What moves refinance mortgage rates? NASDAQ
When the European economy was threatened by instability in Greece and other countries, investors worldwide turned to American bonds as safe investments; that helped lower U.S. interest rates.
Mark Greenberg of Wealth & Tax Planners in Walnut Creek, Calif., says, "Long term rates are set by the 'market' (traders, banks, etc., i.e. the participants' collective wisdom about where rates should be). Mortgage rates, he explains, tend to follow the rates on 1, 5 and 10-year Treasury notes.
"As demand pushes bond prices up, they cost more, so they yield less (investors pay more for the same dividend amount). The converse is also true."
The Fed
Reading the financial news, it's easy to think that if your mortgage rate went up, it's because the Fed "raised" interest rates. That's simply not the way it works.
Savings institutions are required to maintain a certain level of deposits, called reserves, with the Federal Reserve Bank, to make sure that there is money to pay depositors when they want it. The Fed supervises overnight loans of these reserves from one bank to another to cover fluctuating needs for cash.
Obama Expands Mortgage Refi Plan
The Obama administration is working with the Federal Housing Finance Agency to broaden opportunities for homeowners who are locked into unfavorable mortgage rates or are ‘underwater’ on their loans (owe more than the home is worth). The expansion of the Home Affordable Refinance Program...
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Amid turmoil, think long-term - Boston Globe Amid turmoil, think long-term Is this a point where you redo your mortgage? Clearly, you want to redo your mortgage. If you can refinance now, rates are down to about 5 percent. |
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Interim Budget speech 2009 - Sify Interim Budget speech 2009 To ensure that such projects do not face financing difficulties arising from the current downturn, we have taken a new initiative for providing refinance to |
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Avoiding a High Price On a No-Cost Loan - Washington Post Avoiding a High Price On a No-Cost Loan All other costs, including the mortgage broker's fee if there is one, are paid by the lender. Don't confuse no-cost with no-cash. No-cash means the |
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4 Ways to Land a Refinancing Deal With mortgage rates hovering near a 50-year low, the question for many homeowners isn’t whether they should refinance, but whether they can refinance. |
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Not everyone gets the same mortgage rate - Santa Cruz Sentinel Not everyone gets the same mortgage rate It is impossible to provide an accurate rate quote without knowing the specifics of all of these factors. Borrowers should be wary of mortgage originators |