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Interest Rates are on the Way Up

by on February 19, 2010

Interest Rates on the Way UP! By Brian Madigan LL.B. The interest rate environment in North America has been low. The US Federal Reserve has maintained the discount rate at 0.50% since June 2006. Now, the rate has now increased to 0.75%. This comes in response to the improvement in financial market conditions. The new [...]

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Canadian Government Clamps Down on Mortgage Affordability Rules

by on February 16, 2010

Government Limits on Mortgage Financing By Brian Madigan LL.B. The Government of Canada has been concerned about the current level of interest rates. The difficulty is that borrowers might qualify now for mortgages that in a few months they may not be able to afford. Both Jim Flaherty, Minister of Finance and Mark Carney, the [...]

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Santa Clara Mortgage rates for 5 Year ARM sink below 4%

by on February 5, 2010

The Mortgage Rates for a 5 Year adjustable rate mortgage (ARM) sank to 4% (and lower in some cases)* for Santa Clara county homes. The rate improvements yesterday has opened up terrific opportunities for home owners and First Time Home Buyers. This is is best suited if: You are a First-Time Home buyer and would [...]

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Santa Clara County Mortgage Rates Set To Go Up

by on January 27, 2010

The Fed’s statement today does not augur well for Santa Clara Mortgage Rates. The Fed said today that it is sticking to it’s plan to end purchases of mortgage securities by the end of March. The purchases have helped to drive down Santa Clara mortgage interest rates (refer chart below for Mortgage Rates in the [...]

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Santa Clara County Real Estate and Mortgage Rates Update

by on January 24, 2010

Weekly dose of Santa Clara County Real Estate and Mortgage Rates commentary. The week that was: Freddie Mac reported in its Primary Mortgage Market Survey® that 30-year fixed-rate mortgage averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, down from last week when it averaged 5.06 percent. The 5-year adjustable-rate mortgage (ARM) [...]

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Mortgage Rates go up steeply for Santa Clara County Homes

by on December 27, 2009

In last 3 weeks, 30 year fixed mortgage rates have gone up 34 basis points for Santa Clara County homes. In the latest results of its Primary Mortgage Market Survey® Freddie Mac reported 30-year fixed-rate mortgage averaged 5.05 percent with an average 0.7 point for the week ending December 24, 2009. The 15-year Fixed Rate this week averaged 4.45 percent [...]

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USDA Rural Development Home Loan Has Lower Monthly Payments Than FHA

by on October 20, 2009

USDA Rural Development monthly mortgage payments Did you know that for the same loan size and a similar rate that the USDA Rural Development Home Loan will ALWAYS have a lower payment than FHA?  Sometimes the USDA Rural Development payment will be substantially lower. Let’s talk rates and payments… When most people shop for a [...]

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Orlando Mortgage Update: Mortgage Rate Outlook for the Week of October 5, 2009

by on October 5, 2009

Orlando mortgage rates looked great for most of last week, but took a bit of a hit on Friday  – sending rates lower overall for the second week in a row. There were two main reasons Wall-Street reacted negatively at week’s end.   The first was data-driven, while the second represents more of a “feeling things [...]

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