I was curious so I plotted how the 30 year fixed mortgage rate has been doing over the past year. I thought I’d share it with you:

Data is from the Freddie Mac weekly primary mortgage market survey.
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Details of President Obama’s plan to help struggling homeowners was announced today. This plan was announced a few weeks ago as the Making Home Affordable initiative. From the details which were announced today this plan helps two types of homeowners  and applies only to primary homes. This means you can not expect any help on [...]

Home mortgage rates are trending downwards and presenting homeowners with an opportunity. Freddie Mac says rates are at their lowest levels since 2004 (from MarketWatch):
SAN FRANCISCO (MarketWatch) — Freddie Mac said Thursday that the 30-year fixed-rate mortgage average dropped from a week ago to a four-and-a-half year low as bond yields declined. The 30-year fixed-rate [...]

With the US Treasury purchasing $600 billion in mortgage backed securities mortgage rates are falling. There is also a plan being floated where the government would set the 30 year mortgage rate at 4.50% on home purchases – almost 1% below current market rates.  The idea being of course that the whole thing started with [...]

A foreclosure break for the holidays. Freddie is announcing a suspension to all foreclosure activity from the day before Thanksgiving to January 9, 2009. Here is what Freddie has on its website:
McLean, VA – Freddie Mac (NYSE: FRE) today announced it has ordered its national network of mortgage servicers and foreclosure attorneys to suspend all [...]

Over the past month or so Fannie Mae and Freddie Mac have made a few announcements regarding maximum loan levels. For some odd reason I didn’t post these changes as they were announced. Perhaps I was distracted by other things going on. So, I want to share with you some of the major changes which [...]

Not all mortgage interest rates are the same. The radio may blast away advertisements claiming low low low rates in the low 5.00% range, but alas how misleading these messages are. The truth of the matter is that while the 30 year mortgage rate remains at historic lows not everyone gets the same interest rate. [...]