Tag Archive for Rates

Homes.org Releases Mortgage Rates Update – How a Week of Market Reports Affected Interest Rates

admin | February 7, 2012 | One comment

Homes.org Releases Mortgage Rates Update – How a Week of Market Reports Affected Interest Rates











Find Homes & More at Homes.org

(PRWEB) February 03, 2012

The Homes.org weekly mortgage rate report found that mortgage interest rates rose last week despite the Fed’s announcement of long term plans to keep base interest rates at record. However, since that climb rates have again fallen back down to record lows. The up and down movement has been a product of investor confidence that the U.S. economy is growing stronger and government actions to help the housing market. This back and forth tug of war in interest rates is right in line with Homes.org’s forecast last week.

Current interest rates are:

         4.12% – average rate for a 30-year fixed rate mortgage

         3.34% – average rate for a 15-year fixed rate mortgage

In the last week, 30-year fixed-rate mortgages fell by 12 basis points while the 15-year fixed-rate mortgage dropped 11 basis points. This time last year the 30-year fixed was at 5.02%.

The Homes.org Weekly Mortgage Rates Update identifies the five reports coming out this week that could impact interest rates and how.


    Monday – December Personal Income and Outlays Report

    Tuesday – Consumer Confidence Report

    Thursday – Initial Jobless Claims Report and 4th Quarter Productivity Report

    Friday – Jobs Report

Homes.org is forecasting that there will likely be more steady movement over the next week with the possibility of a slight increase. There aren’t any big announcements being made by the government as was the case the last two weeks and the positive outcome in the market reports this week will probably keep investor confidence higher in the U.S. Especially since Europe is still struggling over their own economic issues.

To find more information on mortgage rates, new home listings and local real estate agents, please visit: Homes.org.

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

###





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , , , ,

Commercial & Apartment Lender Commercial Loan Direct Launches New Agency-Based Programs as National Demand for Apartment Loans Rises & Commercial Interest Rates Fall

admin | February 4, 2012 | One comment

Commercial & Apartment Lender Commercial Loan Direct Launches New Agency-Based Programs as National Demand for Apartment Loans Rises & Commercial Interest Rates Fall











Commercial Loan Direct – Apartment Loans & Commercial Loans


Atlanta, GA (PRWEB) January 24, 2012

Current and prospective apartment owners have spoken and Commercial Loan Direct has answered. The online business division of CLD Capital, based out of Atlanta, GA, has been a leading provider of commercial loans and now, apartment loans with its new Fannie Mae and FHA Programs. The company said it created these programs in response to an overwhelming amount of requests for apartment refinancing from borrowers with high interest loans and prospective purchasers wanting to take advantage of the strong rental market and declining commercial rates. Executive Vice President Fernando Martin, who spearheaded the initiative, believes that borrowers can create significant value by taking advantage of these government programs: “Agency-based commercial lending provides borrowers with multi-family properties some of the best opportunities in the current marketplace. Rates have dropped so substantially that even many borrowers with prepayment penalties can refinance and still come out on top.”

Fannie Mae Apartment Loans. Commercial Loan Direct is now offering fixed rate apartment loans nationwide under Fannie Mae’s Delegated Underwriting Services Program, available with terms and amortizations up to 30 years and closing dates in 30-45 days. Because of the decline in treasury rates, Commercial Loan Direct says that it can now offer loans with fixed rates of 3.5% to 4.3% at 80% LTV and variable rates of 3.19%. “This is by far our most popular product,” says Mr. Martin, “because it offers the borrower flexible terms and a quick execution.”

FHA Apartment Loans. The primary benefit of FHA products, offered under Commercial Loan Direct’s other program, is that FHA is a source of financing that is always available despite the volatility of the market and offers some of the lowest rates right now, says the company’s executives. Despite an extended execution period (6 months), the wait pays off with longer terms (up to 40 years) and low rates (only about 3.31%). As an additional service, Commercial Loan Direct offers solutions to overcome FHA’s processing time with bridge lending available through the company’s other programs.

