Tuesday, September 19, 2006
VUELVE A BAJAR TAZA DE INTERESES HIPOTECARIOS
MARRERO REAL ESTATE BROKERAGE LLC
JOSE RAUL MARRERO
REAL ESTATE BROKER LIC
UN MARAVILOSO DIA PARA USTED
LA TAZA DE INTERES HIPOTECARIO REGRESO A LOS NIVELES DE ABRIL DE 2006, REFLEJANDO UNA BAJA DESDE 6.47 A 6.43.
ES UN EXCELENTE MOMENTO PARA HACER VENTAJOSAS OFERTAS DE COMPRAR PROPIEDADES EN EL ESTADO DE LA FLORIDA DONDE MUCHAS PROPIEDADES LLEVAN ALGUN TIEMPO EN EL MERCADO.
Rates on 30-year mortgages drop to lowest level since April
Expect more of the same: Sixty percent of the mortgage experts polled by Bankrate.com predict no change in mortgage rates over the next 30 to 45 days. Only 10 percent predicted a drop, however, with the remaining 30 percent forecasting a rise.
WASHINGTON -- Sept. 15, 2006 -- Rates on 30-year mortgages fell for the seventh time in the past eight weeks, dropping to the lowest level since early April.
Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages dipped to 6.43 percent this week, down from 6.47 percent last week.
Rates on 30-year mortgages had hit a four-year high of 6.80 percent on July 20 before beginning the sustained slide.
Investors have become more convinced in recent weeks that a drop in oil prices will keep inflation under control and allow the Federal Reserve to keep interest rates steady.
The Fed meets next week amid widespread expectations that policymakers will leave rates unchanged for a second straight meeting following a string of 17 consecutive rate hikes over two years.
Frank Nothaft, chief economist at Freddie Mac, said he expected mortgage rates to stay around current levels as long as inflation remains under control.
"The risk to our forecast of relatively stable mortgage rates is that inflation will unexpectedly heat up, causing bond markets to raise their expectations that the Fed will intervene," Nothaft said. "In that case, mortgage rates will again start to rise."
Home sales are expected to fall by around 10 percent this year as the once booming housing market comes back to earth after setting sales records for five straight years.
Rates on other types of mortgages declined as well this week. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, averaged 6.11 percent, down from 6.16 percent last week.
For one-year adjustable-rate mortgages, rates dipped to 5.60 percent, down from 5.63 percent last week.
Rates on five-year adjustable-rate mortgages fell to 6.10 percent this week, compared to 6.14 percent last week.
The mortgage rates do not include add-on fees known as points. Thirty-year mortgages carried a nationwide average fee of 0.5 point while 15-year mortgages had a fee of 0.4 point. One-year ARMS carried a fee of 0.7 point and five-year ARMs had a fee of 0.6 point.
A year ago, 30-year mortgages averaged 5.74 percent, 15-year mortgages stood at 5.32 percent, one-year ARMs were at 4.46 percent and five-year ARMs averaged 5.26 percent.
JOSE RAUL MARRERO
787-486-7906
407-436-5140
TODOS SOMOS GUERREROS DE LUZ!
JOSE RAUL MARRERO
REAL ESTATE BROKER LIC
UN MARAVILOSO DIA PARA USTED
LA TAZA DE INTERES HIPOTECARIO REGRESO A LOS NIVELES DE ABRIL DE 2006, REFLEJANDO UNA BAJA DESDE 6.47 A 6.43.
ES UN EXCELENTE MOMENTO PARA HACER VENTAJOSAS OFERTAS DE COMPRAR PROPIEDADES EN EL ESTADO DE LA FLORIDA DONDE MUCHAS PROPIEDADES LLEVAN ALGUN TIEMPO EN EL MERCADO.
Rates on 30-year mortgages drop to lowest level since April
Expect more of the same: Sixty percent of the mortgage experts polled by Bankrate.com predict no change in mortgage rates over the next 30 to 45 days. Only 10 percent predicted a drop, however, with the remaining 30 percent forecasting a rise.
WASHINGTON -- Sept. 15, 2006 -- Rates on 30-year mortgages fell for the seventh time in the past eight weeks, dropping to the lowest level since early April.
Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages dipped to 6.43 percent this week, down from 6.47 percent last week.
Rates on 30-year mortgages had hit a four-year high of 6.80 percent on July 20 before beginning the sustained slide.
Investors have become more convinced in recent weeks that a drop in oil prices will keep inflation under control and allow the Federal Reserve to keep interest rates steady.
The Fed meets next week amid widespread expectations that policymakers will leave rates unchanged for a second straight meeting following a string of 17 consecutive rate hikes over two years.
Frank Nothaft, chief economist at Freddie Mac, said he expected mortgage rates to stay around current levels as long as inflation remains under control.
"The risk to our forecast of relatively stable mortgage rates is that inflation will unexpectedly heat up, causing bond markets to raise their expectations that the Fed will intervene," Nothaft said. "In that case, mortgage rates will again start to rise."
Home sales are expected to fall by around 10 percent this year as the once booming housing market comes back to earth after setting sales records for five straight years.
Rates on other types of mortgages declined as well this week. Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, averaged 6.11 percent, down from 6.16 percent last week.
For one-year adjustable-rate mortgages, rates dipped to 5.60 percent, down from 5.63 percent last week.
Rates on five-year adjustable-rate mortgages fell to 6.10 percent this week, compared to 6.14 percent last week.
The mortgage rates do not include add-on fees known as points. Thirty-year mortgages carried a nationwide average fee of 0.5 point while 15-year mortgages had a fee of 0.4 point. One-year ARMS carried a fee of 0.7 point and five-year ARMs had a fee of 0.6 point.
A year ago, 30-year mortgages averaged 5.74 percent, 15-year mortgages stood at 5.32 percent, one-year ARMs were at 4.46 percent and five-year ARMs averaged 5.26 percent.
JOSE RAUL MARRERO
787-486-7906
407-436-5140
TODOS SOMOS GUERREROS DE LUZ!
