Thursday 8AM 01/28/10 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.

Today, 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 later today for my next *free* mortgage rate update.

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.

Friday 5PM 12/4/09 Free Mortgage Rates Update

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

Thirty-year mortgage rates rose for the fourth day-in-a row on Friday because job losses last month were +one-tenth+ the number expected by Wall Street traders. Good news for the economy is often bad news for those seeking a lower mortgage rate.

The national-average thirty-year fixed-rate mortgage is now at four-point-five-percent with three points, up another three-eighths of a point from Thursday, for an extra cost of three-hundred seventy-five dollars on a one-hundred thousand dollar loan.

If you’d rather pay fewer points, the four-point-eight-seven-five percent rate is now at one and one-eighth points, up a quarter-of-a-point from Thursday.

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 fifteen-year fixed-rate mortgage was up a quarter-of-a-point, with the four-percent rate at two-and-five-eighths points. And the four-and-a-quarter percent rate was also up by a quarter point, to one-and-a-quarter points.

If you want to know instantly when rates are moving higher, while floating your loan, you have to follow the changes in the points. If you had subscribed to my real-time mortgage rate alert service (for less than a dollar-a-day) at the end of last month, you may have been able to avoid being caught “floating,” when you should have been “locking” your loan +before+ the Tuesday, Wednesday, Thursday and Friday rate hikes took effect.

The national unemployment rate fell last month to 10 percent from October’s 10.2 percent, when “no change” had been forecast. And the number of payroll jobs in November fell by only 11,000, a much smaller result than the expected loss of 125,000 positions.

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 Saturday for my next *free* mortgage rate update.