Home Mortgage Rates Move Even Lower This Week-Denver Real Estate News
Mortgage Interest Rates Move Even Lower This Week
WOW! Fixed and adjustable-rate mortgages sank to new lows for the year, continuing a downward spiral for the eighth straight week. Freddie Mac reports in its weekly mortgage market survey. This Should encourage many Home Buyers to "get off of the Fence" and buy some homes. For Home Sellers in Denver and the Denver Metro area this means List your Home for sale now. It is Home Buying Season and home buying equals home selling. This is Exciting News.
Let's Take a closer look at how rates fared for the week:
• A 30-year fixed-rate mortgages averaged 4.49 percent this week, down from last week's 4.55
percent average. A year ago at this time. 30-year rates averaged 4.72 percent.
• A 15-year fixed-rate mortgage rates averaged 3.68 percent-its lowest level since November 2010.
A year ago at this time, the 15-year rate averaged 4.17 percent.
• A 5-year adjustable-rate mortgages averaged 3.28 percent this week, slipping from last week's
3.41 percent average. A year ago at this time, the 5-year ARM averaged 3.92 percent.
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Source: 'Mortgage Rates Move Lower Following Weak Jobs Report," Freddie Mac (June 9, 2011)