Hurry!  Hurry ! Hurry!  If you want to refinance your mortgage into a loan with a sub-5% interest rate, your window of opportunity is closing fast.

Lenders are still advertising rock-bottom interest rates, but for most borrowers, rates are rapidly rising into the 5%-plus category.  We may not see below 5% again.

We saw 4.75% loans at the end of the year, but now the rates are significantly higher. If you want a low mortgage rate that is at least a point or two less than you currently are paying, you need to lock a loan NOW.  Otherwise, the cost of the refinance will wipe out any savings you would get.

March 31^st seems to be the deadline.  The Federal Reserve has been  purchasing loans since 2009.  The lenders could keep the rates low, because they new they could sell the loans to the FEDS.  However, this program will end on March 31,2010.   All the private investors in the marketplace will be buying these loans and they will want higher rates.   So as the FED reduces and winds down the purchases of mortgage backed loans as securities, the rates will start to climb.

For more information contact: Mary Lou Yoch, Frost Mortgage Lending, (949) 584-8865

Wednesday 5PM 01/27/10 Today’s Current Mortgage Rates Update News

I’m David Beadle. Here’s what’s happening from RateAlertNow.com.

Thirty-year mortgage rates reversed direction and header higher again on Wednesday, after the Federal Reserve said it truly “will” stop purchasing mortgage-backed securities at the end of March. The Fed has been purchasing about 80 percent of “all” the new fixed-rate mortgages coming to market, to keep “home loan rates” low. Many Wall Street traders believe the task of buying most of the loans will be given to Fannie Mae, Freddie Mac and the FHA, when the Spring buying season commences.

The national-average 30-year fixed-rate mortgage is now at four-and-seven-eighths percent with one and seven-eighths points, “up” a quarter of a point from Tuesday, for an extra cost of $250 on a one-hundred thousand dollar loan..

The five-and-one-eighth percent rate rose an eighth of a point to “half” of one point.

Remember: one point is worth “one percent” of the loan amount. This means “one point” is one-thousand dollars on a one-hundred- thousand dollar loan…and two-thousand dollars on a two-hundred thousand dollar loan.

When it comes to a two-point loan, that represents two percent of the loan amount. This means “two points” is two-thousand dollars on a one-hundred thousand dollar loan…and four-thousand dollars on a two-hundred thousand dollar loan.

The national-average 15-year fixed-rate mortgage was “UP” as well, with the four-and-a-quarter percent rate now at one-and-five-eighths points, up an eighth of a point from Tuesday. The four-and-a-half percent rate “rose” to a “quarter” of one point.

In order for you to know “when” to lock your “floating” fixed-rate
mortgage, you have to have “an Early Warning” system with immediate news on changes in current rates & points +before+ they occur throughout every business day. That’s where my “Rate Alert Now” service becomes essential to your “rate lock” strategy. I’ll tell you via regular e-mail and/or mobile “text messaging” when current rates are about to go up, and if you act quickly, you may be able to reach your local mortgage originator by phone to lock your rate +before+ the mortgage company becomes aware of what’s going on, and changes its rates. The cost of my service is less than one dollar a day.

New home sales fell 7.6 percent last month, to an “annualized” pace of only 342,000 units. This “was” down substantially, from an “upwardly” revised result, for the month of November.

On Thursday, we-will-see first-time claims for weekly state unemployment benefits. A “decline” to the 450,000 mark, is expected.

That’s what’s happening. I’m David Beadle. For full details on my real-time mortgage rate alert service to help you “beat the system,” visit RateAlertNow.com and check back here on Thursday morning for my next *free* mortgage rate update.

Wednesday 8AM 01/27/10 Today’s Current Mortgage Rates Update News

I’m David Beadle. Here’s what’s happening from RateAlertNow.com.

Thirty-year mortgage rates moved back “down” to Friday’s level, after concerns resurfaced about a potential slowdown in U.S. growth exacerbated by additional moves on Tuesday by China to cool down its surging economy. But there was also caution ahead of Wednesday’s Federal Reserve monetary policy decision, even though no change in rates is expected.

