Mortgage Rate Falls Again to Set a 2011 Low | Sun Valley Real Estate

Posted

by

in , with

Home-mortgage interest rates fell last week to the lowest point of 2011 amid signs of a slowing economy, according to the latest survey from Freddie Mac.

“U.S. house prices indexes may be nearing a bottom soon,” Freddie Mac Chief Economist Frank Nothaft said, pointing to slower price declines in recent months and a reduction in the serious delinquency rate.

At the same time, the U.S. economy has showed signs of slowing, with Federal Reserve banks in Philadelphia, Chicago and Richmond, Va., reporting less business and manufacturing activity in their regions.

The 30-year fixed-rate mortgage averaged 4.60% in the week ended Thursday, down from 4.61% the prior week and 4.84% a year ago. The last time the 30-year rate was lower was in the week ended Dec. 2, when the rate was 4.46%. The rate fell to as low as 4.17% in November 2010 before surging to 5.05% in the week ended Feb. 10, 2011.

Rates on 15-year fixed-rate mortgages fell to 3.78% from 3.80% the previous week and 4.21% a year earlier.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.41%, down from 3.48% the prior week and 3.97% a year earlier. One-year Treasury-indexed ARMs declined to 3.11% from 3.15% the prior week and 3.95% a year earlier.

To obtain the rates, the fixed-rate mortgages required an average payment of 0.7 point, while adjustable mortgages required a lower 0.5 point. A point is 1% of the mortgage amount, charged as prepaid interest.

SOURCE: Wall Street Journal

Category:

,

to .

Weather Forecast: Sun Valley, Idaho

Select Category

Advertising

Areas

Auction

Bellevue

Biography

Buying

Codes

Construction Related

Consumer Behavior

Credit Related

Elkhorn

Energy

Expired Listings

Featured Listings

Financing

Foreclosure

Green

Hailey

Home Networks

Incentives

Inspections

Internet

Ketchum

Market Update

Marketing

Mortgage and Loans

New Listings

News

Photography

Profiles and Surveys

Recent Changes

REOs

Selling

Short Sales

Short Sales

Sun Valley

Uncategorized

Warm Springs

50°F

Clear

Humidity: 47%

Wind: N at 0 mph

Windermere Real Estate, Sun Valley – Hailey, Idaho @ George Martin, Jr. Associate Broker

Aly Chiman

Aly Chiman is a Blogger & Reporter at AlyChiTech.com which covers a wide variety of topics from local news from digital world fashion and beauty . AlyChiTech covers the top notch content from the around the world covering a wide variety of topics. Aly is currently studying BS Mass Communication at University.

Leave a Reply

Your email address will not be published.