Mortgage Rates Continue to Hover Near Lows
Mortgage Rates Continue to Hover Near Lows
Article by: Daily Real Estate News (September 14, 2012)
Fixed-rate mortgages mostly held steady this week near their all-time lows, keeping the purchasing power of home buyers high.
Thirty-year fixed-rate mortgages, the most popular choice among home shoppers, has been below 4 percent every week this year except for one, Freddie Mac reports in its weekly mortgage market survey. Fifteen-year fixed-rate mortgages, which tend to be more popular among refinancers, has remained below 3 percent since the last week in May.
Freddie Mac reports the following average mortgage rates for the week ending Sept. 13:
- 30-year fixed-rate mortgages: averaged 3.55 percent, with an average 0.6 point, holding the same as last week. A year ago, 30-year rates averaged 4.09 percent.
- 15-year fixed-rate mortgages: averaged 2.85 percent, with an average 0.6 point, down slightly from last week’s 2.86 percent average. A year ago, 15-year rates averaged 3.30 percent.
- 5-year adjustable-rate mortgages: averaged 2.72 percent, with an average 0.6 point, dropping from last week’s 2.75 percent average. Last year at this time, 5-year ARMs averaged 2.99 percent.
- 1-year ARMs: averaged 2.61 percent, with an average 0.4 point, holding the same as last week’s average. A year ago, 1-year ARMs averaged 2.81 percent.
Source: Freddie Mac (September 13, 2012); Daily Real Estate News | Blog distribution provided by Kenneth Bargers and Bargers Solutions, member of Pilkerton Realtors, residential real estate services located in Nashville, Tennessee
September 15, 2012 - Posted by kbargers | economy, real estate | bargers solutions, blog, current rates, daily real estate news, freddie mac, home buyers, home loans, home sellers, kenneth bargers, mortgage rates, Nashville, new loan application, pilkerton realtors, refinance, september 2012, tennessee
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