The mortgage bond market declined slightly this past week, disappointed that the European Central Bank did not attempt a larger economic stimulus. Mortgage rates declined this week in antipation of massive markets intervention by the ECB--that didn't happen. Bond traders weighed that information against less-than-stellar domestic employment reports and gently sold bonds all week.
Mortgage rates rose slightly, week-over-week. You can see mortgage rates as of September 1, 2014 here and follow the national average mortgage rates at Bankrate.com.
San Diego mortgage rates tend to be .125% LOWER than the national average. Average rates as of September 5, 2014:
30 Year fixed conventional average= 4.06%
15 Year fixed conventional average= 3.17%
30 year fixed VA/FHA average= 3.65%
30 year fixed VA/FHA jumbo avg.= 4.0%
5/1 adjustable rate conv. average= 3.52%
I published articles this week about:
1- The importance of the reserve study for a VA condominium complex approval
2- Why listing your house at a lower price might yield a higher sales price.
3- How sellers can save money by offering financing terms before lowering price to meet low offers.
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs
It is great to have the latest mortgage market update. Thanks for sharing have a great weekend.
Sep 05, 2014 06:39 AM
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Brian Brady
Tampa, FL
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Brian, I agree with Pat, our buyers often ask what the mortgage rates are and other questions. Of course, it depends on each individual but at leat we should be able to provide a general answer. Thanks!
Sep 05, 2014 10:48 AM
Matthews Capital Markets - Tampa, FL
858-699-4590
It's boring stuff Pat Champion & Silvia Dukes PA, REALTOR but a necessary evil for at least 70% of the buyers. If you want to receive my Friday afternoon mortgage rates report, text the word RATE to 313131
Sep 06, 2014 12:37 AM
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Pat Champion
Eustis, FL
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Silvia Dukes PA, Broke...
Spring Hill, FL
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