Fixed mortgage rates rise above record lows

I guess they figure since we didn't all jump on their most recent lowest rate in years that we might do so if they raise it? They can drop it down to zero but that's not going to change much.

Their lowering of the rate is a bit disingenuous because they know (full and well) that most of us cannot afford a mortgage or wouldn't qualify under the new guidelines. And then they have the nerve to feign surprise and say, "why aren't more consumers taking advantage of this unprecedented rate?"

There was a time when I believed that hard work and modest living would produce reasonable results. But I made the mistake of buying a house in 2006, which in retrospect, was a terrible decision. And after trying for five years to weather the economy, pay my house payment, keep the house, and search for a way to resolve my housing crisis, I accept that I cannot. I cannot refinance because I owe $100K more on the house than it is worth, I cannot sell because I owe more than the house is worth, I cannot get better terms from the bank, because the first mortgage is insured by FHA. They would rather foreclose than reduce the interest rate from 6.75%. Who do I blame? Myself, the bank, mortgage bankers, investors, Democrats, Republicans, Obama, Frank/Dodd, FHA.
The American Dream? Ha! It has become the American Nightmare for me!

Too bad mortage companies like Wells Fargo are actively denying home owners refinancing to boost their bottom line. Their fraud continues, only the methods have changed.

but if your house is "underwater" cuz the value has dropped,and you have a 2nd good luck on getting refinanced, it wont happen.

People still can't afford that is why they aren't buying. Doesn't matter how low the rates are when there is lack of jobs and so many unemployed.

For the most part, everyone that could have refinanced, already did, and with closing costs, add ons, PMI, and escrow requirements, it's really difficult to make a refinance worth while. As far as a home purchase, if you're not sure whether or not you will have a job next year, or an income reduction, or the value of the home eats up the initial down payment you had saved for the last five years, then it's unlikely consumers will purchase a home. That's assuming they would qualify for a home loan in the first place. Guidelines are absolutely outrageous anymore. I was in banking for a long time, and before you say it, NO, I DID NOT GIVE LOANS OUT THAT PUT PEOPLE IN THE STREETS, and before I got out of it two years ago, i literally HAD to turn down 50 to 100 applications a month, for people that I truly believed more than qualified for a home loan. It's like the pendulum swung from one way to the other. First, everyone qualified, which was wrong. Now, no one qualifies, which is still wrong. This business, and this country for that matter, needs to pull the reigns on being so extreme.

freddie mac??yeah,you have "fixed" rates alright.

Great time to buy a house, if you can get a loan. Credit markets are very tight.

Do not bite off more than you can chew, live within your means.

in 10 years things will change.

still waiting for it to drop further before I refinance, it will go lower believe it or not

Housing prices were so much higher then their real value. Just too many people underwater on their homes to take advantage of this now. Add in those who manage money well have already refinanced and yea well not many takers

They wont give you a loan even if the rate was 6%

as long as WE alow it to happen ......it will..........OUR goverment is NOT for US

Home Owners are losing money daily, cities are lowering assessments but raising rates

the banks need to bring it up, so that they can later bring it down to get house sales up.

The high end housing is hit hardest because the lack of interest income makes it impossible for wealthy people to sustain a high end house without depleating their money supply. The for sale signs are on nearly every other waterfront propertiy now. What was 5 mil is not even 2 mil. now! The other side of the recession never mentioned (since all the staff and services are no longer needed as well, ya know the trickle down facts!).

Low rates are good and all, but how many people are actually able to get the lowest rate? Not many. The people who really need them have bad credit because of the economy and can't get the lowest rate. The government needs to do things like this BEFORE there is a problem, not after.

It's bad enough now that Americans just might be opening their eyes ! It's time to dismiss the entire federal government ! For instance, the democrat party has controlled more than JUST the U.S. Congress for 70 of the last 78 years. What can not be legislated is regulated...shoved down our throats by any other description. "Professional " politicians have taken over the "education" of our children, taxed and spent like drunken theives, stomped all over the Constitution and now many are openly socialist.
Great Grandma is NOT ammuuuuused.

Yahoo is thinking of selling out to a Chinese company. If so, goodbye Yahoo!