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December 9, 2008 at 10:32 PM #314053December 11, 2008 at 8:17 AM #314157
Raybyrnes
ParticipantSAN FRANCISCO (MarketWatch) — Freddie Mac (FRE:Freddie Mac
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FRE 0.70, -0.05, -6.6%) said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate mortgage rates room to ease back a little further,” said Frank Nothaft, Freddie Mac chief economist, in a statement.December 11, 2008 at 8:17 AM #314515ParticipantSAN FRANCISCO (MarketWatch) — Freddie Mac (FRE:Freddie Mac
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FRE 0.70, -0.05, -6.6%) said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate mortgage rates room to ease back a little further,” said Frank Nothaft, Freddie Mac chief economist, in a statement.December 11, 2008 at 8:17 AM #314547ParticipantSAN FRANCISCO (MarketWatch) — Freddie Mac (FRE:Freddie Mac
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FRE 0.70, -0.05, -6.6%) said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate mortgage rates room to ease back a little further,” said Frank Nothaft, Freddie Mac chief economist, in a statement.December 11, 2008 at 8:17 AM #314568ParticipantSAN FRANCISCO (MarketWatch) — Freddie Mac (FRE:Freddie Mac
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FRE 0.70, -0.05, -6.6%) said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate mortgage rates room to ease back a little further,” said Frank Nothaft, Freddie Mac chief economist, in a statement.December 11, 2008 at 8:17 AM #314640ParticipantSAN FRANCISCO (MarketWatch) — Freddie Mac (FRE:Freddie Mac
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FRE 0.70, -0.05, -6.6%) said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate average was 5.47% with an average 0.7 point for the week ending Dec. 11, down from 5.53% a week ago. Last year the average was 6.11%. The 30-year average has not been lower since March 25, 2004, when it averaged 5.4%, Freddie Mac said. “Following the release of the November employment report, which showed the largest monthly decline in jobs since December 1974, bond yields fell slightly this week allowing fixed-rate mortgage rates room to ease back a little further,” said Frank Nothaft, Freddie Mac chief economist, in a statement.December 12, 2008 at 10:50 AM #314746HLS
ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
December 12, 2008 at 10:50 AM #315103ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
December 12, 2008 at 10:50 AM #315137ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
December 12, 2008 at 10:50 AM #315159ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
December 12, 2008 at 10:50 AM #315230ParticipantThat’s more misleading information to confuse people.. but I guess the rate sounds good.
Those are retail rates.People have no idea what they qualify for.
For those that do qualify,Right now, the 30 YR WHOLESALE rate is 4.875%
That’s with 1 point + 3rd party closing costs.With 0 points 5.375% + closing costs.
Can change at any time.
I know a mortgage guy who is calling his buddies and past clients right now, telling them he has a great deal for them, 5.25% with ONLY 1 point, and they are falling for it. He’s screwing his friends.
He will get a nice chunk back from the lender as well.
They think that it’s good to have friends in the mortgage biz…..they are so lucky !!!
December 12, 2008 at 4:17 PM #314967ParticipantHLS
That article is from the Wall street Journal. There is nothing misleading about it. It says the average rates. If you are a 20% down 720+ person you can expect to do better. If not you may do worse.
I wouldn’t go around throwing every article out there under the water. You begin to lose credibility at that point. JMTC
December 12, 2008 at 4:17 PM #315323ParticipantHLS
That article is from the Wall street Journal. There is nothing misleading about it. It says the average rates. If you are a 20% down 720+ person you can expect to do better. If not you may do worse.
I wouldn’t go around throwing every article out there under the water. You begin to lose credibility at that point. JMTC
December 12, 2008 at 4:17 PM #315357ParticipantHLS
That article is from the Wall street Journal. There is nothing misleading about it. It says the average rates. If you are a 20% down 720+ person you can expect to do better. If not you may do worse.
I wouldn’t go around throwing every article out there under the water. You begin to lose credibility at that point. JMTC
December 12, 2008 at 4:17 PM #315378ParticipantHLS
That article is from the Wall street Journal. There is nothing misleading about it. It says the average rates. If you are a 20% down 720+ person you can expect to do better. If not you may do worse.
I wouldn’t go around throwing every article out there under the water. You begin to lose credibility at that point. JMTC
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