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.
I think it already has
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
f
l
m
a
o
what are people seeing this week for a 30 year fixed on a second home?
Jumbo or conforming?
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.
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.
Meh... things might be "threatened" elsewhere, but not in Manhattan. Holding strong!
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.