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Best Syndication - Credit and Loans





 



Mortgage Rates Trending Higher in 2014

Wed, 01 Jan 2014 05:23:50 +0000

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(Best Syndication News) Interest rates have been trending higher over the last year; according to data collected by Best Syndication (see the charts below). On December 31st 2012, the average national interest rate was 3.428 percent. Today, the average overall rate is 4.375 percent.

Rates across the board were higher. The average FHA, VA, and Adjustable Rate Mortgage (ARM) rates were all higher. Although mortgage interest rates dropped slightly Monday, the weekly trend was higher. Stocks were also higher over the last year as the Federal Reserve continued their easing practices.

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Mortgage Interest Rates Rise as Uncertainty Sweeps Washington

Wed, 16 Oct 2013 08:13:59 +0000

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(Best Syndication News) Mortgage interest rates increased four of the last five days as the debt ceiling deadline loomed (see the mortgage rate charts below). Wrangling over the government shutdown and the debt ceiling pushed bond and note prices lower driving yields higher. The higher yields have had their effect on the current mortgage interest rates.

The U.S. Department of Treasury said that the yield on the 10-year note, the most common benchmark used by bankers to help calculate the interest on the 30-year fixed rate mortgage (FRM), increase five basis points (bps) on Tuesday. The Federal National Mortgage Association (OTCBB:FNMA) also increased their required net yield (RNY) rates five bps (see the benchmark chart below).

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Mortgage Rates Fall Again as Spooked Investors Flee Stock Market

Sat, 28 Sep 2013 07:26:02 +0000

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(Best Syndication News) Mortgage rates continued to drop this week after a 30-day downward trend (see the mortgage rate charts below). The lower rates are a reflection of the shift in money from equities to the safe havens.

The average 30-year fixed rate mortgage rate fell one basis point on Friday and is down 10 basis points (bps) on the week. Although mortgage rates are dropping right now, the 100-day trend has been higher (see the mortgage rate chart below). The average VA and FHA loan rates are lower, as are the average adjustable rate mortgages (ARMS) and Jumbo loans.

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Mortgage Rates Dropping Again This Week – Home Buyers Taking Advantage

Tue, 24 Sep 2013 09:00:18 +0000

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(Best Syndication News) Mortgage interest rates decreased again last week as application volume continued to rise (see the mortgage rate charts below). The low rate has prompted an increase in refinancing and home buying.

Last week the national average rate dropped 13 basis points (bps), but on Monday that conventional mortgage rate dropped another three bps to 4.207 percent. The average FHA rate slipped 15 bps while the average VA loan rate dropped 13 bps. This followed a 50+ point upward trend over the last 100 days.

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Mortgage Rates Edge Higher on Improved Economic Conditions

Fri, 06 Sep 2013 07:25:23 +0000

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(Best Syndication News) Mortgage interest rates continued to increase on expectations that the Federal Reserve will slow their stimulus programs. The same pressure has put downward pressure on the Dow Jones Industrial Average (INDEXDJX:.DJI) since the August 2nd high of 15,658.

Freddie Mac said the average 30-year fixed rate mortgage jumped 0.7 basis points (bps) this week. Their Primary Mortgage Market Survey® (PMMS®) indicated that rates have been trending higher since April (see the graph). The current 30-year fixed-rate mortgage (FRM) averaged 4.57 percent.

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Mortgage Rates Trending Lower Again after a Monthly Upswing

Wed, 28 Aug 2013 06:16:06 +0000

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(Best Syndication News) Mortgage interest rates dropped three days in a row after a long-term upward trend (see the mortgage rate and benchmark charts below). Shaky investor confidence as the Federal Reserve considers tapering down their easing programs has pushed up the price of government securities driving yields lower.

The average 30-year conventional rate fell two basis points (bps) on Tuesday (see the mortgage rate chart below). Over the last 5-day period the average rate has fallen 10 bps; however the 30-day and 100-day trends were higher.

Wells Fargo & Co (NYSE:WFC) held their conventional rates unchanged, but did lower their 30-year fixed rate mortgage 13 basis points in certain areas.

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Mortgage Rates Continue to Rise After Week of Declines

Wed, 14 Aug 2013 06:37:28 +0000

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(Best Syndication News) Mortgage rates jumped again today after a drop last week in conventional lending rates (see the mortgage rate charts below). Some of the benchmarks rose after a lift in stocks and gold.

