Mortgage Rates

Freddie Mac says mortgage rates fell to 3.94% this week. But, because closing costs increased at the same time, it would take a homeowner *3 years* to break-even on these new, "lower" rates. It's a sleight-of-hand trick pulled by the banks on the American people.

Conforming mortgage rates went sub-4% this week? Well, that's not 100% true. Lender sleight-of-hand is making rates *appear* lower. But payments are way down.

Mortgage rates have "slowed down" lately, making it easier for home buyers and rate shoppers to compare rates between banks.

Freddie Mac reports the 30-year fixed at 4.09% this week. Freddie Mac is wrong. Mortgage rates are lower.

In 2011 -- for the same monthly payment -- you can borrow 77% more than you could in 1991. Buying a home is a relative bargain right now.

The 2011 Refi Boom's Second Wave has started. 5-Year ARMs are leading the charge. Assuming discount points are paid, ARMs are now below 3 percent.

Mortgage rates continue to change at a frenetic pace. If you're not locking your rate, you're losing your rate.

Since the financial crisis of 2008, the average weekly 30-year fixed rate mortgage and the 10-year Treasury note moved in the same direction by the same amount once. Once.

There is only one thing that controls where mortgage rates go next -- and it's not the 10-year treasury note.

Mortgage rates are changing at a blistering pace. If you're not locking your rate, you're losing your rate.