Mortgage Rates Drop in Spite of Fed

In January of 2014, everyone was interested in what the Federal Reserve System was going to announce in regard to mortgage interest rates.  The Fed meets eight times a year and the Federal Open Market Committee (FOMC) follows with a public statement.  The big topic was where mortgage interest rates were headed following the Fed's analysis.  Arizona Mortgage Lenders are interested in anything relative to the direction of mortgage rates.  The committee analyzes what the Fed says about overall … [Read more...]

Mortgage Rates Drop – Get Off the Fence

On Friday April 5th bad news was great news if you're a fan of record low Arizona mortgage rates. If  instead, the stock market is what you have on your radar, well turn off the news and check back in next week to see if things get better.  From January 24th of this year up through the last week of March mortgage interest rates were on a slow yet steady escalator gradually lifting them to higher levels. This first week of April 2013 put a staggering halt and dramatic reversal to the … [Read more...]

Mortgage Rates Roller Coaster Ride

Over the past month and a half we have seen some of the lowest mortgage rates in history! In fact, we have seen THE lowest mortgage rates in history. Interest rates however can move and change in the blink of an eye. Mortgage rates are tied to the financial markets and therefore no one is truly in "control" of where rates are. If you take a look at the image in this article you will see three distinct and very different trading patterns relative to mortgage rates. The chart shows the price … [Read more...]