Goldman Sachs predicts mortgage rates will stay low, partially due to low demand.
Don Grafues
Resource: REALTOR.org
Resource: REALTOR.org
March 10, 2010
March 6, 2010
Mortgage Rates Decline
Freddie Mac’s weekly survey of rates shows a decline in 30 year fixed loans.
30 year fixed loans averaged 4.97 percent with 0.7 points for the week ending March 4. The week prior average was 5.05 percent and the same period a year ago was 5.15 percent.
The 15 year fixed rate was 4.33 percent, also with 0.7 points.
Don Grafues
Resource: FreddieMac
Resource: FreddieMac
Rates Up A Tad
Rates on 30 year fixed mortgage rose slightly last week going above the 5 percent level. 30 year average was 5.05 percent, 15 year fixed rates were up a bit to 4.40 percent.
Don Grafues
Resource: REALTOR.org
Resource: REALTOR.org
February 25, 2010
February 24, 2010
Rates Approaching Record Lows
Freddie Mac reports a slight lowering of interest rates last week.
- 30 year fixed averaged 4.93 percent.
- 15-year fixed loans slipped to 4.33 percent.
- 5-year ARM dropped to 4.12 percent.
- 1-year ARM moved to 4.23 percent.
Don Grafues
Resource: Freddie Mac & REALTOR.org
Resource: Freddie Mac & REALTOR.org
February 19, 2010
Rates Not Changing Much
The Mortgage Bankers Association reported on mortgage activity last week. Mortgage rates are not changing very much. For 80% loan to value mortgages, the national averages are;
- 30 year fixed, 4.94%.
- 15 year fixed, 4.33%.
The adjustable rate mortgage data is suspect but we’ll show it anyway. This rate has been running between 4% and 5%. We cannot account for this sudden jump.
- 1 year adjustable, 6.67%.
Don Grafues
Resource: Mortgage Bankers Association & REALTOR.org
February 13, 2010
Rates Down A Wee Bit
According to FreddieMac the national average 30 year fixed rate was 4.97%, down from 5.01%.
According to Zillow, the low was 4.25% in South Carolina and the high was the District of Columbia at 5.13%. The national average is obtained by surveying lenders and considering a $300,000 loan with 20% down and good credit.
According to Zillow, the low was 4.25% in South Carolina and the high was the District of Columbia at 5.13%. The national average is obtained by surveying lenders and considering a $300,000 loan with 20% down and good credit.
Don Grafues
Resource: REALTOR.org, Zillow.com & edmondsun.com
Resource: REALTOR.org, Zillow.com & edmondsun.com
February 9, 2010
Interest Rates Going Up
Next month the Federal Reserve begins to wind down its program of purchasing mortgage backed securities. April 30 marks the end of the home buyer tax credit. The FHA has tightened it requirements and raised its premium. All of these events will result in higher interest rates.
The Federal Reserve Bank of New York President said rates would be closely monitored and the Fed will act as necessary.
February 6, 2010
Interest Rates Hold Steady
Interest rates were virtually unchanged last week compared to the prior week.
- 30 year fixed, 5.01 percent, up from 4.98.
- 15 year fixed, 4.40 percent from 4.39.
- 1 year adjustable, 4.22 percent from 4.29.
Don Grafues
Resource: REALTOR.org
Resource: REALTOR.org
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January 31, 2010
Rates Hold Steady
Interest rates held steady last week.
- 30-year fixed loans averaged 4.98 percent down from 4.99 percent the prior week.
- 15-year fixed loans dropped from 4.40 to 4.39 percent.
- 5-year adjustable-rate mortgages 4.25 percent down from 4.27.
- 1-year ARMs down to 4.29 percent from 4.32.
Don Grafues
Resource: REALTOR.org
Resource: REALTOR.org
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