 Feb 2008 00:21:36 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-270553 The Fed does not control interest rates and the Bond market has signaled enough...... the bond Boyz are saying " we will not but treasuries unless we get a higher risk premium". The prolific spending and constant bailouts are going to ratchet rates ever higher. Its amazing how many people believe the Fed can control mortgage rates. The question is - what if there is a auction to sell treasuries and no one shows up? Answer: rates go up........ I expect higher longer term rates and our government will be forced to live within their means. The Fed does not control interest rates and the Bond market has signaled enough…… the bond Boyz are saying ” we will not but treasuries unless we get a higher risk premium”. The prolific spending and constant bailouts are going to ratchet rates ever higher. Its amazing how many people believe the Fed can control mortgage rates. The question is – what if there is a auction to sell treasuries and no one shows up? Answer: rates go up……..
I expect higher longer term rates and our government will be forced to live within their means.

]]> By: Denver Real Estate Blog » Buy Now or Wait in the Denver Colorado Real Estate Market http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-269074 Denver Real Estate Blog » Buy Now or Wait in the Denver Colorado Real Estate Market Fri, 22 Feb 2008 16:35:13 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-269074 [...] Although it’s great to buy Real estate when prices are falling, Mortgage rates will play a key role in determining what your true bottom line savings will be. Once again I’m going to refer to an article in the Rain City Guide that points you to a video that explains the recent excitement when were looking at Interest Rates. Rhonda has uncovered and article written by Dan Green of The Mortgage Reports and explains How Mortgage Rates Went From Riches to Rags in 30 Days. This does an excellent job of illustrating how fast interest rates can move in either direction and below I’ll map out the true impact to you as a home buyer. [...] [...] Although it’s great to buy Real estate when prices are falling, Mortgage rates will play a key role in determining what your true bottom line savings will be. Once again I’m going to refer to an article in the Rain City Guide that points you to a video that explains the recent excitement when were looking at Interest Rates. Rhonda has uncovered and article written by Dan Green of The Mortgage Reports and explains How Mortgage Rates Went From Riches to Rags in 30 Days. This does an excellent job of illustrating how fast interest rates can move in either direction and below I’ll map out the true impact to you as a home buyer. [...]

]]> By: Rhonda Porter http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268735 Rhonda Porter Fri, 22 Feb 2008 01:44:46 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268735 They bounced around a wee bit today...we'll see what tomorrow brings for "Friday's Rates". They bounced around a wee bit today…we’ll see what tomorrow brings for “Friday’s Rates”.

]]> By: JG http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268732 JG Fri, 22 Feb 2008 01:37:03 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268732 up up and awayyyyyyyyyy up up and awayyyyyyyyyy

]]> By: Rhonda Porter http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268453 Rhonda Porter Thu, 21 Feb 2008 14:31:44 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268453 Sniglet, I think rates do impact home buying on a certain level. People will still buy homes, however the rate will limit how much one qualifies for. The market has changed due to various products being shelved and guidelines tightening. I do write about the significant ones here. The weekly rates give people an idea of the rate trends and it's probably more important now than ever with how volatile the rates are. It has different uses for different people. For example, ARDELL has mentioned that she'll use it as a tool to make sure her buyers are getting a fair deal with the lender they work with. Sniglet, I think rates do impact home buying on a certain level. People will still buy homes, however the rate will limit how much one qualifies for. The market has changed due to various products being shelved and guidelines tightening. I do write about the significant ones here.

The weekly rates give people an idea of the rate trends and it’s probably more important now than ever with how volatile the rates are. It has different uses for different people. For example, ARDELL has mentioned that she’ll use it as a tool to make sure her buyers are getting a fair deal with the lender they work with.

]]> By: Sniglet http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268251 Sniglet Thu, 21 Feb 2008 07:05:07 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268251 How much do mortgage rates, in and of themselves, really impact the real-estate market? If 30 year conforming fixed loans were at 2.5%, would it be reasonable to see a significant pick up in the market? Or is the availability of varying loan products more important than the rates? If Jumbo loans were at 7% and neg-am, no-doc, Alt-A, and greater than 80% LTV loans were simply not available would it really help to just have super-cheap conforming loans? In other words, is it better to have extremely good rates on super-safe loans that only a handful of people qualify for, or to have higher-rates but wide availability of financing products that available to most prospective borrowers? The reason I am focussed on this is because I am wondering whether the really important thing to be tracking right now is the availability of mortgage products, and how many people will qualify, rather than the rates. Just looking at the mortgage rates on a daily, or weekly, basis might not tell us what is happening. How much do mortgage rates, in and of themselves, really impact the real-estate market? If 30 year conforming fixed loans were at 2.5%, would it be reasonable to see a significant pick up in the market?

Or is the availability of varying loan products more important than the rates? If Jumbo loans were at 7% and neg-am, no-doc, Alt-A, and greater than 80% LTV loans were simply not available would it really help to just have super-cheap conforming loans?

In other words, is it better to have extremely good rates on super-safe loans that only a handful of people qualify for, or to have higher-rates but wide availability of financing products that available to most prospective borrowers?

The reason I am focussed on this is because I am wondering whether the really important thing to be tracking right now is the availability of mortgage products, and how many people will qualify, rather than the rates. Just looking at the mortgage rates on a daily, or weekly, basis might not tell us what is happening.

]]> By: Rhonda Porter http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268214 Rhonda Porter Thu, 21 Feb 2008 05:32:46 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268214 Leslie, Thank you! :) Leslie, Thank you! :)

]]> By: Rhonda Porter http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268213 Rhonda Porter Thu, 21 Feb 2008 05:31:37 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268213 synthetik, you're right. I bought my first house in 1989 for $60k and sold it the next year for $89k. It probably was not cheaper than renting for me and I had two room-mates in my old apartment...I just wanted my own house and did well selling it. Historically rates are still low--that's my point and I believe Tim's too. 10% rates...I hope not. When I entered the mortgage biz, from title/escrow, rates were around 7%. synthetik, you’re right. I bought my first house in 1989 for $60k and sold it the next year for $89k. It probably was not cheaper than renting for me and I had two room-mates in my old apartment…I just wanted my own house and did well selling it.

Historically rates are still low–that’s my point and I believe Tim’s too. 10% rates…I hope not. When I entered the mortgage biz, from title/escrow, rates were around 7%.

]]> By: Leslie http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268212 Leslie Thu, 21 Feb 2008 05:30:44 +0000 http://raincityguide.com/2008/02/20/30-year-fixed-over-6/#comment-268212 Thank you Rhonda for being so excellent in your profession! Thank you Rhonda for being so excellent in your profession!

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