Freddie Mac reported a 30 year fixed-rate mortgage averaged 5.05% and the highest since its increase from a lowest record of 4.17%.

Economists say that rates have to increase more to squelch a housing market recovery and added that if they do that, the federal government would pull down the rates.

A mortgage researcher Keith Gumbinger says increase in interest rates is unwelcoming and not enough to kill purchases in the housing market.

Patrick Newport, an ISH Global Insight economist says that rates should be higher than 6% to discourage big amount of sales.

They are still lower in historical standards even if rates have increased rapidly. 30 year fixed loans have averaged 6.9% for the past 20 years and averaged a lower of 5.93% average for the past 10 years, Findlay says.

Fourth quarter home sales increased because of low rate and low home prices, according to the National Association of Realtors. It rose 15% from the third quarter. But when federal tax credits boosted its sales, they were 20% lower.

The NAR says that 78 out of 152 metropolitan areas were increased year-over-year for median prices just for single-family homes and it is expected by Newport that its prices were to drop further to turn around during middle of the year.

Other larger markets also posted good price gains because of the strong job growth. Median was increased to 8.1%, 4.2% and 4.1% year over year in Washington, D.C, The Boston region and Austin respectively.
Nar economist Lawrence Yun says that 2010 sales noticeably recovered. Yun expects that it will still manage to gain more despite the increase in rate that he predicts and probably will be 5.5% higher by the end of the year.

But Yun says that job creation will still decrease rates and still improve home sales.

On the other hand, Gumbinger says that refinancing activity will be affected when rates will be increased. According to Mortgage bankers Association 10 year treasury bonds are followed by mortgage rates, which have increased lately.

Related articles

• Will mortgage rates continue to rise this week? (hsh.com)
• Mortgage Default Rates (themortgagepot.com)

Mortgage rates are increasing to its highest level but the rise is not enough to disrupt the strengthening market of U.S. homes.

In February this year, a fixed rate mortgage for 30 years is estimated at 5.05%. This is the highest rate since the 2nd quarter of the previous year. This is also a sharp increase from a record low of 4.17% in the 4th quarter last year. However, this rise is not enough to end the recovering housing market according to most economists.

If the rates adversely affect the market, the federal government will surely find ways to pull down the interest rates. Patrick Newport, a global insight economist said that rates would have to increase to at least 6% to cause a decline in housing sales. But, the moment it reaches 5.5%, the government will surely take the necessary steps to control it from increasing further added Lending Tree’s chief economist Cameron Findlay.

Low interest rates in the 4th quarter of the past year contributed to the high sales reported by the National Realtors. Specifically, the sales increase by 15% from the third quarter of the same year. However, this figure is still below 20% than the previous year when the tax credits given by the federal government helped boost sales. Average prices of homes owned by single families increased annually in almost 78 of the 152 urban areas. But this is only a 0.2% increase all over the country. Newport further added that home prices will keep dropping and turn around in the middle of this year.

The increasing prices in the housing market may be attributed to the fact that there is a growth in jobs. Some cities that showed increasing rates include Boston, Washington and Austin. The rates grew by 4.2%, 8.1% and 4.1% respectively for each of these cities.

Related articles

• Rates rise on fixed-term mortgages (moneyville.ca)
• Is It Finally a Good Time to Buy a House Again? (dailyfinance.com)

Singapore is a place where property is very precious but there are some places where you can find cheap places in decent localities. If you are looking forward to buy a place in Singapore then you must concentrate on various aspects. It could be for anything- personal, business, organization, etc. Property is valuable everywhere and whatever a person does in his life his main goal is to buy a place for his future.

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How do I get a personal loan with bad credit?

if you are looking for a bad credit personal loan, it’s important that you prepare yourself for the costs alone like this. Typically, a personal loan is an unsecured loan. This is different from a car loan or home mortgage because a car loan or mortgage is considered a secured loan. Basically the loan amount is secured by the asset in this case either a car or a house.

What were talking about personal loans, they are sort of like credit cards and that there is nothing to secure the debt. What this means is that the requirements for a personal loan are different than a secured loan. One of the biggest requirements for any kind of personal loan is having excellent credit. If you are going to try to get a personal loan, typically the bank is going to require a credit score of 700 or more. If you don’t have this kind of credit score, it may be tough to get a personal loan. Read the rest of this entry

Most of the government’s TARP money (see the $700 billion dollar bailout) is being used for loan modifications such as yours. The government’s TARP money will not last forever, get your fair share before it’s too late.

Last week the lawyers reduced a customer’s loan by $85,000. The mortgage loan had roughly $249,000 left to be paid. The current market value of the home was roughly $164,000. The lawyers were able to modify the loan down to the current market value, saving the customer $85,000. This lowered the customers payments and she was able to stay in her home. Individual results may vary positively or negatively by customer. Fill out the form above to see where you may stand.

The Most Loan Programs for good people with Poor Credit!

I could easily add more about Loans For People With Bad Credit. It scaled up very nicely. The first rate you see may not be the best rate that is actually available. One of the things you need to do is away your options and to a lot of shopping around. Read the rest of this entry