Easy Approval For Loans Announces Easy Mortgage Loans, only 4% Rise

CALCUTTA, India - Dec. 1, 2015 - PRLog -- Press Release, 30th November, 2015: In the face of constantly increasing prices of real estate, a slight decline of the mortgage rates has come as an ease for the homebuyers. Easy Approval For Loans, one of the most trusted finance companies recently announced that since July 23rd, 2015, the rate of mortgage loans has risen very slightly and not exceeded a 4% margin.

However, owing to the Thanksgiving Day, the rates have also slightly declined, making it even more affordable for the home buyers to seek for a short term loan. When the Chief Loan Approval Officer of Easy Approval For Loans was asked about the reason why house prices have increased so drastically, he held the low levels of inventory in many markets as responsible.

From the 3.97% average in the previous week, the 30-year fixed-rate mortgage (FRM) came down to 3.95% average, by the end of the week that ended on 25th November, 2015. Whereas, the 15-year fixed-rate mortgage (FRM) has remained unchanged at 3.18% average.

The Longview News Journal showed that the rise in the mortgage rate is because of the shift of focus of foreign buyers in October, to the Federal Reserve Bank from the 10-year U.S. Treasury bonds. The journal also added that the increasing inflation level and the 5% unemployment level, also contribute into this rise of mortgage rate.

The officials from the Federal Reserve Bank have to increase the federal funds rate, which will be for the first time in nearly a decade of time. This increase would indicate an end to the stimulus measure that started during the Great Recession. However, this slight increase in the interest rate from the near zero level would impact the borrowing level by limiting it. The businesses and consumers on the other hand, would be benefited with the short term loan.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) average has been 2.98% in the previous week. But it has increased to 3.01% this week. 1-year Treasury-indexed adjustable-rate mortgage (ARM) average on the other hand, has decreased from 2.64% from the previous week to 2.59% in the current week. Since no Economic releases have been quite surprising and none are expected to be, in the next few days, the rates are expected to remain unchanged. This will indeed be beneficial for the buyers, consumers and businesses that are wishing to get mortgage loans for short term.

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