Special offer

Fixed Rate Mortgages Hover at 4 Percent

By
Real Estate Broker/Owner with Hawaii Dream Realty LLC RB-19372

While interest rates hover at historic lows, Oahu Real Estate is showing signs of stability. Our realtively low unemployment, economic stimulus from this past Asian Pacific Economic Conference, and a declining housing inventory has contributed to our stability. Below mortgage rate information was obtained from Market Watch. The rates and mortgage product information is provided for general information purposes only. For more local mortgage information include histroic rate charts, rate forecasts, calculators, contact information on local lenders, and other useful mortgage information for those considering a purchase on Oahu, visit our mortgage center

As our client, we advise you on local financial institutions and mortgage broker services, guide you through the mortgage process, and assist you with obtaining mortgage offers so you can assess the costs, terms, and benefits of each offer.

 
 17, 2011, 10:35 a.m. EST

30-year mortgage averages 4%: Freddie Mac

Rates move little as economy shows potential, economist says

By Amy Hoak, MarketWatch

CHICAGO (MarketWatch) — Rates on fixed-rate mortgages inched up slightly this week, with the 30-year fixed-rate mortgage averaging 4%, according to Freddie Mac’s weekly survey of conforming mortgage rates, released on Thursday.

Rates on the 30-year mortgage averaged 3.99% last week and 4.39% a year ago.

Fifteen-year fixed-rate mortgages averaged 3.31% for the week ending Nov. 17, up from 3.3% last week; the mortgage averaged 3.76% a year ago.

Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.97%, down from 2.98% last week and 3.4% a year ago.

And 1-year Treasury-indexed ARMs averaged 2.98%, up from 2.95% last week. The ARM averaged 3.26% a year ago.

To obtain the rates, the fixed-rate mortgages required payment of an average 0.7 point, while the ARMs required payment of an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.

“Mortgage rates were little changed this week just as the economy is showing potential for further gains in the near term,” said Frank Nothaft, vice president and chief economist, Freddie Mac, in a news release.

Retail sales rose for the fifth month in a row in October, and consumer confidence rose for the third consecutive month in early November, Nothaft pointed out. 

Even home-builder confidence is on the rise: The NAHB/Wells Fargo Housing Market Index in November had its strongest reading since May 2010, Nothaft said. 

Posted by

Aloha and Mahalo,

Theresa Harden
Principal Broker e-PRO, SFR, Realtor

Direct: (808) 223-0429
Office: (808) 735-2221
Toll Free (866) 800-7250

eFax: (866) 405-4274 

Skype: theresa.harden
Oovoo: hawaii_realtor

Waikiki Sales Office
2463 Kuhio Ave. C1
Honolulu, Hawaii 96815

Search for Oahu Real Estate For Sale www.Invest808.com

Oahu Property Management Services www.OahuRentalServices.com

Comments (0)