Estate and mortgage
Mortgage Rates Remain Low, Increasing Affordability
The 15-year FRM this week averaged 4.46 percent with an average 0.6 point, down from last week when it averaged 4.47 percent. A year ago at this time, the 15-year FRM averaged 5.77 percent. This is the lowest the 15-year FRM has been since Freddie Mac started tracking it in 1991. The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.51 percent this week, with an average 0.5 point, unchanged from last week when it averaged 4.51 percent. A year ago, the 5-year ARM averaged 6.02 percent. The one-year Treasury-indexed ARM averaged 4.52 percent this week with an average 0.6 point, down from last week when it averaged 4.58 percent. At this time last year, the 1-year ARM averaged 5.03 percent. "Mortgage rates held relatively steady at three-month lows this week,” said Frank Nothaft, Freddie Mac vice president and chief economist. Correspondingly, the Mortgage Bankers Association reported that mortgage applications jumped 12.8 percent over the week of September 18th to the strongest pace since late May, boosted by refinancing activity." "In its September 23rd policy statement, the Federal Reserve (Fed) indicated that it plans to keep its benchmark interest rate exceptionally low for an extended period. This will likely benefit consumers who opt for ARMs, because they are typically tied to shorter-term interest rates. The Fed also noted that activity in the economy and housing market has picked up and financial markets have improved.”Payday loan commented:
It is a good news for home buyers. Now they can afford to have their own home with ease.
02.12.2011
pay day advance commented:
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13.03.2012
Business Network Asia commented:
Due to the low rates of mortgage home buyers can get good profit. It is a good opportunity for them to have their own home.
07.04.2012
Property Investment Australia commented:
Well I think nothing gives better mortgage rates information on the concerned topic rather than this article. Nice post. Keep it up
16.04.2012
Aussie expat commented:
Just flattered with mortgage post, what a fab read. Thanks for the post. Well written and most detailed post so far.
09.05.2012