The national-average 30-year fixed-rate mortgage is now at four-and-seven-eighths percent with one and five-eighths points, down a quarter of a point from Monday, for a savings of $250 on a one-hundred thousand dollar loan..

The five-and-one-eighth percent rate fell an eighth of a point to three-eighths of one point.

Remember: one point is worth “one percent” of the loan amount. This means “one point” is one-thousand dollars on a one-hundred- thousand dollar loan…and two-thousand dollars on a two-hundred thousand dollar loan.

When it comes to a two-point loan, that represents two percent of the loan amount. This means “two points” is two-thousand dollars on a one-hundred thousand dollar loan…and four-thousand dollars on a two-hundred thousand dollar loan.

The national-average 15-year fixed-rate mortgage was “lower” as well, with the four-and-a-quarter percent rate now at one-and-A-half points, down an eighth of a point from Monday. The four-and-a-half percent rate fell to an eighth of one point.

In order for you to know “when” to lock your “floating” fixed-rate
mortgage, you have to have “an Early Warning” system with immediate news on changes in current rates & points +before+ they occur throughout every business day. That’s where my “Rate Alert Now” service becomes essential to your “rate lock” strategy. I’ll tell you via regular e-mail and/or mobile “text messaging” when current rates are about to go up, and if you act quickly, you may be able to reach your local mortgage originator by phone to lock your rate +before+ the mortgage company becomes aware of what’s going on, and changes its rates. The cost of my service is less than one dollar a day.

News from the consumer sector showed “confidence” was higher than expected this month, with a more than two-point increase.

Today, we-will-see the latest figures on New Home Sales. The estimate is that they rose “mildly” last month.

That’s what’s happening. I’m David Beadle. For full details on my real-time mortgage rate alert service to help you “beat the system,” visit RateAlertNow.com and check back here later today for my next *free* mortgage rate update.

Tuesday 5PM 01/26/10 Today’s Current Mortgage Rates Update News

I’m David Beadle. Here’s what’s happening from RateAlertNow.com.

Thirty-year mortgage rates moved back “down” to Friday’s level, after concerns resurfaced about a potential slowdown in U.S. growth exacerbated by additional moves on Tuesday by China to cool down its surging economy. But there was also caution ahead of Wednesday’s Federal Reserve monetary policy decision, even though no change in rates is expected.

The national-average 30-year fixed-rate mortgage is now at four-and-seven-eighths percent with one and five-eighths points, down a quarter of a point from Monday, for a savings of $250 on a one-hundred thousand dollar loan..

The five-and-one-eighth percent rate fell an eighth of a point to three-eighths of one point.

Remember: one point is worth “one percent” of the loan amount. This means “one point” is one-thousand dollars on a one-hundred- thousand dollar loan…and two-thousand dollars on a two-hundred thousand dollar loan.

When it comes to a two-point loan, that represents two percent of the loan amount. This means “two points” is two-thousand dollars on a one-hundred thousand dollar loan…and four-thousand dollars on a two-hundred thousand dollar loan.

The national-average 15-year fixed-rate mortgage was “lower” as well, with the four-and-a-quarter percent rate now at one-and-A-half points, down an eighth of a point from Monday. The four-and-a-half percent rate fell to an eighth of one point.

In order for you to know “when” to lock your “floating” fixed-rate
mortgage, you have to have “an Early Warning” system with immediate news on changes in current rates & points +before+ they occur throughout every business day. That’s where my “Rate Alert Now” service becomes essential to your “rate lock” strategy. I’ll tell you via regular e-mail and/or mobile “text messaging” when current rates are about to go up, and if you act quickly, you may be able to reach your local mortgage originator by phone to lock your rate +before+ the mortgage company becomes aware of what’s going on, and changes its rates. The cost of my service is less than one dollar a day.

News from the consumer sector showed “confidence” was higher than expected this month, with a more than two-point increase.

On Wednesday, we-will-see the latest figures on New Home Sales. The estimate is that they rose “mildly” last month.

That’s what’s happening. I’m David Beadle. For full details on my real-time mortgage rate alert service to help you “beat the system,” visit RateAlertNow.com and check back here on Wednesday morning for my next *free* mortgage rate update.