Mortgage rates are drastically going up after the U.S. election of President Donald Trump, then leveled off in the weeks that followed. However, while mortgage rates leveled off, they are still steadily going up. Data from Bankrate shows 49 U.S. states and the District of Columbia all experienced an increase in mortgage rates from last week. The only state to break that increasing trend was Missouri, which remained steady from the previous week at 3.98 percent.
Here are the top 10 states with the highest mortgages rates
Mortgage rates are actually creating a pattern all their own, as they have not been following the 10-year Treasury yield, Freddie Mac’s weekly survey pointed out. And as the 30-year fixed-rate mortgage sees its rates increase, consumers move toward alternative mortgage options such as adjustable-rate mortgages, Ellie Mae’s most recent Origination Insight Report shows… Read more at HousingWire.com
If you are looking and planning to purchase a new home in the near future, right now is the perfect time to make it happen, with interest rates still near historic lows. Interest rates are not uniformly low all across the country, though. Some U.S. states have relatively high average rates. But even though you live in those states, there is little reason for you to worry about.
10 States With the Highest Mortgage Rates
For context, mortgage rates for 30-year loans hit a nearly three-year high of 4.32% in December, and were recently around 4.27%. The Fed has begun raising interest rates and some experts are suggesting that mortgage rates could exceed 6% by 2020. So which states offer the worst interest rates these days? Well… Read more at The Motley Fool
Current Mortgage Rates & Trumponomics
What are the current mortgage rates and how are they being affected with the new President elect Donald Trump? Since the election a new term has been invented called Trumponomics. Trumponomics is all ready affecting our economy and the current interest rates. How high will these mortgage rates rise? In this video… Watch here
After trending down for most of the week, the 10-year Treasury yield rose following the release of the CPI report. In contrast, the 30-year mortgage rate fell three basis points to 4.09%, the 3rd straight week of falling down.
Mortgage Rates Lower for Third Consecutive Week
Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage… Read more at FreddieMac.com
The average 30-year rate fell another 8 basis points (0.08 percent) to 4.12 percent this week according to Freddie Mac, in its weekly survey of more than 100 lenders nationwide. Rates dropped from a 33-month high set the last week of December. This is a first change of protocol for today’s mortgage rate shopper.
Freddie Mac: Mortgage Rates Pull Back From 33-Month High
Mortgage rates tend to run up quickly then fall in response to an overreaction in the marketplace. The Mortgage Reports predicted falling rates in January due to this phenomenon, and it appears the forecast was correct. As a home buyer or… Read more at The Mortgage Reports
It was the first time since 2014 that rates started a year above 4%. It was the first run through since 2014 that rates began a year over 4%.Rates for home advances slid in the primary week of the year, the principal week to score a diminishing since the… Watch here
The first mortgage default report is out for the year, and so far, rates have only increased slightly. The report comes off the heels of a low default rate environment in 2016, which is likely to be tested in 2017 as interest rates start to rise.
Mortgage defaults slightly rise, but no need to be concerned
Consumer credit default rates on mortgages and auto loans remain low and stable. The first mortgage default rate increased to .72 in January, compared to .71 in December, and .86 in January of last year. Similarly, the second mortgage default increased to .48, compared to .41 in December, and… Read more at HousingWire.com
From December of 2016 to January 2017, the index level for first mortgages has increased from 0.71% to only 0.72%. Second mortgages saw a similarly slight increase from 0.41 percent to 0.48 percent. Likewise, mortgage delinquency has shown signs of being stable. Delinquency rate went down by 7.3% last year, but remained unchanged in the last two quarters.
Mortgage Defaults are Holding Steady
In addition to mortgage defaults, the S&P/Experian Consumer Credit Default Indices also covered bank card defaults. As of January, bank cards saw an increase in defaults, up to 3.21 percent, the highest level since July 2013. At the same time, results from the report show that mortgage delinquency has not shown significant change… Read more at DSNews.com
Mortgage rates rise following Trump’s win
Diana Olick reports on how Trump’s presidential win is affecting mortgage rates… Watch here
According to Navy Federal, the 5/5 ARM has a history of growth and stability with the credit union, and now is planning to develop the product and moving forward. It’s focused on big institutional investors backed by Freddie Mac, as the enterprise will pool the loans in mortgage-backed securities.
