Archive for the 'Mortgage Rates News' Category

Many publications and web-sites have cited an increase in the demand for home loans, specifically refinances. This is most likely caused by one of 2 reasons. First, rates have trended down over the past few months with speculation that they will remain at their current levels. Second, there are a great deal of ARMs (adjustable rate mortgages) that are hitting the adjustable portion of their loans. In a majority of those cases the adjusted rate is going to rise so the borrowers are looking to lock into a lower fixed rate.

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If you have an ARM (Adjustable Rate Mortgage) and it will be adjusting in the next few months chances are, if you took out this loan 2 or 3 years ago, the rate will adjust higher. Therefore it could be time to look into locking into a long term fixed rate loan. You can save yourself a great deal of money per month by locking into a fixed rate payment.

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Well the early indications are good that rates are beginning to lower. They have remained constant over the past few months, with a few dips. But last week 30 year fixed dropped under 6.25%. Another indicator was that the Federal Reserve isn’t planning on increasing the funds rate. The benchmark rate that the Fed has increased over the past 2 years. So it could mean rates will remain where they are and might drop a little over the next few months.

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