The RetrieverTraining.Net Forums The Retriever Academy
Total Retriever Training with Mike Lardy
Hawkeye Media Gunners Up Tritronics Outdoor Media
Results 1 to 3 of 3

Thread: Interest Rates

  1. #1
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,897

    Default Interest Rates

    Just got new rates this AM from one of the mortgage lenders:

    30 Year Fixed FHA Rate 4.25% 4.44%
    30 Year Fixed Conv. Rate 4.625% 4.72%





    You'll notice FHA rates are lower than conventional rates. That is because FHA has raised its mortgage insurance rate to almost double previous rate: 1.25% So, that works out to about 5.50% when combined with the interest rate. Also, FHA no longer removes the PMI when 20% equity is reached. It remains there for the length of the loan.

    Also interesting is that the 20-year rate is the same as the 30-year rate. The 15-year rate, however, is 3.75, almost a full point lower than the 30-year rate.

    Home sales increased dramatically in Oct.

    However,
    Should job growth be shown to be strong in November, the Fed may move to end QE3 sooner rather than later which would lead mortgage rates up, similar to what happened between May and June of this year; and again in the days following the release of October's job report.
    With a better-than-expected result, rates could bump 0.25 percentage points in minute
    So, just as the housing market begins a recovery, they will put a lid on it. I have to confess, I don't understand what they are accomplishing.
    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  2. #2
    Senior Member Gerry Clinchy's Avatar
    Join Date
    Aug 2007
    Location
    Pennsylvania
    Posts
    6,897

    Default

    2 wks later ... after the Fed announces that it will not continue to keep the interest rates artificially low ... up 1/4%

    30 Year Fixed FHA Rate 4.375% 4.57%
    30 Year Fixed Conv. Rate 4.875% 4.99%





    This coincides with another recent article on the real estate market for 2014 ...

    http://www.breitbart.com/Big-Governm...covery-in-2014

    With rising interest rates as well, the housing market could be rough in 2014. If that shows up in the spring
    market, it will not be pretty by November.

    G.Clinchy@gmail.com
    "Know in your heart that all things are possible. We couldn't conceive of a miracle if none ever happened." -Libby Fudim

    ​I don't use the PM feature, so just email me direct at the address shown above.

  3. #3
    Senior Member Henlee's Avatar
    Join Date
    Feb 2013
    Posts
    952

    Default

    Quote Originally Posted by Gerry Clinchy View Post
    Just got new rates this AM from one of the mortgage lenders:

    30 Year Fixed FHA Rate 4.25% 4.44%
    30 Year Fixed Conv. Rate 4.625% 4.72%





    You'll notice FHA rates are lower than conventional rates. That is because FHA has raised its mortgage insurance rate to almost double previous rate: 1.25% So, that works out to about 5.50% when combined with the interest rate. Also, FHA no longer removes the PMI when 20% equity is reached. It remains there for the length of the loan.

    Also interesting is that the 20-year rate is the same as the 30-year rate. The 15-year rate, however, is 3.75, almost a full point lower than the 30-year rate.

    Home sales increased dramatically in Oct.

    However,


    So, just as the housing market begins a recovery, they will put a lid on it. I have to confess, I don't understand what they are accomplishing.
    I thought you were not a fan of Quantative Easing? As I understood what I have heard on the news as the job market and economy improve the fed is trying to back out of the programs that it has been using to buoy the recovery. If the market is true to form it will resist and go into a spiral to force the fed into continuing the programs. In my opinion the fed needs to just state that they are doing a draw back at certain times so the market knows what to expect and keep the schedule weather we sink or swim. I believe, but can not prove that the recovery is being sabotaged for short term profits.
    During break time at obedience school, two dogs were talking.
    One said to the other..."The thing I hate about obedience school is you learn ALL this stuff you will never use in the real world."

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •