Mortgage Information

Sept. 19, 2008

Pasadena Mortgage Rates Report: September 19, 2008

by Brian Brady

Hold off on that Pasadena mortgage rate lock. The government is here to help.

I initially thought this massive government purchase of defaulted mortgage proposal would lead to higher mortgage rates, but quickly reversed course. Here's me today, on Zillow Mortgage Blog:

This action is ...

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Sept. 17, 2008

Pasadena Mortgage Rates Report: September 17, 2008

By Brian Brady

Remember when I talked about the whipsaw effect, yesterday? Rates with no lender compensation to the broker, called "par" rates in the industry *, are 5.875% now. That's .375% higher than the 5.5% I reported yesterday.

Will Pasadena mortgage rates come back down?


Maybe. They ...

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Sept. 16, 2008

Pasadena Mortgage Rates Report: September 16, 2008

By Brian Brady

Had you taken my advice this weekend, and immediately locked your Pasadena mortgage rate, yesterday you would have lost out. The par rate for a 30-year fixed rate conforming loan was 5.625% yesterday- today that par rate is 5.5%. My advice would have cost you ...

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Sept. 13, 2008

Pasadena Mortgage Rates Report: September 12, 2008

by Brian Brady

The MBS market has improved dramatically since the new FHFA seized Fannie Mae and Freddie Mac. An implicit government backing of mortgage bonds became explicit with that single event. The rate difference, or spread as we call it, between gov?t bonds and mortgage bonds, has narrowed ...

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Aug. 29, 2008

Pasadena Mortgage Rates Report: August 29, 2008

by Brian Brady

Weird things are happening in the mortgage-backed securities market. Strong
buying, in the 30 year-fixed rate loans, has dropped rates .25% since my last
report, The ARM rates, however, have RISEN. A weird phenomenon, indeed. I'm
only quoting two loan programs (the others make no sense ...

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Aug. 16, 2008

Pasadena Mortgage Rates Report: August 15, 2008

Pasadena Mortgage rates were stable this week. ARM rates went up and the fixed rate mortgage rates are the same as they were Monday. I mentioned that traders felt "stuck in the middle" of conflicting data. Core inflation is risingbut oil prices are falling like a rock off a ...

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Aug. 11, 2008

Pasadena Mortgage Rates Report: August 11, 2008

Pasadena Mortgage rates for August 1, 2008. Loan amounts up to $417,000:

3/1 ARM 5.500%

5/1 ARM 5.750%

7/1 ARM 5.875%

10/1 ARM 6.250%

30 Yr Fixed 6.375%

All rates offered to the borrower with 1 point cost. Rate quotes ...

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Aug. 2, 2008

Pasadena Mortage Rates Report: August 1, 2008

Pasadena Real Estate Mortgage rates for August 1, 2008. Loan amounts up to $417,000:

3/1 ARM 5.500%

5/1 ARM 5.625%

7/1 ARM 6.125%

10/1 ARM 6.250%

30 Yr Fixed 6.250%

All rates offered to the borrower with 1 point cost ...

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July 26, 2008

Pasadena Mortage Rates Report: July 25, 2008

Pasadena Mortgage rates for July 25, 2008. Loan amounts up to $417,000:

3/1 ARM 5.625%

5/1 ARM 5.750%

7/1 ARM 6.125%

10/1 ARM 6.375%

30 Yr Fixed 6.375%

All rates offered to the borrower with 1 point cost. Rate quotes ...

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July 23, 2008

Pasadena Mortage Rates Report: July 22, 2008

We may have seen the worst in the run up in mortgage rates

Pasadena Mortgage rates for July 22, 2008. Loan amounts up to $417,000:

3/1 ARM 5.750%

5/1 ARM 5.875%

7/1 ARM 6.250%

10/1 ARM 6.500%

30 Yr Fixed 6 ...

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