January 19th, 2009

Mortgage Rates Mostly Unchanged



According to the latest issue of HSH’s Market Trends Newsletter, Mortgage Rates Mostly Unchanged, “Even with headlines touting mortgage rates at historically low levels, regular observers know that there was little change in mortgage rates this week. Conforming mortgage rates were said to have fallen below an average of 5%, at least according to Freddie Mac and the MBAA. Of course, that average has been hovering near the 5% mark in recent weeks, and whenever the average is near a “psychologically important” level it is always possible to break that level simply by paying more points or fees up front. Freddie’s average rate assumes that the borrower is paying 0.7 points; the MBAA report sported an interest rate which would see the borrower paying 1.2 points. The higher the points and fees charged, the lower the interest rate.”

“Our own daily and weekly figures didn’t break the 5% mark. We were close, though, and any borrower wishing to pony up more money up front could have easily obtained a rate below 5%.”

“For the week, all together, we had an average of 5.11% + 0.28 points all told… and a final weekly “zero points” average of 5.17%. If we gathered prices at Freddie’s 0.7-point level we certainly also would have been below 5% this week, and well below with the MBAA’s 1.2-point statistic. The differing methodology produces slightly different results, and regardless of any “psychological” effect, there is scant difference between the interest rates of the 5.01% Freddie reported last week and the 4.96% figure this week.”

Click here to continue reading “Mortgage Rates Mostly Unchanged.” HSH’s free weekly Market Trends Newsletter, an in-depth analysis of various financial markets of the week prior, is published every Monday. Email subscribers receive it in your inbox by Friday night, so sign up today! Also, be sure to check in with our Market Trends blog for all news relating to any weekly shift in mortgage rates.

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8 Responses to “Mortgage Rates Mostly Unchanged”

  1. Mortgage Rates Says: March 20th, 2009 at 7:58 am

    They should be down soon enough.

  2. Refinance Mortgage Says: March 30th, 2009 at 11:14 pm

    Although a loan does not start out as income to the borrower, it becomes income to the borrower if the borrower is discharged of indebtedness.

  3. sickofthis Says: April 15th, 2009 at 10:43 am

    Remember, People do not take advice from people that are in the mortgage, insurance, banking, or real estate business. They are all crooks who have over inflated everything in order to make money. The government is bailing them out and once we are out of this mess, they’ll go back to their same routine in order to make quick money. If someone tells you every time you see them, that now is the time to buy. Stay away from that person because they are a scammer. Aka, stock brokers, Real estate agents, appraisers, and mortgage lenders.

  4. Tim Manni Says: April 15th, 2009 at 12:35 pm


    I think you are unfairly grouping all those in the mortgage, banking, and real estate business as crooks. Sure there are unscrupulous people in those industries, but grouping them all together as “crooks” is inaccurate.

    I certainly hope you’re not referring to HSH in that same category based on our Market Trends newsletter (the basis behind the blog post).

    Just b/c someone tells you now is a good time to buy (and for some it is — low purchase prices, low mortgage rates) doesn’t make them dishonest.

  5. john beck Says: September 8th, 2009 at 11:48 pm

    Although a loan does not start out as income to the borrower, it becomes income to the borrower if the borrower is discharged of indebtedness.

  6. FHA STREAMLINE REFINANCE Says: January 16th, 2010 at 2:07 pm

    Hope in these year 2010 they should fall down as per market …

    That’s really appreciable post. keep sharing.

  7. CheckMyFees Says: March 4th, 2010 at 11:24 am

    Rates are at historic lows, and are a great deal for those who qualify. Borrowers looking for home loans should compare rates and fees at a few locations prior to signing loan docs to make sure they are getting a fair deal.

  8. Chery Collin Says: May 31st, 2011 at 5:51 am

    @John, I am with you really good article.

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About the HSH Blog's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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