30 Year Fixed Mortgage Rate Falls Below Previous 2014 Low

Fixed mortgage rates dropped to the lowest point in 2014 last week. Mortgage rates fluctuate daily but overall have remained competively low for the majority of 2014. With a recovering real estate market, it's important the cost of financing  remains low, especially for first time buyers.

Freddie Mac released new mortgage rate figures based on its Primary Mortgage Market Survey. Mortgage rates are still extremely low which is essential for many home buyers in Indio, California. With home values rising, home affordability will again become a major issue for a lot of home buyers in the Coachella Valley. 

30 Year Fixed-Rate Mortgage

• Averaged 4.10% for the week ending Aug. 21, 2014.
• Fell below its previous 2014 low of 4.12 percent.

Rates are so competitive right now, I have had several clients who could purchase with all cash actually fiance a portion of their home purchase because rates are so affordable.

The 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point last week, down from the previous week when it averaged 4.12 percent. A year ago at this time, the 30-year FRM averaged 4.58 percent.

Have a mortgage question? Click here to contact me via email or call/text me at 760-574-8486. I service all of the Coachella Valley including Indio, La Quinta, Palm Desert, Rancho Mirage, and Palm Springs.