http://7percentmortgage.com Lock it in! Tue, 02 Sep 2008 23:37:14 +0000 http://backend.userland.com/rss092 en Mortgage rates edged down over the long weekend with the 30-year fixed rate mortgage average slipping to near 6.25%.  The jumbo and the 15-year fixed also edged down over the holiday weekend.  As I mentioned previously, any ability to grab a mortgage when the national average is near 6% was ... http://7percentmortgage.com/2008/09/02/mortgage-rates-edge-down/ Government sponsored entities Fannie Mae and Freddie Mac got a much needed boost today when they announced that they had sold $2 billion in short term loans.  This should allow the two companies to continue to guarantee new loans and make money.  Without the selling of debt, the two firms ... http://7percentmortgage.com/2008/08/26/fannie-and-freddie-secure-funding/ Last week, mortgage rates ended up slightly with the 30 year fixed mortgage rates up 6 basis points to 6.39% and the 15 year fixed rate mortgage up 9 basis points to 5.95%.  Some stability is coming back to the market and many believe that US interest rates will be ... http://7percentmortgage.com/2008/07/28/mortgage-rates-end-week-up/ While the solvency of mortgage bond originators and large holders is/has been called into question lately, it seems as if the mortgage bond market is beginning to shore up.  This is a good sign for real estate investors and with some confirmation may signify the overall bottom in the macro ... http://7percentmortgage.com/2008/07/21/agency-mortgage-bonds-look-attractive/ So Uncle Sam is going to move to save Fannie Mae and Freddie Mac.  Super, sounds like another instance of an "avoided failure" among financial institutions.  But everyone seems to be wondering, isn't failure supposed to happen in market economies?  Something of a moral hazard issue. At least that's what we ... http://7percentmortgage.com/2008/07/15/why-uncle-sams-bailout-helps-mortgage-holders/ In what amounts to a modicum of good news for real estate investors and homeowners, the 30-year fixed mortgage rate creeped back near my "take it" rate of 6% (using the national average, of course, local rates and credit score both affect rates significantly).  The 30-year fixed rate mortgage end ... http://7percentmortgage.com/2008/07/13/mortgage-rates-creep-down-last-week/ Despite the latest hawkish tone that drove oil down and the dollar up last week, we're seeing a new tone from analysts and traders who sent oil flying again on Monday.  The dollar also retreated as many believe that the Fed cannot afford to raise rates, even by a quarter ... http://7percentmortgage.com/2008/06/16/dollar-oil-move-despite-bernanke/ I have a lot of people email me and ask about what is going on in California with mortgage rates and the real estate market.  Unfortunately, I do not have a great idea as to what is going on with the real estate market in California as I have been ... http://7percentmortgage.com/2008/06/12/mortgage-rates-in-california/ Anxious real estate investors are wondering whether or not they will get another chance to open up 30 year fixed mortgages at 6% or less.  Last week the fixed ended at 5.98%, but the Fed's recent tone of rising interest rates has led the rates to boom to 6.19% for ... http://7percentmortgage.com/2008/06/11/mortgage-rates-going-back-to-6/ There is a growing trend of 'national' real estate investing.  This is something that I have been doing for years, not because I'm any type of genious, but out of necessity.  Investors are turning to the national stage to invest as their local areas continue to search for a bottom ... http://7percentmortgage.com/2008/06/10/national-real-estate-investor/