Tag Archives: arm

Mortgage Rates and the Talking Heads

In 1980 the band the “Talking Heads” had a hit song called, “Once in a Lifetime”. One of the repeating lyrics of the song was, “Same as it ever was. Same as it ever was”. Who would have ever thought that 37 years later that the David Byrne lyric would be used to describe the mortgage rates! For the third straight week BankRate.com is reporting that the average rate for a 30 year fixed mortgage is at 3.56 percent. And the forecast for that 3.56...
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Mortgage Rates, Affordability and Foreclosures

Mortgage Rates, Affordability and Foreclosures are on the move. Some are rising and others falling. But all are on the leading edge of a recovering real estate and housing market. It’s hard to believe that the highest mortgage interest rate this year for a 30 year fixed loan has been only 3.85 percent. That happened last March 13. The national average for this past week was at 3.71 percent. Some economists are watching…

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Mortgage Rates Spike Then Slide

Mortgage rates climbed at the fastest pace in two months last Friday, May 3 as a result of the just released “Employment Situation Report” for April. This report which is a product of the US Bureau of Labor showed that unemployment decreased by 673,000 since the beginning of the year. Good news in the job market tends to cause lending rates to increase….

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