Low Mortgage Rates Continue
The standard of 30-year fixed mortgage rate is at a new low record for the third straight week with a reduction to 4.35%, according to the weekly survey of Bankrate.com. In the previous week, this was at 4.37%. The average 30-year fixed mortgage has an estimate of 0.38 mark down and origination points.
A complete listing of mortgage rates in different areas can be found at http://www.bankrate.com/funnel/mortgages/

The mean rate for 15-year fixed mortgage stayed at 3.48% while that of the 30-year fixed mortgage is at 4.86%. The trend of the adjustable mortgage rates is different. For a 5-year adjustable mortgage, the rate is moving higher to 3.1%. On the contrary, the 7-year adjustable mortgage rate is getting lower to 3.21%.
Bankrate.com conducts their weekly survey every Wednesday. It uses the data given by top 10 banks. The results of its survey are also based from the record provided by top 10 markets’ thrifts.

A bad employment report pulled down the mortgage rates for the sixth straight week. Fears of a threatening recession and continuous economic depression have increased the attractiveness of long-term Treasury securities, with very low projected returns. Fixed mortgage rates and mortgage-backed bonds’ profits are highly correlated with the returns on 10-year Treasury notes. Although there is a possibility that the Federal Reserve will find ways to decrease the long term interest rates even further as a way to continue lowering mortgage rates, growing the number of qualified refinancers will make the low rates of mortgages impact the economy at a bigger scale.

The last period when mortgage rates were above 6% was in November of 2008. Specifically, the average rate for a 30-year fixed mortgage during that time was at 6.33%. So a loan of $200,000 back then required a monthly payment of $1,241.86. With the present rate of 4.35%, the same amount of loan will only charge $995.62 for monthly payment. This is a $246 difference every month for anyone who is refinancing at the current rate.

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The best mortgage for you depends on a lot of different factors.

Here is a quick list of different factors and loans that you may want to consider…

Conforming standard loans are for amounts up to $417,000 and eligible for purchase by Fannie Mae and Freddie Mac.

Conforming jumbo loans are for amounts up to $729,750, the maximums varying by county, and eligible for purchase by Fannie Mae and Freddie Mac.

Non-conforming jumbo loans are for amounts that exceed the conforming jumbo county limits, which range up to $729,750.

FHA standard loans are for amounts up to $217,050 and eligible for insurance by FHA.

FHA jumbo loans are for amounts up to $729,750, the maximums varying by county, and eligible for insurance by FHA.

Now, things may have changed quite a bit…

it was not long ago that you could get a 100% ltv loan, or get a loan with bad credit.. meaning even no credit.

you could also get a liars loan… this was really called a no doc loan. Meaning you got the loan based on not having to fill out any financial documentation.

All you essectially had to have was a pulse.

Now, times have changed, and things aren’t like that anymore….

One thing to note, interest rates are looking pretty good.

As of this writing, you can get a 30 year fixed rate loan for 4.5% That is really amazing…

Rates have never been this low.

Talk to your mortgage broker or loan officer to find out what other options may be ther for loans and what you can qualify for.

You may yell “Wow!” you say to your family as you hit the brakes on the car. “Did you see the mortgage rate those guys are promoting?” Your concerns are over you may be thinking. You basically got to lock in a rate like that for the next ten years and you are set.

Not so fast. That rate may not be the right one for you. Normally, the lowest available rate – and the one that makes the rate sign look great from the street – will be for a variable or adjustable-rate mortgage. This rate has the prospect to be like a roller coaster in the future. The posted variable is the rate you’re getting today and you won’t be able to predict what kind of ups and downs are ahead of you.

A lender will offer different rates for different kinds of mortgages. The rates are established dependent on financial risk; both to you and to the lender. When a client is willing to accept the risk, then he or she is rewarded with a lower rate. If the lender is taking on the risk (meaning that the rate is constant through the future), then the rate is higher. The longer the term, the higher the risk for the lender.

So how do you decide? You should choose fixed-rate mortgages because they require a low risk margin and are usually better choice for first-time buyers. Alternatively, ask yourself these questions when deciding: Do you need to know exactly what your payment is going to be over a long period of time? Do you want to avert the need to always watch the rates? Do you have less than 25% down? Should you answered “yes” to all, or most of these questions, a more conservative fixed-rate mortgage could be the better choice to you.

A variable or adjustable-rate mortgage is best suited to people who have a flexible budget and can support higher risk. You should also askyourself these questions: Do you constantly watch market conditions? Can you handle any sudden rate increases that could increase your payment? Do you have 25% or more equity in your home? If you answered “yes” to all, or most of these questions, then a variable or adjustable-rate mortgage might best suit your needs.

You could discuss with your mortgage broker if your institutions offer a particular promotional rate for the first few periods of a variable-rate mortgage. Also ask what your rate will be dependent on – prime minus 0.5% or 0.6% or on Bankers’ Acceptances (BAS) plus 1%. The latter is a new kind of adjustable-rate mortgage that has recently been presented to the marketplace. Most variables or adjustable allow you to exercise an option to “lock in” a fixed rate at any time for the remaining portion of your mortgage term or for a longer term.