###









Attachments



























Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Finance | Tags: , , , , , , , , , , , , , ,

Homes.org Releases Mortgage Rates Update – Fed Helps Rates Stay Steady

admin | February 3, 2012 | One comment

Homes.org Releases Mortgage Rates Update – Fed Helps Rates Stay Steady











Find Homes & More at Homes.org

Austin, TX (PRWEB) January 20, 2012

The Homes.org weekly mortgage rate report found that last week mortgage interest rates remained steady and the trend is likely to continue thanks mostly in part to the economic situation in Europe.

With the real estate industry expected to show some slight improvements this week, now is no time for mortgage rate increases. The Fed knows this and is doing their part to squelch upward movement by buying mortgage bonds. When bond buying is strong interest rates remain low and the Fed’s actions are keeping the traders’ interests up. This and Europe’s economic state is the primary reason for mortgage rates staying steady since last week.

Current interest rates are:

         4.18% – average rate for a 30-year fixed rate mortgage

         3.38% – average rate for a 15-year fixed rate mortgage

Most of the economic activity and reports that affect mortgage rates in the U.S. is happening late in the week, partially due to the week opening with a holiday. The Producer and Consumer Price Index inflation reports came out Wednesday and Thursday showing that inflation hasn’t occurred at the consumer level and dropped by .1% for wholesale prices. This is good news in the mortgage interest industry since increase in inflation often equates to higher rates.

Employment and spending numbers were also optimistic with spending and manufacturing up and unemployment claims down this week to the lowest level since April 2008. These trends are keep stocks from dropping and signaling signs of economic recovery in the U.S.

This week housing reports are also released which directly show how the real estate industry is fairing. The Housing Starts report released Thursday showed a 4.1% drop in December, however builder sentiment was stronger in January. They remain optimistic because single-family home starts did increase by 4.4%. The Existing Home Sales report due out today is predicted to show continued signs of recovery.

Homes.org is forecasting that with the Fed keeping mortgage bond buying in action, the EuroZone still in economic uncertainty and desire to keep the U.S. real estate market moving in the right direction, mortgage interest rates are likely to move sideways and remain just as low at the start of next week.

To find more information on mortgage rates, new home listings and real estate resources, please visit: http://www.homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

###





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , ,

Homes.org Releases Mortgage Rates Update – What the Fed Announcement Means for Mortgage Rates

admin | January 27, 2012 | One comment

Homes.org Releases Mortgage Rates Update – What the Fed Announcement Means for Mortgage Rates











Find Homes & More at Homes.org


Austin, TX (PRWEB) January 26, 2012

The Homes.org weekly mortgage rate report found that mortgage interest rates have inched upward since last week, however the Fed is aiming at keeping it from rising too much. As we predicted last week the Fed is determined to keep interest rates in check in an effort to keep real estate and the overall U.S. economy on its path to recovery.

Current interest rates are:

         4.25% – average rate for a 30-year fixed rate mortgage

         3.45% – average rate for a 15-year fixed rate mortgage

Here’s what Homes.org is reporting as the need to know info about the Fed’s unprecedented announcement yesterday and the effects it’s already having.


    The Fed stated it wouldn’t increase the benchmark interest rate until late 2014.
    The key rate has been kept at a record low near 0% for the last three years.
    The Fed is making the decision based on the slow economic recovery and signs that inflation will remain low.
    The timeline of late 2014 is a ‘best guess’ not a hard timeframe, depending on how the economy fares over the next few years.
    The Fed believes the economy will grow by 2.2-2.7%, that unemployment will drop to 8.2% and inflation will be at only 2% this year.
    The Fed also said that they are holding off on further bond buying, but that depending on the economy they may resume doing so in the future.
    The Fed actions were approved by members 9-1.
    After the announcement Treasury yields fell which indicates that mortgage rates will hold or decrease.
    Stocks saw positive gains after the announcement, recovering losses that were experienced earlier in the day.

