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Tag Archives: Bankrate

Many Borrowers Face Higher Payments When HELOCs Reset

In raw dollars and cents, take this example from Bankrate: A $30,000 balance at 3.25 percent interest (the current prime rate) equals a minimum payment of $81.25. But after the 10-year mark, that balance resets to a 20-year repayment schedule and the minimum due each month bloats to $170.16.

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Mortgage Rates Pick Up for Second Straight Week

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) was 3.76 percent (0.6 point) for the week ending February 19, up from 3.69 percent a week ago and the highest rate since 2014's final reading.

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Continued Job Growth Lifts Mortgage Rates from 2015 Lows

Freddie Mac's Primary Mortgage Market Survey for the week ending February 12 shows the average interest rate for a 30-year fixed-rate mortgage (FRM) was 3.69 percent (0.6 point) this week, up a full 10 basis points from last week's 2015 low of 3.59 percent.

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Mortgage Rates Continue to Tick Down

The average interest rate for a 30-year fixed-rate mortgage (FRM) slipped 7 basis points in the last week, settling at 3.59 percent (0.7 point) for the week ending February 5, Freddie Mac reported Thursday. "Mortgage rates fell this week following the release of weaker than expected pending home sales, which fell 3.7 percent in December," said Len Kiefer, deputy chief economist for Freddie Mac.

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Survey: Americans Unconcerned About Mortgage Rates

In findings released Monday, Bankrate.com revealed that out of 1,000 adults polled last month, more than three in five would prefer to own a home instead of renting, even if mortgage rates jump by more than a full percentage point above their current level. As of last week, Bankrate's measure for the average 30-year fixed mortgage rate was 3.80 percent.

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Mortgage Rates Hold Near All-Time Lows

According to data released by Freddie Mac on Thursday, the average interest rate for a 30-year fixed-rate mortgage loan was 3.66 percent (0.6 point) for the week ending January 29. This week's movement marked a slight increase from last week's average 3.63 percent—the first time this year that rates have gone up in the company's survey.

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Mortgage Rates Mixed in Weekly Reports

Freddie Mac's weekly Primary Mortgage Market Survey saw a slight drop in the 30-year fixed rate to an average 3.63 percent (0.7 point) for the week ending January 22, the company reported Thursday. With the decline, the 30-year fixed-rate mortgage (FRM) remains at its lowest average since May 2013.

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Global Economic Woes Drag Mortgage Rates Down Further

In a survey released Thursday, Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged a rate of 3.66 percent (0.6 point) for the week ending January 2015, a decline of 7 basis points from last week. Last year around this time, the 30-year FRM averaged 4.41 percent.

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Mortgage Rates Sink to Pre-‘Taper Tantrum’ Levels

Freddie Mac reported Thursday that the average interest rate for a 30-year fixed-rate mortgage (FRM) fell to 3.73 percent (0.6 point) in the last week, a decline of 14 basis points from the end of 2014. The 30-year fixed started off last year at an average 4.51 percent.

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What Will 2015 Bring for Mortgage Rates?

With the Federal Reserve recently ending its monthly asset purchases and turning toward the possibility of bringing short-term interest rates up in 2015, analysts (including economists at Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and other housing groups and companies) are calling for the average 30-year fixed mortgage rate to rise to nearly 4.5 percent, with some calling for an average closer to 5 percent.

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