If the uncertainty of a floating rate is going to give you stress, then you may wish for a fix rate over the term. Many people like having the the certainty of a fixed-rate mortgage. They know precisely how much they will pay over the term of their mortgage, and so they can plan accordingly and there are no financial surprises. If the rates do drop… and drop… and drop… you are committed to the rate that you have made. The advice is to have a mortgage broker help you decide which option best meets your needs or else do some research online to see what most people go with.

Mortgage Tips Site , find info and help on you mortgage options, Click Here.

You should be able to find several indispensable facts about investment property mortgage rates in the following paragraphs. If there’s at least one fact you didn’t know before, imagine the difference it might make.

Mortgage rates are in their best range, even though there is a lot of new government debt coming on the market through new auctions next week. Use one of the best mortgage brokers on the web. They are the leading company that enables us to find the best mortgage online. Mortgage reduction depends on the daily balance of the loan, affecting its rate and length of paying period. There are companies offering mortgage reduction assessment for free, and they could help people decide on which options to choose that would be more beneficial for them in the long term.

Mortgage notes can be sold in whole or part. When a partial home mortgage is sold, a Partial Purchase Agreement must be attached to the Assignment of Mortgage. Mortgages, investment, and tax strategies mentioned on this website are not appropriate for everyone. In many cases, they may not be feasible at all and/or entail serious risks. Mortgages were not recorded and exorbitant fees were collected by the big firms on Wall Street.

If you base what you do on inaccurate information, you might be unpleasantly surprised by the consequences. Make sure you get the whole mortgage refi story from informed sources.

Mortgages can be a minefield, from first time buyers to buy to let mortgages, it is necessary to do your research first so you can compare the market and compare the mortgages on offer. Review Centre offers reviews of users experiences to help you decide what mortgage company has the best mortgage, rate or application process.

Mortgage lending can still be very safe with higher LVR’s. The banks just need to be more careful with brokers and income and debt servicing. Mortgage originations have slowed considerably over the past two years.

Mortgage holders in danger of losing their homes can post their stories and request help and advice with their mortgage problems. Blog entries paint a horrifying picture of mortgage companies refusing to accept payments so that they can collect higher interest rates, foreclosures forced through in spite of repeated efforts to refinance, and companies forcing people out of their homes with no regard to personal situation.

Sometimes it’s tough to sort out all the mortgage refi details related to investment property mortgage rates, but I’m positive you’ll have no trouble making sense of the information presented above.

Samuel Johnson is the author of this article. MortgageSet.com provides top information on investment property mortgage rates and offers mortgage refi tools. You may reprint this article provided this paragraph and all hyperlinks are kept unchanged.

Would you like to find out what those-in-the-know have to say about the advantages and disadvantages of mortgages? The information in the article below comes straight from well-informed experts with special knowledge about mortgage amortization calculator resources.

Choosing reputable, established lenders who are willing to disclose all costs up front can save you a lot of heartache later on. Beware of lenders who offer irresistible deals but are unwilling to discuss the processing costs in detail. Choose one that you fit you and your budget. But before you decide to choose one of the insurance products, you need to know the rate of the mortgage loan so that you can match it with your income. To know and compare the rates between the loans you need to open.

Some home loan rates are generally .5% to .75% higher than conventional mortgage rates so you can do the math and see the 30 year fixed is around 5.61%. Loan requirements have evolved for Connecticut mortgage loans. The changes were long overdue and the changes are mostly for rising Connecticut adjustable rate mortgages. Home loan rates for October 8th, 2009 have remained stable for much of the morning. The 30 year fixed conventional mortgage rate is currently at 4.9% while the 15 year fixed is at 4.37%.

If you base what you do on inaccurate information, you might be unpleasantly surprised by the consequences. Make sure you get the whole story on the advantages and disadvantages of mortgages from informed sources.

Lenders give lock in periods for both rates and points. Lenders will accept as low as 5%, but the mortgage rate will be higher. A down payment of 20% or more will get the consumer the best home loans mortgage rate possible. Lenders come in several forms, from credit unions and banks to mortgage brokers. Mortgage originators introduce and market loans to consumers.

Borrowers pay points to a bank when a loan is settled. One point represents a percentage point of the entire mortgage balance. Borrowers would then be able to sell their homes at prices higher than their mortgage balances, getting out of their still-unaffordable original mortgages without huge losses for lenders. Washington is trying to prearrange this outcome through other programs, such as its $8,000 tax credit for first-time homebuyers-another attempt to keep home prices artificially high with taxpayer money.

Banks want to see that you fulfil your commitments, so it’s better to pick up the phone and negotiate a “pennies on the dollar” settlement now, and get it behind you. Otherwise many lenders will require you to pay the full amount as a part of your closing conditions and will give you a higher interest rate as a result of your clear demonstration of defaulting on your debt.

Take time to consider the points presented on the advantages and disadvantages of mortgages above. What you learn about mortgage amortization calculator resources that may help you overcome your hesitation to take action.

About the author: MortgageSet.com provides useful information on the advantages and disadvantages of mortgages along with free mortgage amortization calculator tools. You have full permission to reprint this article provided this paragraph and all hyperlinks are kept unchanged.