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Mortgage Rates Hit Record Lows During July, 2020 Dipping Below 3% to 2.98% on July 16, 2020 Ending at 3.01% on July 23, 2020 Interest Rates Drop for 3 Consecutive Weeks Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down […]
New Conforming Loan Limits for Conventional Loans in 2020 Plus Increases in FHA LIMITS The Federal Housing Finance Agency (FHFA) announced in November 2019 that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2020 would be raised again to $510,400, effective January 1, 2020. […]
Freddie Mac PMMS Interest Rates Survey November 2019 Scroll down to see summaries of weekly rate updates October 31, 2019 Rate Survey MCLEAN, Va., Oct. 31, 2019 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.78 […]
Freddie Mac PMMS Interest Rates Survey October 2019 October 24, 2019 Survey Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing that the 30-year fixed-rate mortgage (FRM) averaged 3.75 percent, the highest it’s been in 12 weeks. “The outlook for a favorable resolution to the trade dispute between the […]
Mortgage rates drop due to Wall Street’s tariff fears A threat of Mexican tariffs could help home buyers and homeowners looking to refinance. Worried investors moved more money into bonds, which nudged the average 30-year fixed-rate mortgage down to 3.82% – a decline from last week’s 3.92%, the first to break below […]
The Federal Housing Finance Agency (FHFA) announced in November 2018 that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019 would be raised again to $484,350. PLEASE SEE A NEW POST ON THE NEW 2020 LOAN LIMITS FOR CONVENTIONAL AND FHA LOANS HERE – 1 Unit […]
How are Purchase Loans Made? Steps to Homeownership: Before you get started looking for homes, it is good to do some preparation, so when you find the home you’re looking for, you are ready to make an offer and will have a smooth process until closing. Pre-Qualification and Pre-Approval: 1. Pre-qualification or Pre-Approval – […]
Rates for 30-year fixed mortgages fell to the lowest level of the year last Thursday and near historical all-time lows. Following is a chart of the Freddie Mac Primary Mortgage Market Survey (PMMS) showing last weeks average national rates (June 10, 2010 PMMS Survey) for 30 year and 15- year fixed rates and 5- and […]
It’s important for buyers to know what your closing costs and mortgage payments are going to be when you start to look for a home and get pre-qualified. I’ve prepared a Buyer’s Estimated Closing Costs Pro-Forma: 80% FRM Loan, 6.5% Int., 10-21-07 (pdf) based on a specific scenario that shows total proposed closing costs, estimated […]
In this week’s Mortgage Interest Rate Survey, Frank Nothaft, Freddie Mac vice president and chief economist said, “October’s consumer confidence fell to its lowest level since October 2005 as mortgage rates continued to decline this week to their lowest level in almost six months. Continued market concerns about weaker economic growth and further declines in […]
1973 SW Savage Blvd., Port St Lucie, FL 34953