The average 30-year fixed conventional rate mortgage jumped six basis points (bps) to 4.278 percent (see the mortgage rate table below). Wells Fargo & Co (NYSE:WFC) raised their rate to 4.67 percent and their 30-year Fixed FHA rate 14 bps to 5.57 percent. Citigroup Inc (NYSE:C) raised their conventional rate 12 bps to 4.68 percent.

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Mortgage Rates Trend Lower After 30-Day Upswing

Sat, 10 Aug 2013 08:07:38 +0000

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(Best Syndication News) Mortgage rates trended lower this week as the benchmarks used by banks shifted in the negative direction (see the mortgage rate charts below). The shift is counter to a 100-day upward movement by the major lenders.

The average 30-year fixed rate mortgage fell 11 basis points (bps) last week, however over the last 100-days the rate is still 59 basis points (bps) higher (see the mortgage rate charts below).

Fannie Mae, the Federal National Mortgage Association (OTCBB:FNMA), lowered their RNY rate three bps on Friday. The secondary lender’s 100-day trend is still much higher (see the benchmark chart below).

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What Will Replace Fannie Mae and Freddie Mac?

Wed, 07 Aug 2013 10:15:31 +0000

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(Best Syndication News) The President proposed doing away with the two-big government sponsored enterprises (GSE), replacing them with private capital and an increased role for government.

Part of the government role will be to provide “incentives” for financial institutions to provide “high quality loans and products.” The role of the Federal Housing Administration (FHA) will also continue. FHA will guarantee continue to guarantee qualified bank loans. The administration also expects to strengthen the lending market with legislative proposals.

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Current Mortgage Rates – VA and FHA Loan Rates Increase

Tue, 06 Aug 2013 08:39:30 +0000

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(Best Syndication News) Conventional mortgage rates slumped today after Freddie Mac made drastic changes in their required net yield (RNY) rates (see the mortgage rate charts below). The London InterBank Offered Rate (LIBOR) dropped while the 10-year note yield jumped four basis points (bps).

Although the average mortgage rate fell this week, the monthly and 100-day trend has been much higher. Higher home prices and a faster pace in home sales is producing a seller’s market in the United States. This could change if interest rates continue to rise – however the Federal Reserve has not signaled any changed in their targets.

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Current Mortgage Rates Today – Wells Fargo and Bank of America Make Changes

Wed, 31 Jul 2013 07:44:28 +0000

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(Best Syndication News) Mortgage rates edged higher today as lenders continue to adjust their products to the changing secondary lending market (see charts below). stocks were mixed as the Dow Jones Industrial Average (DJIA) moved lower and the S&P 500 and NASDAQ gained ground.

The average 30-year fixed rate mortgage (FRM) jumped 11 basis points (bps) in one day. The average 30-year rate is now 4.264 percent (see the chart below). The most common mortgage product has climbed 60 bps over the last 100 days.

Freddie Mac (FHLMC) has not updated their 30-year required net yield rate (RNY) for over one week, but this secondary lending factor has been steadily increasing as well. Fannie Mae (FNMA) raised their 30-year 60-year RNY rate one basis point on Tuesday.

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Mortgage rates were higher today as the benchmarks provide mixed results

Sun, 10 Feb 2013 19:29:58 +0000

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(Best Syndication News) Mortgage interest rates jumped four basis points (bps) on Friday as money flowed back into equities (see the mortgage rate charts below). A set of worse-than-expected economic indicators put pressure on stocks throughout the week.

Benchmarks

The Dow Jones Industrial Average (DJIA) advanced 48 points (+0.35%) on Friday but was down 12.02 percent on the week. On Monday the Department of Commerce said that Factory orders increased just 1.8 percent in December. Economists were expecting a three percent increase.

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Current Mortgage Rates Today – Loan rates rise at SunTrust but fall at JPMorgan Chase

Thu, 17 Jan 2013 08:04:34 +0000

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(Best Syndication News) Mortgage interest rates began to rise after two-straight days of declines (see the mortgage rate charts below). Although some of the benchmarks were higher, the rise in secondary lending rates pushed loans up at U.S. Bank, SunTrust, KeyBank, and PNC; however, JPMorgan Chase lowered their rate.

Benchmarks

The Boeing Company (NYSE:BA) weighed on the Dow Jones Industrial Average today pushing the index down 23 points, however the wider market gained value. Because there are only 30 constituents in the Dow, a three percent pull-back in the value of BA had a major influence on the index.

