| Author | Message | ||
     Kuyyo_morro Hero Username: Kuyyo_morro Post Number: 10928 Registered: 02-2011 Posted From: 65.117.253.70 Rating: N/A |
Ninnane loan oditho matlada to change to 15yrs. Ippudu cheyyaku, rates are going up. Wait for some time annadu. | ||
| Rebel Hero Username: Rebel Post Number: 10169 Registered: 02-2008 Posted From: 151.151.109.16 Rating: N/A |
next 2-3 months lo tagge chances unnaya ? or only up up up from here | ||
| Bunty717 Moderator Username: Bunty717 Post Number: 33739 Registered: 02-2008 Rating: N/A |
mama nuvvu PMI paying aa .. yes ante enta paying.. ok ante info cheyi.. | ||
| Maverick Legend Username: Maverick Post Number: 45479 Registered: 01-2008 Posted From: 70.39.231.189 Rating: N/A |
http://www.usatoday.com/story/money/business/2013/05/29/mort gage-rates-rise-refinance-drops/2370411/ Mortgage interest rates are back to their highest levels in a year — and may creep higher still. After hitting a five-month low in early May, rates have made an abrupt turnaround The average rate for a 30-year fixed rate mortgage for loans under $417,500 hit 3.9% for the week ended Friday, the Mortgage Bankers Association said Wednesday. That's the highest since May 2012, and up from 3.59% for the week ended May 3. The latest increase spurred a 12% drop in refinance applications for the week, the largest single week drop in refinance applications this year, the MBA says. The rise in rates has "been a very dramatic move,' says Bob Walters, chief economist for Quicken Loans. "Mortgage rates have jumped more in the past week than they have in years." Rates had been trending higher all month on the strength of good economic reports. They really moved last week, Walters says, as markets reacted to mixed signals from the Federal Reserve that raised the possibility it might begin to taper its purchases of mortgage-backed securities and Treasury bonds sooner rather than later. Those purchases have helped keep interest rates low. "That's created a little panic wobble," says Keith Gumbinger of mortgage tracker HSH.com. Mortgage rates follow the yield on 10-year Treasury notes, which finished at 2.12% Wednesday, up from a low of 1.63% earlier this month. Even if rates head higher from here, they won't go very far, very fast, says Frank Nothaft, Freddie Mac's chief economist. "We're seeing the first steps in a gradual uptick," Nothaft says. Freddie Mac reports its weekly survey data Thursday. For the week ended May 23, it showed 30-year rates averaging 3.59%. Nothaft expects them to move above 4% sometime next year. The Fed has said it will keep its monetary policy in place until unemployment hits 6.5%, assuming inflation is in check, With unemployment running at 7.5%, no big changes are likely, Nothaft says. While higher rates have cooled refinance activity in recent weeks, they could spur some fence sitters, says Doug Lebda, Lending Tree's CEO. Given the rise in home prices the past year, some lenders are also loosening guidelines so more people can refinance, Lebda says. Some loan shoppers, in recent weeks, have also quickly adapted to rising rates by switching to 10-year-loans, which carry lower interest rates than the 30-year fixed rate loans, Walters says. Nationwide, more than 45% of homeowners with a mortgage had interest rates above 5% as of December, shows data from market watcher CoreLogic. Many of those homeowners probably lack enough equity in their homes to qualify for a new loan. Home buyers, meanwhile, are not likely to be put off by higher rates, which are still very low, says economist Christopher Thornberg of Beacon Economics. Instead, if rates keep drifting up, "you might spike the market for six months as people rush to buy," he says. Thornberg expects interest rates to settle between 4% and 5% next year. Who is this DB member? nenu anumanapu mogudu laaga jrNTR seelanni sankinchina maata nijam BUT mugguru karudugattina only balayya fans (who watched badshah tho) matladaka they certified "maakemi anipinchaledhu" |
