Special offer

Mortgage Rates Drop Below 4% Week Ending 11/10/11

By
Real Estate Broker/Owner with Realty Empire Incorporated

30 Year Fixed Rates Drop Below 4% This Week..

 

Here’s the scoop on mortgage rates for the week ending Nov. 10:

  • 30-year fixed-rate mortgages: averaged 3.99 percent with an average 07 point, down from last week’s 4 percent average. The last time the 30-year fixed-rate mortgage dropped below 4 percent was Oct. 6 when it averaged 3.94 percent. Last year at this time, 30-year rates averaged 4.17 percent. 
  • 15-year fixed-rate mortgages: averaged 3.30 percent with an average 0.8 point, dropping slightly from last week’s 3.31 percent average. Last year at this time, 15-year rates averaged 3.57 percent. 
  • 5-year adjustable-rate mortgages: averaged 2.98 percent, with an average 0.6 point, rising from last week’s 2.96 percent average. A year ago at this time, the 5-year ARM averaged 3.25 percent. 
  • 1-year ARMs: averaged 2.95 percent with an average 0.6 point, up from last week’s 2.88 percent average. A year ago at this time, the 1-year ARM averaged 3.26 percent.


Source: Daily Real Estate News | Friday, November 11, 2011

Posted by

 

Stephanie Leon

Real Estate Broker
Realty Empire

6625 Miami Lakes Dr.
Miami Lakes, FL 33014

Contact me at:
786-664-7710
SLeon@RealtyEmpire.net

 

 

                        

  

 

All Rights Reserved. Copyright 2010-2018 Stephanie Leon Realty Empire 

Comments (1)

Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

It was a great time to lock in rates for my clients. It is a great time for buyers to be able to take advantage of these opportunities.

Nov 11, 2011 11:07 PM