Residential Mortgage Rate Trends - Washington
This chart compares rates on 30 Year Fixed Rate Mortgages and 15 Year Fixed Rate Mortgages for March, April, and May 2008.
Residential Mortgage Rate Trends - Washington (Prior 3 Months)
This chart compares rates on 30 Year Fixed Rate Mortgages and 15 Year Fixed Rate Mortgages from From February 15, 2008 to May 15, 2008.
I’ve been pretty inconsistent on posting this information. Moving forward I’ll post these trends monthly (I hope).
Mortgage Rate Trends - Washington
The last time I posted rate trends, they were at the lowest point in 2008. Shortly after, the went way up. The good news is, they have fallen back some, mostly in the last week.
Mortgage Rates and the Fed
It has been an interesting 2008 as far as mortgage rates are concerned. Many of my clients keep asking if rates have gone down due to the recent rate cuts, but unfortunatley, mortgage rates seem to be creeping up. I found an interesting article the provides some good information as to why mortgage rates seem to be climbing, even after the feds sharp rate cuts several weeks ago. Read on:
Mortgage Rates are Still Falling.
I’ve been waiting for some interesting news regarding the mortgage market, but it is pretty much the same old stuff (sub-prime mess, bank losses, etc.).
The only thing I can think of worth writing about is the fact that rates have continued to drop in 2008. Most rates sheets I get from lenders show 30 year fixed rates well under 6.00% and 15 year fixed rates getting very close to 5.00%. If you were thinking about refinancing, now may be a good time.
