Current Fannie Mae Mortgage Rates move lower - today's interest rates
Posted under: Financing in Chicago
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September 3, 2009 8:22 AM |
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Update 04/27/2012: Current mortgage rates 3.5% at all time lows. Compare current mortgage rates from competing lenders and banks at http://current-mortgage-rates.net
Update 04/10/2012: Mortgage rates drop again! The recent economic news on unemployment, jobs, china, and oil prices have caused mortgage rates and closing costs to drop again. Get the best current mortgage rates from banks, credit unions, mortgage lenders and mortgage brokers at www.current-mortgage-rates.net
Update 01/20/2012: current mortgage rates are STILL at all time lows for 30 year fixed, 20 year fixed, 10 year fixed, and arms on Fannie Mae mortgage rates. Compare current mortgage rates, lenders and banks, and fannie mae mortgage rates at http://current-mortgage-rates.net/compare-mortgage-rates/mortgage-rates/
Update 11/14/2011: mortgage rates are at all time lows for 30 year fixed, 20 year fixed, 10 year fixed, and arms on Fannie Mae mortgage rates. Compare mortgage lenders and fannie mae mortgage rates at http://current-mortgage-rates.net/compare-mortgage-rates/mortgage-rates/
Update 06/15/2011: mortgage rates remain stable. 30 year fixed rates mid 4's. Arm rates super low. High Balance rate still low.
Update 05/06/2011: mortgage rates decreasing. Oil drops $10/barrel. Treasury Bonds and Fannie Mae Mortgage Backed Securities Rally. Prices increase and yields decrease.
check current mortgage rates here
Update 12/16/2010: mortgage rates rising. economy appears to be improving with QE2.
check current mortgage rates here
Update 10/06/2010: reduced loan fees on 30 year fixed rates and 20 year fixed rates at 3.75% all time lows. Current 15 year fixed mortgage rates 3.25%
Today's current Fannie Mae mortgage and interest Rates:
UPDATE: 30 year fixed mortgage rates 4.25% 0 closing costs, lender paid escrows!
UPDATE 08/14/2010: 30 year fixed mortgage rates and refinance mortgage rates drop to an all time low 3.75%
Fannie Mae Rates are determined by pricing and yeilds on Fannie Mae Mortgage Backed Securities. Simply put these are bond issues backed by Fannie Mae Mortgages.
There are various Fannie Mae Mortgage Backed Security coupons being traded daily and they are 4.0 coupon, 4.5 coupon, 5.0 coupon, 5.5 coupon, and the 6.0 coupon. These investments are traded just like regular stocks and bonds on Wall Street. The buying and selling of these Mortgage Backed Securities will determine how secondary pricing deparments will determine current daily pricing which will determine available fannie mae mortgage interest rates.
When traders start buying up Fannie Mae Mortgage Backed Securities the price increases and the yeild decreases. This will typically spur the secondary pricing departments at various lenders accross the county to increase the pricing at a particular rate, or improve rates. The actions they take depends on the net price increases on the underlying Fannie Mae Mortgage Backed Securities at a particular coupon rate.
The opposite is also true when traders start selling off Fannie Mae Mortgage Backed Securites forcing secondary to decrease pricing on delivery of a particular Fannie Mae Mortgage Rate, or increase Fannie Mae Mortgage Rates. Again, their actions depend on the net price decreases on the underlying Fannie Mae Mortage Backed Securites at a particular coupon rate.
Current Pricing on the Fannie Mae Mortgage Backed Securities has been increasing as demand for 4.5 and 5.0 coupons have been increasing. This has pushed Fannie Mae Mortgage Rates down once again creating an excellent opportunity to capture near all time low mortgage rates.
Today's current Fannie Mae mortgage and interest Rates:
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Comments
The Feds have gone on record stating this program will end in March of this year, after debating whether to renew the program. Fannie Mae however has been given a "blank check" by the feds so that could have a bit of a balancing effect on the Federal Reserve's exit from the mbs market, but I think the majority of money will be spent shoring up losses that we all hear about in the news etc.
My feeling is we have been trending slightly higher, with gradual rate increases and decreases over the most recent year. When the Federal Reserve mortgage backed securities purchase program ends the mbs bond holders will sell bonds, rates will rise, and continue to rise - unless the Federal Reserve commits to another round of mbs purchasing. As the economy picks up steam end of 2010, unemployment decreases, and inflation increases - I believe rates will continue to rise at a more rapid pace.