Homes.org is forecasting that there will be a tug of war over interest rates in the weeks and month to come. As the U.S. economy improves and people gain confidence in it, it’s typical for interest rates to rise. However, the Fed is taking steps to try and counteract that from happening, no doubt because they know the lure of low interest rates will be a big factor in getting more buyers into real estate markets across the country.

To find more information on mortgage rates, new home listings and the home buying guide for today’s buyer, please visit: Homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

###





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , ,

Homes.org Releases Mortgage Rates Update – Interest Rates Fall Despite Signs of Recovery

admin | January 18, 2012 | One comment

Homes.org Releases Mortgage Rates Update – Interest Rates Fall Despite Signs of Recovery











Find Homes & More at Homes.org


Austin, TX (PRWEB) January 13, 2012

The Homes.org weekly mortgage rate report finds that last week was a good week for mortgage interest rates and the trend is likely to continue. Despite encouraging signs that the U.S. economy is on its way to recovery, rates started the week out 3 basis points lower. This is due to investor interest in U.S. Treasuries and bonds which are still considered a safer bet compared to European investments.

Current interest rates are:

         4.18% – average rate for a 30-year fixed rate mortgage

         3.38% – average rate for a 15-year fixed rate mortgage

All in all the economy was looking up last week – the December Employment Report showed a drop in unemployment to 8.5% and the Commerce Department noted that factory orders increased by 1.8% in November. However, the recovery has been slow and the real estate industry is still trying to find its footing.

This week two reports in connection with consumer spending will likely have an effect on interest rates come Monday. The Retail Sales Report, which tracks monthly sales of U.S. retailers, measures consumer spending which accounts for approximately 70% of the U.S. economy. The December report found that while spending wasn’t high initially expected there was a .1% gain after seasonal adjustments. While that wasn’t a huge gain it did add to the overall 2011 sales numbers which showed an 8% increase over last year making it the largest annual percentage increase in 12 years.

Friday the University of Michigan will release its Index of Consumer Sentiment. The report will indicate consumer’s willingness to spend which has a significant impact on the markets. If the report shows any dramatic changes over the last it will likely cause slight movement in mortgage rates.

Homes.org is forecasting that with the EuroZone still in economic uncertainty, and the U.S. posting strong annual sales figures investors will continue to see the later as the safer bet. Given the December sales report, the Friday sentiment report will likely show a slight increase in consumer confidence and willingness to spend. All of which indicates there won’t be much movement in mortgage interest rates next week.

To find more information on mortgage rates, new home listings and real estate resources, please visit: Homes.org

About Homes.org

Homes.org is a fast growing real estate search portal that offers users much more than MLS listings. Homes.org gives users access to a rich collection of resources, including but not limited to, real estate listings, home owner finance tools and home service tools. Homes.org brings buyers, sellers and renters important information about the current markets and intelligent tools by partnering with real estate professionals from around the country. Homes.org is a subsidiary of Star Nine Ventures, Inc. headquartered in Austin, TX.

About Star Nine Ventures®

Star Nine Ventures® is an Austin-based, marketing-driven venture creation company targeting a wide range of national business-to-consumer online marketplaces. Star Nine’s core mission is to build businesses that provide exemplary consumer experiences and unparalleled customer service.

###





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , , , ,

30 Year Fixed Mortgage Rates Start 2012 By Tying Record Lows Announces ForTheBestRate.com

admin | January 8, 2012 | One comment

30 Year Fixed Mortgage Rates Start 2012 By Tying Record Lows Announces ForTheBestRate.com











ForTheBestRate.com – Research Current Mortgage Rates


Wilmington, NC (PRWEB) January 07, 2012

Mortgage rates remain at or near all time record lows according to mortgage rate research website, ForTheBestRate.com. Home loan pricing displayed by various banks, lenders, and brokers in the rate tables has been among the lowest in the site’s history. On Friday, January 6th, 2012 30 year fixed mortgage rates as low as 3.750% were posted (APR: 3.785%, Points: 0, Fees: $ 852, Lender: Everbank.) Pricing for 15 year fixed rate loans is near record setting lows as well, with advertised rates reaching 3.000% (APR: 3.061%, Points: 0, Fees: $ 852, Lender: Everbank.)

