Sept. 19,2020Hard to imagine we are almost finished with 2020! What a year this one has been. BUT the one thing that has remained to be strong and steady is the housing market. Especially here in
Mortgage Rates Move Lower This Week
Mortgage rates broke a monthlong holding pattern and inched lower this week.
"The 10-year Treasury yield remained relatively flat this week, while the 30-year mortgage rate fell 6 basis points to 4.1 percent,” says Sean Becketti, Freddie Mac’s chief economist. “Since the beginning of the year, the 10-year Treasury yield has covered a 22 basis point range. The range of movement for the 30-year has been half that, just 11 basis points."
Freddie Mac reports the following national averages with mortgage rates for the week ending March 2:
30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, dropping from last week’s 4.16 percent average. A year ago, 30-year rates averaged 3.64 percent.
15-year fixed-rate mortgages: averaged 3.32 percent, with an average 0.5 point, falling from last week’s 3.37 percent average. Last year at this time, 15-year rates averaged 2.94 percent.
5-year hybrid adjustable-rate mortgages: averaged 3.14 percent, with an average 0.4 point, falling from last week’s 3.16 percent average. A year ago, 5-year ARMs averaged 2.84 percent.
Source: Freddie Mac
Latest Blog Posts
Wow can you believe 2018 is quickly coming to an end? The real estate market has been interesting this year in the East Valley. March thru July was insane with multiple offers, prices going up, and
Hello world,I know I have not been very good about blogging. BUT that is going to be changing, as well as we are (as a team) going to get better about videos to also share. ANYWAYS........ I