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Mortgage Rates Six Month High, Threatening Housing

Started by Apt_Boy
over 15 years ago
Posts: 675
Member since: Apr 2008
Discussion about
will this effect the nyc housing market??? Mortgage Rates Hit Six Month High, Threatening Housing Published: Thursday, 9 Dec 2010 Rates on fixed mortgages rose for the fourth straight week this week, hitting 4.61 percent. The surge could slow refinancings and further hamper the housing market. Freddie Mac said Thursday that the average rate on a 30-year fixed loan increased sharply from last week's rate. And it is well above the 4.17 percent rate hit a month ago— the lowest level on records dating back to 1971.
Response by 875gator
over 15 years ago
Posts: 193
Member since: Sep 2010

I think it already has

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Response by Apt_Boy
over 15 years ago
Posts: 675
Member since: Apr 2008

Today's rates:

Home Purchase Mortgages
30-year Fixed 15-year Fixed
Rate % Points APR % Rate % Points APR %
Bank of America 4.625 1.250 4.827 4.125 1.000 4.437
CitiMortgage 4.875 0.750 5.144 4.250 0.750 4.706
JP Morgan Chase 5.000 0.875 5.077 4.375 0.750 4.487
Wells Fargo 4.875 1.000 5.274 4.250 1.000 4.757

Refinance Mortgages
30-year Fixed 15-year Fixed
Rate % Points APR % Rate % Points APR %
Bank of America 4.750 1.375 4.980 4.250 1.000 4.589
Wells Fargo 4.875 1.000 5.065 4.250 1.000 4.573

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Response by w67thstreet
over 15 years ago
Posts: 9003
Member since: Dec 2008

f
l
m
a
o

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Response by ekartash
over 15 years ago
Posts: 364
Member since: Jun 2007

what are people seeing this week for a 30 year fixed on a second home?

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Response by NYC10013
over 15 years ago
Posts: 464
Member since: Jan 2007

Jumbo or conforming?

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Response by truthskr10
over 15 years ago
Posts: 4088
Member since: Jul 2009

Certainly some effect but I'd pay more attention to what government will do with which tax deductions.
Some of the things they are talking about would be downright disaterous to RE.

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Response by ekartash
over 15 years ago
Posts: 364
Member since: Jun 2007

nyc10013. conforming.

truthskr10, not if they also lower the tax rates. going from 35 to 26 would be nice, even if that means losing the mortgage duduction.

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Response by pulaski
over 15 years ago
Posts: 824
Member since: Mar 2009

Meh... things might be "threatened" elsewhere, but not in Manhattan. Holding strong!

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Response by FirstApt
over 15 years ago
Posts: 12
Member since: Dec 2010

We're closing in mid-February. Should I lock in today (jumbo 30 yr fixed)? Rates were so low just 2 weeks ago (outside of lock period)! I want to wait, but my husband thinks we should just lock now b/4 they go up any higher.

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