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May 18th, 2009

“Home Mortgage Rates Remain Low”

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According to the latest issue of HSH’s Market Trends Newsletter, fortunately for potential homebuyers, the narrow range in which mortgage rates have remained in for some time has been historically low.

“The national average 30-year fixed rate mortgage, as measured by HSH’s Fixed-Rate Mortgage Indicator (FRMI), fell to 5.43%, a five-basis-point drop that reflects the meanderings of the economy in general. The FRMI averages the prices of conforming, jumbo and expanded conforming products. The FRMI’s 5/1 Hybrid companion averaged 5.06% this week, just a few basis points above the conforming 30-year FRM.”

“As noted last week, some market observers declare that they’re seeing some signs of economic recovery. At least some of the economic data out this week seems to confirm that glimpse.”

“As for mortgage rates, there’s really not much in the offing to push them one way or another. FRMs have been stuck in a pretty narrow range since March, but, as we like to remind our readers, that range offers some pretty affordable deals.”

“Next week we’ll see the all-important housing starts number, a look at the minutes from the Federal Open Market Committee’s April meeting, and some other indicators of interest.”

“What might happen to markets and rates over the next couple of months? Read our latest two-month forecast to find out.”

Click here to continue reading “Home Mortgage Rates Remain Low.” 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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3 Responses to ““Home Mortgage Rates Remain Low””

  1. Taos Real Estate Mortgage Report from TLT | Taos Real Estate Says: May 19th, 2009 at 3:17 pm

    [...] “Home Mortgage Rates Remain Low” (hsh.com) [...]

  2. frustrated Says: June 1st, 2009 at 6:42 pm

    FYI!

    Rates have gone through the roof.

    Your blog and prediction of low rates has cost me thousands of dollars

  3. Tim Manni Says: June 2nd, 2009 at 10:03 am

    Frustrated,

    Our “prediction of low rates” was actually higher than what rates actually came to be. In our two-month forecast, dated March 6, 2009, we predicted “For the next nine weeks, we think the overall cost of mortgage money as gauged by HSH’s FRMI should trend between 5.55% and 6%…”

    Mortgage rates can vary on a daily basis. U.S. News & World Report has published some of our numbers in an article yesterday. 30-year fixed rates were at 5.44% on 5/28 and have dropped back to 5.36% yesterday.

    There’s no need to provide us with an FYI — we publish and track mortgage rates nationwide on a daily basis. We know rates have risen and they will likely rise some more today. We do not urge our readers to take any action based on the free information we publish, we merely tell our readers what’s available and how they can benefit from it.

    We’re sorry to hear about your financial loss.

    Thanks,
    Tim

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About the HSH Blog

HSH.com'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 HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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