Welcome to Mortgage Rates Guide
Mortgage Rates Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
Understanding Mortgage Interest Rates
from:Unlike renting, buying a home is a great investment; it is like having money in the bank. Renting, on the other hand is like throwing money away, which is why many people prefer to own their own homes. Mortgage interest rates and other costs can be a deciding factor for people deciding to buy a new home or refinancing their present home. Often empty nesters decide it is more beneficial to sell their family home and buy a smaller home if the mortgage interest rates are affordable.
Ultimately mortgage rates reflect the results of the business done on Wall Street. Investors buy bundles of mortgages in the form of securities. The federal funds rate influences on the mortgage interest rates that banks have to charge borrowers, so the banks can recoup their money and make a profit. As the economy changes it affects the prime rate on adjustable rates mortgages (ARM), car loans, credit card credit lines, and mortgage interest rates of all kinds. Our whole economy is based on what happens on Wall Street, and our interest rates reflect that.
The better your credit history the better the mortgage interest rates you can qualify for. If your credit is not perfect you may still be able to get a mortgage loan, and you may also be able to buy points to get lower interest rates offered to you. If your credit history is less than perfect, you may be required to pay on the mortgage note for a certain number of years before you can make extra payments to lower the principal amount of your loan; however, if your bank or lending institution allows you to pay your note off early, it is a good thing to do because lowering the principal generally lowers mortgage interest rates.
If your lending institution will allow you to refinance your existing loan to lower your mortgage interest rates, it is a good thing to talk to a financial advisor about the mortgage interest rates that you would qualify for. The interest rates vary; the fixed rate stays the same for the duration of the loan contract, and an ARM changes periodically. Your interest rate may go up or down every 6 months to a year, however your mortgage loan is set up.
You may get lower mortgage interest rates on longer loans, but slightly higher interest rates on shorter loans will save you many thousands of dollars over the life of your loan. If you compare the interest rates on a 30 year note and a 15 year note, you will see that the 15 year not will save you a lot, even though your monthly payments are more than with a 30 year note.
Warning: file(http://www.searchfeed.com/rd/feed/TextFeed.jsp?trackID=J3730476078&pID=marcilio&cat=Mortgage+Rates&nl=5&page=1&excID=) [function.file]: failed to open stream: HTTP request failed! HTTP/1.1 404 Not Found
in /home/marcilio/public_html/mortgage/rates/datas/searchfeed.php on line 8
Mortgage Rates Specific links
Mortgage Rates News
Mortgage Rates Steady - The Ledger
 Washington Post | Mortgage Rates Steady The Ledger Mortgage rates held below the 5 percent threshold for the second straight week, a report said Thursday. The average rate on a 30-year fixed rate mortgage ... Mortgage Rates Tick Down to 4.95% 30-year fixed-rate mortgage averages 4.95% US mortgage rates drop 2nd straight wk-Freddie Mac |
JP Morgan Chase Home Loan Mortgage Refinance Rates Stay Low In March 2010 - Red, White, and Blue Press (blog)
JP Morgan Chase Home Loan Mortgage Refinance Rates Stay Low In March 2010 Red, White, and Blue Press (blog) Many people are getting mortgage rates for around 5%, or lower if they qualify, and refinancing to a lower interest rate may also lead to a lower monthly ... Loan Modification- A Trusted Solution To walk away or not to walk, is that the question? Home Loan Mortgage Refinance Rates Low For Wells Fargo Homeowners |
Reality Check for Bank Investors, Mortgage Investors and Home Buyers - Huffington Post (blog)
 The Money Times | Reality Check for Bank Investors, Mortgage Investors and Home Buyers Huffington Post (blog) Mortgage charge-off rates on Prime loans and Alt-A loans increased by 25bps and 21bps to 7.66% and 12.23% respectively over the same period. ... Fannie and Freddie's Future: What Will Barney Frank Do? Fannie Mae sells $4 bln bills at higher rates Mortgage bond spreads at record low |
National Bank Financial Group Adjusts its Mortgage Rates - MarketWatch (press release)
National Bank Financial Group Adjusts its Mortgage Rates MarketWatch (press release) The new rates are effective as of March 12, 2010. National Bank of Canada is an integrated group that provides comprehensive financial services to consumers ... |
Mortgage rates fall again to new low - Bankrate.com
 Reuters | Mortgage rates fall again to new low Bankrate.com The benchmark 30-year fixed-rate mortgage fell 4 basis points this week, to 5.08 percent, according to the Bankrate.com ... Talking Money: Now's the time to prepare for rising interest rates Potential homebuyers who wait may lose a lot Webb, Sanders Pressure Obama On Fed |