Mortgage rate fall for a third week in a row

By
Real Estate Agent with Ask Cathy Marketing Group with Keller Williams

 

The mortagage rate in U.S. Fell for the thrid week in a row according to Freddie Mac who release the date on Thursday. The rate for a 30-year fixed mortagage has stayed around 4.3 percent for the   past four of the last five weeks.

The average dropped for a 15-year fixed rate to its lowest level in six months, dropping to 3.29%. Hybrid type adjustable mortagages showed little to no change. The average for a one year ARM was unchanged from a week ago at 2.43%.

“Mortgage rates were little changed amid a week of light economic reports,” Frank E. Nothaft, Freddie Mac vice president and chief economist, said in a statement.“These lower than expected rates are welcome news with the spring home buying season underway and may even provide those who haven’t already refinanced possibly a reason to take another look. Of the few releases, advanced retail sales rose 0.1 percent in April, but below the market forecast consensus of a 0.4 percent increase. Also, the Producer Price Index for final demand rose 0.6 percent in April which followed a 0.5 percent boost from the prior month.”

If your intereste in buying or selling your house now is the time! Log on to www.askcathy.com and find out what your home or search for your next home today! 

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Chandler Real Estate Liz Harris, MBA
Liz Harris Realty - Chandler, AZ
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Thanks for this timely post.  Interesting and informative.  Look forward to the next one.  Liz 

May 21, 2014 10:13 AM #1
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