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Starting 2015 with Lower Mortgage Interest Rates
Yesterday, 1/8//2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.73% down from 3.87% last week. The average interest rate for 15 year fixed-rate mortgages was 3.05%, down from 3.15% last week. A year ago the 30 year rate was 4.51%.
Freddie Mac's spokesperson said, "Mortgage rates fell to begin the year as 10-year Treasury yields slid beneath 2 percent for the first time in three
months. Meanwhile, the Fed minutes indicated ongoing discussion regarding the timing of the first rate hike. Of the few economic releases this week, ADP Research
Institute reports the private sector added an estimated 241,000 jobs in December, which exceeded market expectations and followed an upward revision of 19,000 jobs in November."
Do keep in mind that we are a very large country, So figures that come out for the entire nation, may have little or no relevance for your particular area. In the end, it is best if you speak with a local REALTOR or financing expert to see what the situation is for your part of the United States. Florida is not Michigan, nor is Maine the same as California. Market conditions can be very different from place-to-place. Also, ... more

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