Navy Federal Credit Union, Freddie Mac target investors with 5/5 ARM
The 5/5 ARM is for lenders that know and understand their borrowers very well and believe in their underlying credit quality. Borrowers gravitate toward this type of ARM because they are less exposed to interest rate swings… Read more at HousingWire.com
Some of the nation’s biggest banks in recent weeks have lowered payment requirements on conventional loans, without private mortgage insurance, to as low as 3%. Some financial institutions are even offering zero-down mortgages. The lending products are geared toward first-time buyers and people with good credit who are struggling saving money.
For home loans, 3 percent down is the new 20 percent
A few financial institutions have brought back zero-down mortgages. Navy Federal Credit Union, which serves members of the military and their families, has offered a zero-down mortgage since 2005. The credit union stopped marketing it for a couple of years during the recession but has been touting it again since 2010. Zero-down mortgages account for 10 to 15 percent of… Read more at IndyStar.com
Death Of A Bank – Cheating on Freddie Mac and Fannie Mae
It seems that the bank was pooling or putting all these PBNBA promissory notes together and selling them to the hidden investors without either of the Investor Club’s knowledge and making tons of money from each promissory note after securitizing and selling these debt and loan pay off promissory notes. The bank was reporting these private banker members’ alleged loans to the… See more
VA Streamline Refinance Loans is a special loan program designed specifically for veterans. VA Streamline Refinance Loans can be issued by any VA-approved lender and are guaranteed by the federal government.
VA Streamline Refinance: About The VA IRRRL Mortgage Program & VA Mortgage Rates
The VA IRRRL is a refinance mortgage loan available to homeowners with existing VA mortgages. The program, which is commonly known as the VA Streamline Refinance, simplifies home refinancing by waiving the documentation typically required by a bank, including income and employment verification, bank account and… Read more at The Mortgage Reports
If you are a military borrower, you are presently getting access to interest low rates compared what’s available to regular U.S. civilians. As a member of the military, your service grants you access to the VA Loan Guarantee Program which is meant to make homeownership mortgage more affordable for military members.
31 Months Straight: Veterans Get The Lowest Mortgage Rates
For mortgage applicants with military backgrounds, it can be downright cheap to get a loan. Current mortgage rates are still low for all loans types — conventional, FHA, VA, USDA and jumbo. But, if you’re a military borrower, you’re currently getting access to interest rates below what’s available to U.S. civilians… Read more at The Mortgage Reports
Minimum Credit Score for VA Loan | VA Loan Requirements
What is the Minimum credit score for VA loan? Eric talks about the importance of credit and what kind of credit score for a VA loan is needed. Score you need to get qualified for a VA loan… Watch it here
If you are shopping for a new home or about to start refinancing, consider yourself alerted. Thirty-year rates are around four percent, and rates for FHA mortgages and VA loans are even much lower. Once the Fed adjourns, rates will be a lot different. The thing is, analysts really don’t know whether rates will go up or go down.
How Mortgage Rates Connect To The Fed Funds Rate
It’s a common belief that the Federal Reserve “makes” consumer mortgage rates. It doesn’t. The Fed doesn’t make mortgage rates. Mortgage rates are made on Wall Street. The Federal Reserve has no direct connection to U.S. mortgage rates whatsoever. Here’s proof: Over the last two decades, the Fed Funds Rate and the average 30-year fixed rate mortgage rate have differed by as much as 5.25%, and by as little as… Read more at The Mortgage Reports
The quarter-point increase in the federal funds rate by the Federal Reserve Board likely will change some of the terms by which you access credit or borrow money. If you want to know what this means for your bank account, credit card or mortgage loan, below is a detailed breakdown of what may happen.
How the Fed rate hike affects your wallet
The economy, the Fed and inflation all have some influence over long-term fixed mortgage rates, which generally are pegged to yields on U.S. Treasury notes, so there’s already been some creep up from record-low levels since the election and well before the Fed made an official move… Read more at CNBC.com
How a Federal Interest Rate Hike Impacts Mortgage Rates
When the Federal Reserve announces a change in interest rates, it makes headlines. But does the federal interest rate directly impact your mortgage rate? See what Windermere’s Chief Economist, Matthew Gardner has to say… Watch it here