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Current Mortgage Rates Today – HSBC and KeyBank among banks lowering loan rates

Wed, 16 Jan 2013 08:13:13 +0000

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(Best Syndication News) A drop in secondary yields pushed mortgage rates lower today after weak manufacturing numbers were released by the Federal Reserve (see the mortgage rate charts below). Nearly all of the major banks, including JPMorgan Chase, KeyBank, HSBC, and Bank of America, lowered their mortgage loan rates.

Benchmarks

Stock markets in the United States opened lower Tuesday after disappointing economic news put pressure on the major indexes. There was a pull-back on stock prices early in the morning but by the closing bell there was a reprieve.

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Current Mortgage Rates Today – Wells Fargo and Bank of America Lower Rates

Tue, 15 Jan 2013 08:47:35 +0000

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(Best Syndication News) Mortgage interest rates fell sharply following a trend in the secondary and capital markets (see the mortgage rate charts below). JPMorgan Chase and KeyBank raised some of their rates; however, Wells Fargo and Bank of America lowered them.

Benchmarks

Stocks were mixed but mostly lower today as investors fretted over the debt ceiling and a possible renegotiation on spending cuts next month. President Barack Obama told Congress that he will not negotiate on the debt ceiling and his Treasury Secretary, Timothy Geithner, said the government will likely run out of money in mid February.

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Young Adults pay off Credit Card Debt Slower than Older Adults

Tue, 15 Jan 2013 05:27:38 +0000

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(Best Syndication News) - Credit card debt balances are considerably higher for young adults than for the elderly, according to a new study. The researchers also found that the younger adults are taking more time to pay off their balances.

Lucia Dunn, co-author of the study and professor of economics at Ohio State University, suggested that if the trend for the young adults continues into retirement, there could be serious financial problems in the years to come. She continued to explain that if their projections are correct, many of these young adults who have credit card debt will die owing the lenders money.

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Current Mortgage Rates Today – Loan rates advance at most banks including JPMorgan Chase & PNC

Mon, 14 Jan 2013 08:37:33 +0000

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(Best Syndication News) Mortgage interest rates inched higher today despite a downturn in some of the benchmarks (see the mortgage rate charts below). JPMorgan Chase, Bank of America, and PNC raised their rates while Citibank lowered them.

Benchmarks

Stocks continued to move higher as investors continued their reluctant migration back into equities later in the session Friday. The three major indexes were below par early on but the blue-chips broke into positive territory by the closing bell.

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Current Mortgage Rates Today – Citibank and Bank of America raise their loan rates

Fri, 11 Jan 2013 08:02:45 +0000

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(Best Syndication News) Advancing benchmarks continued to push interest rates higher today despite a drop in the secondary lending market (see the mortgage rate charts below). SunTrust bucked the trend and lowered their mortgage loan rates; however JPMorgan Chase, Bank of America, and Citigroup raised their mortgage products.

Benchmarks

Stock prices were higher for the second-straight day as U.S. President Barack Obama nominated Jacob Lew. The optimism was sustained after last week’s agreement on taxes and a positive earnings report registered by Alcoa Inc. (NYSE:AA) on Tuesday. Lew will be the point-man in President Obama’s debt-ceiling negotiations with Republicans in Congress.

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Current Mortgage Rates Today – JPMorgan Chase and U.S. Bank among the lenders lowering rates

Thu, 10 Jan 2013 09:02:24 +0000

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(Best Syndication News) Mortgage interest rates inched higher today as pressure on stock prices eased (see the mortgage rate charts below). SunTrust and KeyBank raised their conventional loan rates while U.S. Bank and Chase lowered them.

Benchmarks

Markets opened higher and remained just slightly above par throughout most of the session. It was the first positive day all week. Investors were happy to see Alcoa Inc. (NYSE:AA) post better-than-expected quarterly results early in the earnings season.

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Current Mortgage Rates Today – SunTrust, KeyBank, and other lenders lower rates

Wed, 09 Jan 2013 08:02:42 +0000

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(Best Syndication News) Mortgage interest rates shifted lower again as capital markets swung back into the safe-havens (see the mortgage rate charts below). Bank of America raised their rates while most other lenders lowered them.

Benchmarks

A better-than-expected earnings report from Alcoa Inc. (NYSE:AA) wasn’t enough to pull the Dow Jones Industrial Average (DJIA) higher Tuesday. The company also sees a fruitful 2013 if investors don’t focus on negative factors like the debt ceiling. The price of raw materials, including aluminum, can be affected by consumer confidence.

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