Market Insight, Market Overview, Mortgage Rates

The Week Ahead for Mortgage Rates: April 16, 2012

April 16, 2012 by · 2 Comments 

Retail SalesMortgage markets improved last week as a global flight-to-quality continued. With Spain facing questions on its sovereign debt, investors continued to pare exposure to risky assets, sparking demand for the relative safety of U.S. government-backed mortgage-backed bonds.

As a result, conforming and FHA mortgage rates slipped for the third straight week last week. 

According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage available to borrowers in Indiana is down to 3.88% nationwide with an accompanying 0.7 discount points plus “typical” closing costs.

Click here to see today’s mortgage rates.

Last week’s reported 3.88 percent rate for the 30-year fixed rate mortgage is within one-tenth of one percent of the lowest, average mortgage rates in Freddie Mac survey history. However, the last time conforming rates were reported in this range, the accompanying, required discount points were higher than last week’s 0.7.

Meanwhile, at 3.11% nationwide with 0.7 discount points plus closing costs, the 15-year fixed rate mortgage rate is equally low. It also set a record last week.

It’s a good time to be looking for a mortgage in Crown Point. Rates and fees are great.

Click here to see today’s mortgage rates.

Last week, markets moved on momentum. This week, they’ll move on data. The economic calendar is busy.

  • Monday: Retail Sales; Housing Market Index
  • Tuesday: Housing Starts
  • Thursday: Weekly Jobless Claims; Leading Indicators; Existing Home Sales

In addition, two Federal Reserve members will offer prepared remarks today. They will be the last public Fed comments before next week’s 2-day FOMC meeting.

This is The Week Ahead for Mortgage Rates: April 16, 2012.

Click here to see today’s mortgage rates.

Quick general rule of thumb when keeping an eye on mortgage rates.

Strong Economic News: $$$ from Bonds —> Stocks = Home Loan Rates Go Up

Weak Economic News: $$$ from Stocks —> Bonds = Home Loan Rates Go Down

If you or someone you know is thinking about buying a home, the combination of low home loan rates and affordable home prices make this an ideal time to buy a home. Want to know if you can afford a new home? Call or text me at 512-522-7284 to discuss your personal situation and your home loan options!

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James K Barath, CMPS®

James K Barath is a Certified Mortgage Planning Specialist®, Certified FICO® Professional, Certified Military Housing Specialist® and your FHA Home Loan Expert. He is also a graduate of Purdue University, The CMPS Institute, Dale Carnegie Human Relations Course & Napoleon Hill Foundation's PMA Science of Success Class. It's your home and your future. It's his profession and his passion. He is ready to work for your best interest. Contact James for your FREE Home Loan Approval !  His Motto: I Facilitate the American Dream Through Responsible Mortgage Lending and Financial Literacy!

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2 Responses to “The Week Ahead for Mortgage Rates: April 16, 2012”
  1. Didn’t the reports just a couple of days later show something like a decrease of around 8 or 10 basis points? I’m worried about the turbulence of the market now – are you in agreement with so many others that people should be buying up homes like madmen right now? I fear we’re all walking into another housing bubble.


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