Thursday, October 12, 2006

Mortgage rates on the rise

Mortgage rates are on the rise due to increased concern over inflation. "The 30-year fixed-rate mortgage (FRM) averaged 6.37 percent for the week ending Oct. 12, up from 6.30 percent, according to Freddie Mac's (Charts) Primary Mortgage Market Survey. A year ago, the 30-year FRM averaged 6.03 percent." (more)

Need a mortgage broker to refinance that ARM mortgage before rates go to high?

posted by Dahcredyns at 9:44 AM 3 comments

Wednesday, October 11, 2006

Are you worried about your ARM mortgage?

Do you still have an ARM mortgage rate? Did you know that your monthly payments could more than double once your initial 'teaser' rate is over? Are you ready for a higher mortgage payment? What if the value of your house drops?

If you are worried about your ARM mortgage you should fix your rate as soon as possible, especially while home values are still high and mortgage rates are low.

If you can't refinance into a fixed mortgage, try a 5 year ARM.

posted by Dahcredyns at 4:34 PM 0 comments

Thursday, October 05, 2006

Mortgages at 7 month lows

Mortgage rates are at their lowest levels in 7 months according to Freddie Mac. Today's average mortgage rate of %6.30 is still higher than this time last year when rates were 5.98%. Unfortunately, lower rates are not being used by potential home buyers. Instead, most new activity in the mortgage market is for refinancing ARMs into fixed mortgage rates. (more)

posted by Dahcredyns at 4:17 PM 0 comments