Mortgage Rate Outlook Sep. 3, 2010 -- The economic news has certainly been nothing to cheer about over the last month or two, but at least some important indicators don't suggest that any double-dip recession is imminent. HSH's overall mortgage monitor -- our weekly Fixed-Rate Mortgage Indicator (FRMI) -- dipped back by another two basis points, closing our survey at an average 4.76%, a new low. The FRMI includes rates for conforming, jumbo, and most recently the GSE's "high-limit" conforming products and so covers much of the mortgage-borrowing public. For borrowers who don't need a long-term, fixed rate mortgages, a viable choice might be a Hybrid 5/1 ARM, which ended the week at an unchanged average rate of 3.73%. The Federal Reserve released the minutes of its August 10 meeting, and...
Comments
1