Year Over Year Mortgage Rate Analysis – Not Much Has Changed

Year Over Year Mortgage Rate Analysis – Not Much Has Changed

Posted by on Feb 7, 2009 in Featured Articles, Mortgage Rates, Say What? | 1 comment

Comparing February’s 2008 conforming mortgage rates to today’s average rates, there’s a .50 percent difference in favor of homeowners.

One would think we would be in a much better position then last year, as the numbers and chart show, NOT much has Changed. Even with the FED commitment to buy MBS rates still wont stay down.

Look at these before-and-after payments, based on rates from the chart:yoy

$150,000 mortgage ($47 savings/month)
•    February 2008: $863 monthly
•    February 2009: $816 monthly

$250,000 mortgage ($78 savings/month)
•    February 2008: $1,439 monthly
•    February 2009: $1,361 monthly

$350,000 mortgage ($109 savings/month)
•    February 2008: $2,014 monthly
•    February 2009: $1,905 monthly

[where: 98109] [where: 85012]

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One Response to “Year Over Year Mortgage Rate Analysis – Not Much Has Changed”

  1. Moishe Alexander says:
    February 8, 2009 at 6:52 pm

    Prime rates are way down. Somebody must be taking up the difference, right?

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