Yesterday the Federal Reservehiked the benchmark interest rate a quarter of a point, from 1.75 percent to 2 percent. Interest rates are the highest they have been in 10 years!Buyer who need a
FREDDIE MAC MORTGAGE RATES For The Week Ending October 1 2015
MCLEAN, VA--(Marketwired - Oct 1, 2015) - Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMM®), showing average fixed mortgage rates largely unchanged despite ongoing global growth concerns putting downward pressure on Treasury yields.
• 30-year fixed-rate mortgage (FRM) averaged 3.85 percent with an average 0.6 point for the week ending October 1, 2015, down from last week when it averaged 3.86 percent. A year ago at this time, the 30-year FRM averaged 4.19 percent.
• 15-year FRM this week averaged 3.07 percent with an average 0.7 point, down from last week when it averaged 3.08 percent. A year ago at this time, the 15-year FRM averaged 3.36 percent.
• 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.91 percent this week with an average 0.4 point, unchanged from last week. A year ago, the 5-year ARM averaged 3.06 percent.
• 1-year Treasury-indexed ARM averaged 2.53 percent this week with an average 0.2 point, unchanged from last week. At this time last year, the 1-year ARM averaged 2.42 percent. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions. Borrowers may still pay closing costs which are not included in the survey.
Quote attributed to Sean Becketti, chief economist, Freddie Mac: "In contrast to the volatility in equity markets, the 10-year Treasury rate -- a key driver of mortgage rates -- varied just a little more than 10 basis points over the last week. As a result, the 30-year mortgage rate remained virtually unchanged, dropping 1 basis point to 3.85 percent. This marks the tenth consecutive week of a sub-4-percent mortgage rate. Despite persistently low mortgage rates, the pending home sales index dropped 1.4 percent in August, suggesting possible tempering in existing home sales in September."
"There is no substitute for experience!" Growing up on Long Island, N.Y., Bart learned many things from his mom, who was a real estate attorney. He worked as a buyer in retail sportswear in New York u....
Latest Blog Posts
What would you do? Take a sure $10,000 now or roll the dice that our beloved Vegas Golden Knights will win the Stanley Cup and pocket $50,000 if they win or nothing if they lose?Last summer few
Yoga is the new "it" thing in Las Vegas (even though it's been around for centuries.) At goat yoga you can do downward dog with baby goats at a local park. You can try to do tree in one of the