The latest nationwide rates fyi.
Tuesday, January 08, 2008
Mortgage Rate Updates*
Current national average market rates with 0 points:
(Interest rates based on nation's leading survey of mortgage pricing, these are NOT Coldwell Banker interest rates)
30-year fixed 6.47%
5/1 ARM 6.35%
Commentary
Fixed mortgage interest rates fell almost a full ¼% last week as economic data tempered forecasts for 2008. Conforming (</= $417,000) 30-year fixed rates fell to 6.07%.
The employment report dominated the economic headlines as the unemployment rate rose from 4.7% to 5%, the highest in 4 years, with very few new jobs created in December (18,000).
Market watchers and the financial "talking heads" are calling for additional interest rate cuts by the Fed to help stimulate the economy, although interest rates at all levels are low. Mortgage interest rates are forecast to continue in a downward trend for the time being.
Stay tuned.
ANNE GREENE /Mortgage Advisor
(973) 694-4204 OFFICE
If you are thinking about moving to the beautiful Pascack Valley region, I can help. Just pick up the phone and call me at 551-206-1163. I am, also, available via email at http://mailto:bobwolfrealtor@gmail.com.
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