This pricing represents a small drop when compared to mortgage rates available during the last week of 2011. This decrease was also reported by Freddie Mac, a government sponsored enterprise and purchaser of residential mortgages on the secondary market, in their January 5th weekly rate survey. Data in the survey showed that the average 30 year fixed rate pricing fell to 3.91% (0.8 points) from an only slightly higher 3.95% (0.7 points.) 15 year fixed pricing saw a similar modest decline from 3.24% (0.8 points) the week ending December 29, 2011 to 3.23% (0.8 points) the following week.

Continued availability of mortgage rates below 4.00% for the 30 year fixed rate products is welcome news for homeowners interested in refinancing, but who held off during the holidays. “We tend to see things slow way down during December,” said Brian Mitchell, Sales Manager with Gateway Bank Mortgage, a North Carolina mortgage company. “People are busy with the holidays, taking some vacation time, and might not be closely watching the mortgage market or in a position to act. Now that we’re into the new year though, we’re talking to a lot of people who are evaluating their finances and want to look into how a refi could help improve things.”

Current mortgage rates for a number of different residential mortgage programs can be viewed on ForTheBestRate.com. Below is a snapshot of mortgage rates for a variety of products listed on the site on 01/06/2012. Rates are subject to change. Please visit the site to view the criteria used in the survey.

30 Year Mortgage Rates (0 Points)

Seckel Capital – 3.875% Note Rate – 3.875% APR – $ 0 Fees in APR

The Money Store – 3.875% Note Rate – 3.895% APR – $ 495 Fees in APR

20 Year Mortgage Rates (0 Points)

Quicken Loans – 3.990% Note Rate – 4.094% APR – $ 1803 Fees in APR

EverBank – 3.625% Note Rate – 3.674% APR – $ 852 Fees in APR

15 Year Mortgage Rates (0 Points)

Sekel Capital – 3.250% Note Rate – 3.250% APR – #0 Fees in APR

The Money Store – 3.375% Note Rate – 3.382% APR – $ 95 Fees in APR

5/1 ARM Rates (0 Points)

Aurora Bank – 3.125% Note Rate – 3.155% APR – $ 757 Fees in APR

First Financial Services – 3.250% Note Rate – 3.250% APR – $ 0 Fees in APR

About ForTheBestRate.com

ForTheBestRate.com is a website that offers information regarding mortgages, insurance, and personal finance. ForTheBestRate.com is owned by CMG Equities, LLC based in Wilmington, North Carolina. For more information, visit http://www.forthebestrate.com/

###





















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Finance | Tags: , , , , , , , , , ,

HSH.com Weekly Mortgage Rate Radar: Slight Bump in Rates to Close 2011

admin | December 29, 2011 | One comment

HSH.com Weekly Mortgage Rate Radar: Slight Bump in Rates to Close 2011











Foster City, CA (PRWEB) December 28, 2011

Rates on the most popular types of mortgages rose slightly, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages rose by two basis points (0.02 percent) to 4.06 percent. Conforming 5/1 Hybrid ARM rates increased by three basis points (0.03 percent), closing the Wednesday-to-Tuesday wraparound weekly survey at average 3.00 percent.

“Thirty-year fixed mortgage rates will start 2012 almost a full percentage point below where they began the year,” said Keith Gumbinger, vice president of HSH.com. “With the economy gradually improving, refinancing or purchasing a home at the start of 2012 will be much more compelling than it was at the beginning of 2011.” With home prices still falling, “homeowners with slight equity positions should not wait to refinance, but potential homebuyers might want to take a more leisurely pace,” Gumbinger noted.

Average mortgage rates and points for conforming residential mortgages for the week ending December 27 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

Average rate: 4.06 percent
Average points: 0.27

Conforming 5/1-year adjustable-rate mortgage

Average rate: 3.00 percent
Average points: 0.23

Average mortgage rates and points for conforming residential mortgages for the previous week ending December 20 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

Average Rate: 4.04 percent
Average Points: 0.32

Conforming 5/1-year adjustable-rate mortgage

Average Rate: 2.97 percent
Average Points: 0.28

Methodology

The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com

HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that best meet their needs. The company is a leader in ethical marketing practices. For more information, please visit QuinStreet.com.

