San Luis Obispo Mortgage Rate Update – May 14, 2012
Most interest rates remained the same week-over-week, making this the first Monday rate update in over a month in which we cannot report downward movement. Freddie Mac reported that national average rates on the 30-year fixed (3.83 percent) and 15-year fixed (3.05 percent) touched record lows. We can beat those rates, so make sure you give us a call for a free conversation about your finances – 805.543.LOAN. Continue reading “San Luis Obispo Mortgage Rate Update – May 14, 2012” »
San Luis Obispo Mortgage Rate Update – May 7, 2012
Interest rates continue their downward march (pun intended). Since the end of March, rate costs have dropped a point and a half for the 30-year fixed, which translates to a 1.0% drop in APR and thousands of savings in closing costs. The 15-year fixed has shown similar improvements. For more on the savings possibility of a lower rate, see our posts about reducing monthly payments and long-term interest savings.
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San Luis Obispo Mortgage Rate Update – April 30, 2012
Rate costs are now low enough that, with certain characteristics, it is possible to get most closing costs covered (nearly free) at rates as low as 3.625 (3.676 percent APR) and 3.750 percent (3.737 percent APR) for the 30-year fixed, and 3.000 percent (3.2986 percent APR) for the 15-year fixed. For more on the savings possibility of a lower rate, see our posts about reducing monthly payments and long-term interest savings. Read more
San Luis Obispo Mortgage Rate Update – How low can you go?
Rate costs are now low enough that, with certain characteristics, it is possible to get most closing costs covered (nearly free) at rates as low as 3.625 (3.707 percent APR) and 3.750 percent (3.740 percent APR) for the 30-year fixed, and 3.000 percent (3.004 percent APR) for the 15-year fixed. For more on the savings possibility of a lower rate, see our posts about reducing monthly payments and long-term interest savings. Read more
San Luis Obispo Mortgage Rate Update – Costs Drop Again
Time to get off the fence. For the third straight week, interest rate costs have dropped from between an eighth and a quarter point. According to Freddie Mac, the national average for the 15-year fixed rate has hit a record low at 3.11 percent. Our rates are below this average. We are advertising the 30-year fixed at 3.500 percent (3.633 percent APR) and the 15-year fixed at 2.750 percent (2.989 percent APR). Read more
San Luis Obispo Mortgage Rate Update – More Improvements
Mortgage rate costs have dropped once again despite a few random fluctuations. For the week beginning April 8, the 30-year fixed, 15-year fixed and 30-year high balance have all displayed cost improvements over the past two weeks that have brought them down from 1/2 point to 1 full point.
Mortgage Rates Jump After Fed Releases Minutes
The Dow dropped and bond yields rose after the Fed released minutes from its March meeting. As a result, interest rates costs have jumped by about a half point so far. The minutes show debate over QE3 monetary stimulus, but according to CNBC, most members seemed lukewarm to the idea. Overall, the Fed believes the economic outlook is broadly stronger, but still shaky. The Dow drop seems to come from the comment that the Fed might revise the GDP upward, which just shows how finicky traders can be.
San Luis Obispo Mortgage Rate Update – Improvement
The days of higher interest rate costs are behind us. From last Monday, rates have improved to bring us near to where we were before their brief spike. Since last week, the 30-year fixed rate cost has improved by 3/8 of a point, the 15-year fixed by 1/4 of a point, and the 30-year high balance by 3/8 of a point.
San Luis Obispo Mortgage Rate Update – Improvement
After a turn for the worst over the past couple weeks, rates have improved and evened out. The costs aren’t quite as dirt cheap, but they are much more favorable than we have seen in recent weeks. Following, we will give a recap as to why rates have gone up, and where they might go. Read more
National Average on 30-year Jumps; CCL Still Well Below 4 Percent
The Tribune has reported that the average U.S. rate for a 30-year fixed has moved above 4 percent – to 4.08 percent – for the first time in 5 months. Here at Central Coast Lending, we are still well below this mark. Currently we are advertising a 30-year fixed at 3.625 percent (3.810 percent APR).