Bad Economy GOOD for Mortgage Rates!

By
Mortgage and Lending with The Federal Savings Bank

Mortgage rates dropped "thanks" to a weak jobs report, mortgage financier Freddie Mac reported today.

The 30-year fixed averaged 5.03 percent during the week ending March 12, down from 5.15 percent last week and 6.13 percent a year ago. That's very close to January's all time recorded low of 4.96 percent.  Rates have drifted up and down only by about one-quarter of a percent in the first months of this year.

The 15-year averaged 4.64 percent, down from 4.72 percent a week earlier and 5.60 percent this time last year.  A weaker jobs market may slow consumer spending and keep inflation at bay," said Frank Nothaft, Freddie Mac vice president and chief economist.

Jumbo loans continue to price about one-and-a-half points higher than conforming loans.

Freddie's weekly interest rate survey covers conforming mortgages with a loan-to-value of 80 percent.

www.MortgageAdvisor.info & www.GregZaccagni.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 leaf to the circle on the side.

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

Tags:
bad economic news good for mortgage rates
illinois mortgage lender advisor adviser greg zaccagni

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 truck 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 pencil to the circle on the side.

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

Rainer
45,954

Greg Zaccagni

Illinois Mortgage Lender
Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

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

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

Additional Information