Bank Mortgage Rates
Current Mortgage Rates v. “Average”
On February 25, 2011
“Average” mortgage rates might be the worst calculation that I’ll ever post on this blog.
The average mortgage rate over the past 6 years has been 5.7%. It is not a good interest rate prediction. It [...]
30 Year v. 5/1 ARM–Not even close
On February 16, 2011
The most recent Freddie Mac surveys combine to reveal some fairly interesting results.
For Freddie’s data, some overwhelming numbers:
95% of borrowers were choosing fixed rates Of borrowers refinancing a 30 year, 32% chose a 15 or 20 year Of borrowers refinancing a 20 year, 70% chose a 15 year
This is one of those [...]