Interest Rates remain low for week ending Feb 14th, 2013

By
Mortgage and Lending with Mortgages Unlimited, Inc NMLS 274132

Minneapolis, MN: Freddie Mac yesterday released the results of its most current Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage rates unchanged from the previous week and remaining near their record lows as they continue to support housing demand, translating into a pick-up in home prices in most markets. balance_ratesNews Facts

  • 30-year fixed-rate mortgage rates (FRM) averaged 3.53 percent with an average 0.8 point for the week ending February 14, 2013, the same as last week. Last year at this time, the 30-year FRM averaged 3.87 percent.
  • 15-year fixed mortgage rates this week averaged 2.77 percent with an average 0.8 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.16 percent.
  • 5-year adjustable rate mortgages (ARM) averaged 2.64 percent this week with an average 0.6 point, up from last week when it averaged 2.63 percent. A year ago, the 5-year ARM averaged 2.82 percent.

Freddie Mac’s survey is the average of loans bought from lenders * last week, including discount points. Applicants must pay all closing costs at these rates. No cost loan rates higher.

Follow this link to view today’s best MN and WI mortgage interest rates.

Quotes Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac. "Mortgage rates remain near record lows and continue to support housing demand, translating into a pick-up in home prices in most markets.

The median sales price of existing homes rose 10 percent between fourth quarter 2011 and 2012, the largest year-over-year gain in seven years. Among large metropolitan areas, 88 percent saw positive annual increases in the fourth quarter, compared to 81 percent in the third quarter and 75 percent in the second. The largest gains occurred in Phoenix (34 percent), Detroit (31 percent) and San Francisco (28 percent)."

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Lending / Financial
Location:
Minnesota
Groups:
Mortgages
All About Mortgages/Mortgage Networking
The FHA Mortgage Group
Investment Property (USA)
Tags:
interest rates
mortgage minneapolis
refinance rates
mortgag rates
mortgage st paul

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
207,846

Joseph Metzler

Sr Loan Officer
Free Loan Consultation
*
*
*
*
Spam prevention

Additional Information