Freddie Mac Weekly Update: 30 Year Mortgage Drops for Third Consecutive Week

By
Services for Real Estate Pros with yourpropertypath.com



30-year fixed-rate mortgage:
 
averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up  from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent. 

The 15-year fixed-rate mortgage:  this weekend 4.87 percent with an average 0.7 point for the week ending March 3, 2011, down from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.97 percent.

Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 4.15 percent with an average 0.7 point, down from last week when it averaged 4.22 percent. A year ago at this time, the 15-year FRM averaged 4.33 percent.

One-year Treasury-indexed ARMs: averaged 3.72 percent this week, with an average 0.6 point , down from last week when it averaged 3.8 percent. A year ago, the 5-year ARM averaged 4.11 percent.

Freddie Sayz

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac

Mortgage rates saw an overall improvement this week. Interest rates for 30-year fixed mortgages were almost 0.2 percentage points below this years high set just three weeks ago. This means that homebuyers could now expect to pay $263 less per year on a $200,000 loan

However, housing demand still remains weak. New home sales in January were near record lows dating back to 1963 when the data began, according to the Census Bureau  Similarly, pending sales of existing homes fell for the second consecutive month in January, according to the National Association of Realtors

 

Thanls For Reading

www.yourpropertypath.com

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the car to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Tags:
freddie freddie mac update
interest rates
mortgage rates
home buyers
bank loans
refinance

Comments 0 New Comment

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the magnifying-glass to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the music-note to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Rainmaker
30,232

Howard Sobel

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the sunglasses to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: