Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Defying Fed hike, 30-year mortgage rate slips to 3.96 pct.
Associated Press ^ | December 24, 2015 | Paul Wiseman

Posted on 12/24/2015 7:42:44 AM PST by John W

WASHINGTON (AP) -- What Fed rate hike?

One week after the Federal Reserve raised short-term interest rates from record lows, the average on a 30-year fixed-rate mortgage went the other way: It dipped to 3.96 percent from 3.97 percent last week, mortgage giant Freddie Mac says.

The drop is a reminder that the Fed has only an indirect influence on long-term mortgage rates, which more closely track the yield on the 10-year U.S. Treasury note. And that rate, in turn, tends to stay down as long as inflation remains low and investors keep buying Treasurys. The 10-year Treasury yield has declined slightly since the Fed's hike last week

(Excerpt) Read more at hosted.ap.org ...


TOPICS: Business/Economy; Government
KEYWORDS: fedhike; fedrate; mortgagerate; mortgages

1 posted on 12/24/2015 7:42:44 AM PST by John W
[ Post Reply | Private Reply | View Replies]

To: John W

Wowse! Time to refinance. (again.)


2 posted on 12/24/2015 7:48:50 AM PST by fwdude
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

Sheesh!


3 posted on 12/24/2015 7:53:50 AM PST by Thorliveshere
[ Post Reply | Private Reply | To 1 | View Replies]

To: John W

A good chunk of monetary policy is like trying to push a string. You can make the string available, but market forces will decide whether it makes sense to pick up the string.


4 posted on 12/24/2015 7:59:42 AM PST by econjack (I'm not bossy...I just know what you should be doing.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: fwdude
It would, except it wouldn't improve on the 2.75% which I already have.

I have a daughter and son-in-law with two professional incomes who STILL refuse to buy because they expect prices to go even lower.

5 posted on 12/24/2015 7:59:48 AM PST by Vigilanteman (ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Vigilanteman

2.75%?!! Is that for a 15-year or an adjustable rate?


6 posted on 12/24/2015 8:13:15 AM PST by fwdude
[ Post Reply | Private Reply | To 5 | View Replies]

To: Vigilanteman

Well you might has professional kids but doesn’t mean they know anything about real estate.
Nationwide values will go up 3.4% next year and 3.1% for each of the next 4 years. Unless they live in a bad area like Chicago, New Jersey, Connecticut where values are going down and ask yourself why they are wrong. So much for education and no common sense.


7 posted on 12/24/2015 8:22:39 AM PST by Kozy
[ Post Reply | Private Reply | To 5 | View Replies]

To: Vigilanteman

Just refinanced yesterday at 2.625%. Happy days are here again


8 posted on 12/24/2015 8:23:30 AM PST by Kozy
[ Post Reply | Private Reply | To 5 | View Replies]

To: Kozy

adjustable? 15 yr fixed?


9 posted on 12/24/2015 8:30:10 AM PST by is_is (VP Dad of Sgt. G - My Hero - "Sleep Well America......Your Marines have your Back")
[ Post Reply | Private Reply | To 8 | View Replies]

To: is_is

5/1/30.
My old 5/1 ARM was readjusting in April so I found a deal, reduced my monthly payments by $335.00.
Oh I am 70 so I might not make 75. This mortgage allows me time to make a last move, die, move in with the kids or join the peace corp.


10 posted on 12/24/2015 8:45:19 AM PST by Kozy
[ Post Reply | Private Reply | To 9 | View Replies]

To: Vigilanteman

There are good reasons to refuse to buy, but that isn’t one of them.


11 posted on 12/24/2015 9:03:14 AM PST by Alberta's Child ("It doesn't work for me. I gotta have more cowbell!")
[ Post Reply | Private Reply | To 5 | View Replies]

To: John W

hmmm


12 posted on 12/24/2015 9:04:29 AM PST by CPT Clay (Hillary: Julius and Ethal Rosenberg were electrocuted for selling classified info.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Alberta's Child

I unfortunately live near Los Angeles and work about 40 miles north of downtown. Prices are too high for a decent house. The 4% is great but at $500,000 it is $2,000 or so a month plus taxes and utilities etc.

I go to zillow and look over home prices in my home state of Minnesota and see really nice homes for under $200,000 with a lake view. If I could do my job there I would move back... with a sunlamp for the winters.


13 posted on 12/24/2015 9:44:41 AM PST by minnesota_bound
[ Post Reply | Private Reply | To 11 | View Replies]

To: fwdude

15 year. I was 10 years into a 30 year and it actually lowered the monthly payment as well as the maturity date.


14 posted on 12/24/2015 2:43:17 PM PST by Vigilanteman (ObaMao: Fake America, Fake Messiah, Fake Black man. How many fakes can you fit into one Zer0?)
[ Post Reply | Private Reply | To 6 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson