Horizon Financial » Greenville SC mortgage rates http://www.horizonfinancial.org The Southeast's Leading Independent Mortgage Broker Fri, 03 Feb 2012 13:45:00 +0000 http://wordpress.org/?v=2.9.1 en hourly 1 Mortgage Rates This Week – February 14, 2011 http://www.horizonfinancial.org/2011/02/mortgage-rates-this-week-february-14-2011/ http://www.horizonfinancial.org/2011/02/mortgage-rates-this-week-february-14-2011/#comments Thu, 17 Feb 2011 19:06:41 +0000 admin http://www.horizonfinancial.org/?p=915 Mortgage rates worsened terribly last week. Amid more reports of an improving economy and fears of pending inflation, mortgage rates skyrocketed to their highest levels since April 2010.

According to Freddie Mac, mortgage rates made their largest 1-week jump in more than a year last week, tacking on 0.24% and bringing the average national 30-year fixed mortgage rate up to 5.05%. In some markets, rates are even higher. Since bottoming out in Freddie Mac’s November 11 survey, conforming, 30-year fixed mortgage rates are now higher by close to a full percentage point.

Home buyers in Greenville and across the nation have lost more than 10% of their purchasing power during that time. Rates have also been on a historic run higher, increasing over 9 consecutive days for the first time in almost a decade. That streak ended Friday with rates dropping slightly, and rate shoppers are hopeful the momentum lower continues into this week. It’s not likely. The week is loaded of housing data and housing has been trending better. More strong figures will bolster stock markets at the expense of bonds, driving mortgage rates higher for the 4th week in a row.

In addition, inflation-related figures will be released. That, too, can have a negative impact on mortgage rates. Monday : NAHB Homebuilder Confidence Survey Tuesday : Retail Sales, Consumer Confidence Wednesday : Building Permits, Housing Starts, Producer Price Index, FOMC Minutes Thursday : Consumer Price Index Markets should increase in volatility as the week progresses because of the looming 3-day weekend. Volume will be light Friday in advance of President’s Day.

If you haven’t yet locked your mortgage rate, the time to act is soon — possibly now. Mortgage rates are well off their historical lows, but still relatively inexpensive. Before long, that may no longer be the case.

]]> http://www.horizonfinancial.org/2011/02/mortgage-rates-this-week-february-14-2011/feed/ 0 Mortgage Rates are down in 2010… http://www.horizonfinancial.org/2010/01/mortgage-rates-are-down-in-2010/ http://www.horizonfinancial.org/2010/01/mortgage-rates-are-down-in-2010/#comments Tue, 26 Jan 2010 16:24:11 +0000 admin http://www.horizonfinancial.org/?p=674
We are all happy rates are down in 2010!
      Mortgage rates are down in 2010, which is good news for home buyers and people looking to refinance their homes here in the Carolinas and throughout the Southeast.  While the home-buyer’s tax credit is still available for the next couple of months, this should make home buying at it’s most affordable.  You can get 4.75% with an APR = 4.99% on a 30 year fixed (with very reduced closing cost options at 4.875% to 5%, depending on credit and loan amount) and you can get a very low 4.25% on a 15 year fixed with an APR= 4.55% (with very reduced closing cost options at 4.375% to 4.5%, again depending on credit and loan amount).  Now is definitely the time to refinance or purchase.
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     Some people are sitting and waiting to buy because they are negotiating and are fighting a seller over a $5,000 to $10,000 difference on an offer.  While you wait, the rates could go up.  Do you know that on a $200,000. loan amount, the rate going up just a 1/4% is like the sales price going up over $6,000..  Rate is just as important as the purchase price when negotiating.  When rates are very low, as a buyer, you may want to be more willing to offer a little bit more for a home.  Keep that in mind when house shopping.  Now is a great time to talk to a mortgage professional about locking in a low rate.
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-Gary Schoenholz – Loan Officer Manager – 15 years experience – www.GaryTheMortgageExpert.com Phone – 864-979-1111 Call 9 AM to 9 PM Mon – Sat.
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