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Raleigh mortgage rates information for this week.

This week we have had a week to consider the barrage of data released during the last week of the month and the first days of August. The markets were volatile during this period with the Dow moving from record territory by mid-July to a 2.5% loss in one week and negative territory for the year as of August 1. Other markets moved as well during this period as oil moved down below $100 per barrel the same week and long-term interest rates were also volatile. Of course, this had effect on mortgage rates in Raleigh.

Previously we asked why mortgage rates in Raleigh are staying so low if it looks like the economy is rebounding. As a matter of fact, one of the reasons the stock market reacted so negatively to the good news regarding the economy is that there was a concern the Federal Reserve Board might raise rates more rapidly than expected. The Fed even noted in its recent announcement that inflation was moving closer to their target numbers. We note that this was just one reason for the negative reaction in the stock market. There were others. For example, there continues to be plenty of political and financial turmoil overseas. Plus, with the Dow and S&P reaching record territory again and again in the first half of the year, the markets could have been due for a correction.

Keep in mind that if the Fed does raise their benchmark mortgage rates that effect Raleigh, short-term rates will rise. But this is no guarantee that long-term rates will also rise. With international turmoil and plenty of negative economic news to balance the overall good reports we have seen, long-term rates are more likely to go up if the markets feel that the Fed is over-stimulating the economy. In other words, the Fed paring down the purchases of Treasuries and Mortgage Backed Securities and talking about raising rates can actually ease the concerns of the markets and keep long-term rates stable. At least for now. The Fed and the markets will be watching the real estate markets closely from here because this is the one area which has been weak and the economy is not likely to overheat while real estate sales continue to be sluggish.

The Mortgage rates markets
•Fixed mortgage rates in Raleigh rose very slightly in the past week, but stayed in the same range they have been for almost two months now.
•Freddie Mac announced that for the week ending August 7, 30-year fixed mortgage rate rose slightly to 4.14% from 4.12% the week before.
•The average for a 15-year home loan in Raleigh ticked up to 3.27%.
•Adjustable mortgage rates were also stable in the past week, but fell slightly with the average for one-year adjustables easing to 2.35% and five-year adjustables decreasing marginally to 2.98%.
•A year ago 30-year fixed mortgage rates in Raleigh were at 4.40%.
•Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac –“Rates on home loans were little changed amid a week of light economic reports. Of the few releases, the ISM non-manufacturing index rose to 58.7 in July from 56.0 a month earlier. Also, factory orders were up 1.1% in June. The two reports signal steady economic growth in the third quarter of the year.”

Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes. Mortgage Raleigh NC.

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Edyta Rhodes has written 25 articles on Service 1st Mortgage

I am an experienced mortgage broker, Raleigh-based with access to top national lenders. I have over 10 years experience, so I know how to design your mortage loan to fit your overall financial picture. I guarantee to find the best mortgage rate for you. You can find out more about me on Google+ Or you can email me at

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