Why Everyone Is Talking About Mortgage Rates

DAILY REAL ESTATE NEWS | FRIDAY, JANUARY 16, 2015 Source: Freddie Mac
Borrowing costs got even cheaper for home buyers and refinancers this week, as mortgage rates continued to descend.
The 30-year fixed-rate mortgage averaged 3.66 percent this week, the lowest weekly average since May 23, 2013, Freddie Mac reports in its weekly mortgage market survey. What’s more, the 15-year fixed-rate mortgage dropped below 3 percent, also for the first time since May 2013.
Read more: Loan Demand Posts Biggest Leap in 6 Years
“Mortgage rates fell for the third consecutive week as oil prices plummeted and long term treasury yields continued to drop despite a strong employment report,” says Frank Nothaft, Freddie Mac’s chief economist. The unemployment rate has fallen to 5.6 percent, the lowest since June 2008.
This marked the third consecutive week that mortgage rates lowered as bond yield continued to drop despite a strong employment report, Freddie Mac reports.
Freddie Mac reports the following national averages with mortgage rates for the week ending Jan. 15:
30-year fixed-rate mortgages: averaged 3.66 percent, with an average 0.6 point, dropping from last week’s 3.73 percent average. A year ago at this time, 30-year rates averaged 4.41 percent.
15-year fixed-rate mortgages: averaged 2.98 percent, with an average 0.5 point, dropping from last week’s 3.05 percent average. Last year at this time, 15-year rates averaged 3.45 percent.
5-year hybrid adjustable-rate mortgages: averaged 2.90 percent, with an average 0.4 point, dropping from last week’s 2.98 percent average. A year ago, the 5-year ARM averaged 3.10 percent.
1-year ARMs: averaged 2.37 percent, with an average 0.4 point, dropping from last week’s 2.39 percent average. Last year at this time, 1-year ARMs averaged 2.56 percent.

I have excellent lenders standing by to give you a free analysis of your current financial position and help you decide if now is a good time for YOU to refi. Call me. 408-923-7758.

About Dawn O'Neal

Dawn O'Neal - WASHINGTON - Realogics Sotheby's International Realty - Managing Broker CALIFORNIA - Independent Broker~Owner~REALTOR® GRI, CRS, LTG®, RRC®, PMN® ASP®, e-PRO®, SRES®, CIPS, TRC®,SFR®, CHS®, CDPE®, Ombudsman and Trained in Negotiations & Mediation from Pepperdine University School of Law I have been self employed since 1975, a REALTOR® since 1990. I am a member of the Sequim Association of REALTORS® IN WASHINGTON and WAR® plus Santa Clara County Association of REALTORS® and CAR® in CALIFORNIA Plus NAR®. I work predominantly with residential clients, some commercial properties, 1031 exchanges, & extensively with Seniors. I have received many awards with RE/MAX and Realty World attaining both their top award of Hall of Fame & earned many designations. I love to work with clients in person or through emails & the Internet. Please visit my web page www.DawnOneal.com for a full profile, testimonials & my passion – Breakfast With Santa. CA DRE#01101500 WA License #26510 My Motto - Exceeding Expectations - ALWAYS!
This entry was posted in FHA & VA Loans, Lenders & Loans, NAR-National Association of REALTORS®, Personal Opinions, Real Estate - Sellers & Buyers, REALTOR® and tagged , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s