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Keith Schemm's Daily Rate Summary

Mortgage Rates and Treasury Yields Mixed.
On Thursday, Treasury bond yields and Mortgage interest rates were unchanged. After eight days in a row interest rates & bond yields stopped worsening. The Fed statement contained no fireworks and the credit markets began to rally after the statement was released. With the Debt-Ceiling extension agreement as cover until December, it's "risk-on" for speculators and investors again in the equity markets as inflation fears once again hurt bonds. The December 10 Yr. U.S. Treasury Note stood at a yield of 2.2765% and the 30 Yr. U.S. Treasury Bond is yielding 2.8050%. 30 Year Mortgages according to Freddie Mac were around 3.83% for conforming and 3.60% for Jumbo products.

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Keith Schemm

ERATE employee warned families about Toxic Mortgages years before the mortgage meltdown. Bloomberg/Businessweek

June 9, 2005 - Keith M. Schemm, a mortgage broker in Santa Clara, CA, says option ARMS are "pretty dangerous loans to do" for many families. "The problem is there's such a frenzy in the marketplace to buy a home."

Too bad Fed Chairman, Alan Greenspan didn't sound the alarm about such mortgages. He should have consulted with Keith. (Keith Schemm NMLS ID: 336660)

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Guidelines to mortgage refinancing

When searching for a home loan it is advised to first determine the financial objectives you require of a home loan. Consider the following: ....

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Freddie Mac Weekly Rate Summary

30-year fixed-rate mortgage(FRM) averaged 3.86 percent with an average 0.5 point for the week ending August 24, 2017, down from last week when it averaged 3.89 percent. A year ago at this time, the 30-year FRM averaged 3.43 percent. 

15-year FRM this week averaged 3.16 percent with an average 0.5 point, the same as last week. A year ago at this time, the 15-year FRM averaged 2.74 percent.   

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.17 percent this week with an average 0.5 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 5-year ARM averaged 2.75 percent.

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