Hurry Interest Rates Are Moving Up

Dated: 07/09/2013

Views: 2700

Are you the buyer that has been waiting for the market to get lower before buying? Well your time ran out. The market is climbing and so is the interest rates that you will be paying, so hurry and get the lower interest rates while you can. See report below. 

If you are a seller now is the time to get your home on the market. Lower inventory means that your property may move faster especially if it is priced right. Contact me now.
Freddie Mac reports the following national averages with mortgage rates for the week ending June 27: 
  • 30-year fixed-rate mortgages: averaged 4.46 percent, with an average 0.8 point, rising from last week’s 3.93 percent average. It was the highest the 30-year fixed-rate mortgage has averaged since July 28, 2011. A year ago at this time, 30-year rates averaged 3.66 percent. 
  • 15-year fixed-rate mortgages: averaged 3.50 percent, with an average 0.8 point, rising from last week’s 3.04 percent average. Last year at this time, 15-year rates averaged 2.94 percent. 
  • 5-year adjustable-rate mortgages: averaged 3.08 percent, with an average 0.7 point, rising from last week’s 2.79 percent average. Last year at this time, 5-year ARMs averaged 2.79 percent. 
  • 1-year ARMs: averaged 2.66 percent, with an average 0.5 point, rising from last week’s 2.57 percent average. A year ago at this time, 1-year ARMs averaged 2.74 percent. 
Source: Freddie Mac
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Carolann Newton

I was a domestic paralegal for 8 years prior to Real Estate. Since I have been in Real Estate I have grown to love this business, even though it does have it's challenges; it is very exciting. There i....

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