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Associated Mortgage

Associated Mortgage Corporation - Tulsa, OK

Associated Mortgage Corporation 918-491-9900 www.yellowbook.com

Mortgage rates hold steady as housing market stresses mount ...

  Note, although with a slight delay.

Investors have snatched up bonds as concerns about the Chinese economy and geopolitics have prompted a stock sell-off. Bond yields fall as prices rise, and vice versa.

Meanwhile, a sense of stagnation keeps creeping into the many corners of the housing market. Fewer people expect they’ll be able to become homeowners in the coming months, according to a National Association of Home Builders survey. Americans are staying in their homes for the longest stretches ever, an analysis out last month found.

Also see: As the housing market stagnates, American homeowners are staying put for the longest stretches ever

And in a report out Wednesday , the Joint Center for Housing Studies at Harvard University examined the financial state of older Americans. The share of households aged 50-64 with less than $20,000 in wealth stood at 22% in 2017, a big jump from 15% in 2001.

“Another potentially troubling trend is that more older homeowners carry mortgage debt,” the Harvard researchers noted. In 2016, 41% of owners 65 and older owed money for their homes, more than double the 20% share from 1989. It’s true that over the past decade, with interest rates at historic lows, it may have been a smart choice to finance housing costs, freeing up funds to invest or use for other purposes.

Business News in Brief

Mortgage rates steady at 8-year high

WASHINGTON -- U.S. long-term mortgage rates were steady to slightly up this week, at their highest levels in nearly eight years and amid dampening home sales.

Mortgage buyer Freddie Mac said Thursday the average rate on a 30-year, fixed-rate mortgage was unchanged from last week at 4.94 percent. That's the highest level for the benchmark rate since February 2011. A year ago the rate stood at 3.95 percent.

The average rate on a 15-year, fixed-rate loan rose to 4.36 percent from 4.33 percent last week.

Mortgage rates have risen along with the yield on the key 10-year Treasury note, which has been propelled higher in the past year by indications of quickening economic growth, expected interest rate increases and potentially higher inflation.

The yield on the 10-year note was 3.12 percent Wednesday, down from 3.23 percent last week but still far above 2.33 percent a year ago. As bond prices rose with traders pulled toward lower-risk assets, the rate on the 10-year note declined further to 3.09 percent Thursday morning.

What are the risks associated with a mortgage from an online company with low rates (ING, Lending Tree)?

Can anyone explain the risks of getting a mortgage with ING Direct as opposed to a bank (Bank of America)? Are the risks more long-term? What's the worst case scenario? Thanks.


I think the risks are short term. There is a lot of paperwork that needs to be done to complete a loan.