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Saturday, 23 August 2014

Jeff Adams Real Estate Seminar Mortgage Rates Report Low for this year

 Jeff Adams Real Estate Seminar Mortgage Rates Report Low for this year despite prediction that mortgage rates were to inch up in the second half of this year, fixed-rate mortgages continue to tumble.

borrow costs moved lower this week, as the 30-year fixed-rate mortgage dipped to a 4.10 % average, Freddie Mac reports in its weekly mortgage survey. The 30-year fixed-rate mortgages earlier low average for the year was 4.12 %.

The reports following 

Thirty-year fixed-rate mortgages:

Averaged 4.10 %, with an average 0.5 point, dropping from last week’s 4.12 %. 2013 at this time, thirty-year rates averaged 4.58 %.

Fifteen-year fixed-rate mortgages:

Averaged 3.23 %, with an average 0.6 point, dropping from last week’s 3.24 % average. A year ago, fifteen-year rates averaged 3.60 %.

Five-year hybrid adjustable-rate mortgages:

Averaged 2.95 percent, with an average 0.5 point, dropping from last week’s 2.97 % average. Last year at this time, five-year ARMs averaged 3.21 %.

One year ARMs: 

Averaged 2.38 %, with an average 0.5 point, rising from last week’s 2.36 % average. A year ago, one-year ARMs averaged 2.67 %.