I'm David Beadle. Here's what's happening from RateAlertNow.com.
Thirty-year mortgage rates rose again on Tuesday, because an auction of 40 billion dollars in U.S. 3-Year Treasury IOUs, was thrown into “confusion” by uncertainty about the situation involving Greek government bonds. At first, the Germans said a deal had been reached to resolve the Greek crisis, but the announcement was later withdrawn. Higher American stock prices also put “upward” pressure on our interest rates.
The national-average 30-year fixed-rate mortgage is now at four-and-seven-eighths percent with one and-A-half points, up an eighth of a point from Monday, for an extra cost of $125 on a one-hundred thousand dollar loan.
The “five” percent rate held steady at three-quarters of one point.
Remember: one point is worth “one percent” of the loan amount. This means “one point” is one-thousand dollars on a one-hundred- thousand dollar loan…and two-thousand dollars on a two-hundred thousand dollar loan.
When it comes to a two-point loan, that represents two percent of the loan amount. This means “two points” is two-thousand dollars on a one-hundred thousand dollar loan…and four-thousand dollars on a two-hundred thousand dollar loan.
The national-average 15-year fixed-rate mortgage also rose, with the four-and-a-quarter percent rate up an eighth of a point to one-and-three-eighths points. The four-and-three-eighths percent rate is now at three-quarters of one point.
In order for you to know “when” to lock your “floating” fixed-rate
mortgage, you have to have “an Early Warning” system with immediate news on changes in current rates & points +before+ they occur throughout every business day. That’s where my “Rate Alert Now" service becomes essential to your “rate lock” strategy. I’ll tell you via regular e-mail and/or mobile "text messaging" when current rates are about to go up, and if you act quickly, you may be able to reach your local mortgage originator by phone to lock your rate +before+ the mortgage company becomes aware of what’s going on, and changes its rates. The cost of my service is less than one dollar a day.
December wholesale inventories fell a sharp 0.8 percent, when analysts had expected a mild “increase.”
On Wednesday, we “will” receive the December “trade deficit” results, with a one-billion dollar decline expected, thanks to what “had been” a weaker U.S. dollar, toward the end of last year. A “falling” dollar makes our exports “less expensive” for overseas buyers.
That's what's happening. I'm David Beadle. For full details on my real-time mortgage rate alert service to help you "beat the system," visit RateAlertNow.com and check back here on Wednesday morning, for my next *free* mortgage rate update.