Press Contact

Andrew Heilman

775-784-3842

pr(at)hsh(dot)com

###






















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , , , ,

HSH.com Weekly Mortgage Rate Radar: Mortgage Rates Slip While Fed Holds Steady

admin | December 15, 2011 | One comment

HSH.com Weekly Mortgage Rate Radar: Mortgage Rates Slip While Fed Holds Steady











Foster City, CA (PRWEB) December 14, 2011

Rates on the most popular types of mortgages declined slightly this week, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages fell by 4 basis points (0.04 percent) to 4.09 percent. Conforming 5/1 hybrid ARM rates also decreased by 4 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 2.99 percent. Rates for both types of home loans remain close to record lows.

“The Federal Reserve seems content to give policies already in place time to work,” said Keith Gumbinger, vice president of HSH.com. “Short-term interest rates remain at rock-bottom lows, and the Fed’s program of buying longer-term securities and mortgages continues to keep long-term interest rates low and flat.”

Gumbinger added: “The Fed likely sees no reason to make any changes, especially during a period of somewhat better economic news, absent any new panic over eurozone troubles or evidence of a sharp economic decline in the U.S.”

Average mortgage rates and points for conforming residential mortgages for the week ending December 13 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.09 percent
    Average points: 0.26

Conforming 5/1-year adjustable-rate mortgage

    Average rate: 2.99 percent
    Average points: 0.26

Average mortgage rates and points for conforming residential mortgages for the previous week ending December 6 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.13 percent
    Average points: 0.26

Conforming 5/1-year adjustable-rate mortgage

    Average rate: 3.03 percent
    Average points: 0.21

Methodology

The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com

HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.

Press Contact

Andrew Heilman

775-784-3842

pr(at)hsh(dot)com

###






















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , , ,

HSH.com Weekly Mortgage Rate Radar: Rates Flat as Expanded Refinance Program Debuts

admin | November 18, 2011 | One comment

HSH.com Weekly Mortgage Rate Radar: Rates Flat as Expanded Refinance Program Debuts











Foster City, CA (PRWEB) November 16, 2011

Rates on the most popular types of mortgages were fairly flat from the previous week, according to HSH.com’s Weekly Mortgage Rate Radar. The average rate for conforming 30-year fixed-rate mortgages rose by a single basis point (0.01 percent) to 4.14 percent. In contrast, conforming 5/1 hybrid ARM rates fell by 4 basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at average of 2.98 percent.

“Low mortgage rates are a key ingredient to making the expanded HARP program a success,” said Keith Gumbinger, vice president of HSH.com, referring to the Obama administration’s expanded Home Affordable Refinance Program. The details of the expanded HARP – which is expected to bring relief to up to 1 million homeowners over the next two years – were rolled out to lenders yesterday.

“Details of the expanded refinance program are just coming out, but the enhancements seem very likely to bring both lenders and borrowers to the table. Among the changes are lower costs for borrowers, easier income qualifications and greater liability protection for lenders,” Gumbinger added.

Average mortgage rates and points for conforming residential mortgages for the week ending November 15 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.14 percent
    Average points: 0.30

Conforming 5/1 ARM

    Average rate: 2.98 percent
    Average points: 0.23

Average mortgage rates and points for conforming residential mortgages for the previous week ending November 8 were, according to HSH.com:

Conforming 30-year fixed-rate mortgage

    Average rate: 4.13 percent
    Average points: 0.28

Conforming 5/1 ARM

    Average rate: 3.02 percent
    Average points: 0.24

Methodology

The Weekly Mortgage Rate Radar reports the average rates and points offered on conforming 30-year fixed-rate mortgages and conforming 5/1 ARMs. The weekly mortgage rate survey covers a large sample of mortgage lenders and is conducted over a Wednesday-to-Tuesday cycle, with data released every Wednesday. HSH.com’s survey helps consumers find the best rates on home loans in changing market conditions. Unlike mortgage rate surveys that report average rates only, the Weekly Mortgage Rate Radar’s inclusion of both average rates and average points provides a more accurate view of mortgage terms currently offered by lenders.

