Summary of time-sensitive, important changes in the financial and regulatory markets that impact the Maryland housing market.
Thirty year fixed rates dipped last week below 5% with 0 points for just a few hours, but toward the end of the week they started to climb again in the wake of released unemployment reports showing the unemployment rate stabilizing. For the moment a well qualified purchaser can still obtain a 30 year fixed money loan at 5% for 0 points. FHA and VA loans are still about the same as their Fannie Mae and Freddie Mac counterparts, but it will be important to watch the 10 year treasury index (TNX)... Read Full Post
As of this third week in February, thirty-year year fixed rate mortgages are still holding at 5% - 5.125% for very well qualified purchasers. FHA and VA loans are still tracking about the same. The following is a recent commentary from Market Alert: Commentary: "Treasury prices are rebounding from a selloff yesterday following a fairly dismal $81 billion three-part government debt auction that absorbed investors' attention during the middle part of the week. Oftentimes when we go through a pe... Read Full Post
Conventional 30-year fixed mortgage rates are floating around 5%, which is a slight improvement over the past week, but most analysts believe such low rates are not likely to last. There are also persistent rumors that significant changes may be coming to government-backed FHA (Federal Housing Administration) home loans. Apparently, the following changes are currently under consideration by FHA: * Remove the per se blocking of sales on 'flipped' properties by offering a waiver to borrowers in... Read Full Post
Happy New Year and best wishes for 2010! This post is the first of a series of entries that will report on important changes impacting the Maryland residential real estate and home mortgage markets. Home mortgage interest rates leading up to the 2009 Holidays were especially volatile. The 10 year treasury yield index (ticker TNX) moved from its recent lows in December of 32.5 up to 38.15 as of Friday, January 8. This, along with other key economic factors have caused 30 year fixed rates to cl... Read Full Post
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