Every week, HSH.com conducts a survey of mortgage rate data for a wide range of consumer mortgage products including ARMs, FHA-backed and jumbo mortgages, as well as home equity loans and lines of credit from hundreds of direct lenders in the U.S. For information on additional loan products, visit HSH.com.

About HSH.com

HSH.com is a trusted source of mortgage data, trends, news and analysis. Since 1979, HSH’s market research and commentary has helped homeowners, buyers and sellers make smart financial choices and save money on mortgage and home equity products. HSH.com, of Pompton Plains, N.J., is owned and operated by QuinStreet, Inc. (NASDAQ: QNST), one of the largest Internet marketing and media companies in the world. QuinStreet is committed to providing consumers and businesses with the information they need to research, find and select the products, services and brands that meet their needs. The company is a leader in visitor-friendly marketing practices. For more information, please visit QuinStreet.com.

Press Contact

Andrew Heilman

775-784-3842

pr(at)hsh(dot)com

###






















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Mortgages | Tags: , , , , , , , , , ,

OAI: New Mobile App Underscores Key Factor in Auto Insurance Rates

admin | October 22, 2011 | One comment

OAI: New Mobile App Underscores Key Factor in Auto Insurance Rates










Los Angeles, CA (PRWEB) July 28, 2011

A new mobile application recently released from Progressive is highlighting a fact that many consumers may not take into account when shopping for an automobile: The type of car that you purchase could have a significant effect on car insurance rates.

The new app is called VIN Capture, and it allows consumers to conduct a stripped-down auto insurance quotes comparison between vehicles. Users scan Vehicle Identification Numbers of two or more cars with their iPhone or Android and have the insurer rank cars on a scale from 1 to 10 by how expensive they would be to cover.

VIN Capture does not provide exact quotes, according to the company. But it does allow consumers to compare the relative costs of insuring multiple vehicles based on make and model, a key factor in pricing a policy.

Insurance providers consider a host of variables in figuring out policy rates, including a motorist’s age, gender and driving record, claims statistics in the area where the vehicle is garaged and the type of coverage purchased.

But make and model play an important role, particularly in regard to rates for collision policies that cover repairs to a policyholder’s vehicle. In general terms, the more expensive the car, the more it will cost to cover.

According to Brittany Senary, a Progressive public relations representative, the VIN Capture rankings are based on “many factors like age of the vehicle and replacement costs.”

Another tool consumers can use to get a general idea of a particular vehicle’s insurance record is a National Highway Traffic Safety Administration (NHTSA) report released earlier this year that compares 2008-2010 vehicles by average collision claim costs compared to the average for all vehicles.

The federal agency releases comparison reports every year in booklet form and requires that auto dealerships have copies available for customers to peruse.

The report does not deal with the costs of insuring particular models, but rather how their claims records compare to the average for all cars. Some insurers use the data to adjust personal injury protection, medical payment and collision coverage rates for those vehicles.

The most recent report ranked the Maserati—an Italian sports car—as having the highest average claim costs. The average collision claim for a two-door Maserati Granturismo was more than three times the average for all cars.

By contrast, the more modest Chevrolet Express 3500 cargo series had the least costly average collision claim, coming in nearly 70 percent below the average for all vehicles.

Source: http://www.nhtsa.gov/staticfiles/administration/program_development/2011_Comparison_Insurance_Costs.pdf

To read more about this and other car coverage issues, go to http://www.onlineautoinsurance.com/quotes/ where you will find informative resource pages and a free-to-use quote-comparison generator that consumers can use to get sample premiums for many vehicle makes and models.

###




















Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.







Category: Insurance | Tags: , , , , ,
« Older Entries