Financial Planning News, 30 Year Fixed Rates Mortgage Break New Low Record This Week
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rates mortgage (FRM) averaged 4.78 percent with an average 0.7 point for the week ending April 2, 2009, down from last week when it averaged 4.85 percent. The 30-year FRM has not been lower in the life of Freddie Mac’s weekly survey, which dates back to 1971 for the 30-year FRM.
The 15-year FRM this week averaged 4.52 percent with an average 0.7 point, down from last week when it averaged 4.58 percent. The 15-year FRM has never been lower in the life of Freddie Mac’s weekly survey, which dates back to 1991 for the 15-year FRM.
Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 4.92 percent this week, with an average 0.7 point, down from last week when it averaged 4.96 percent.
One-year Treasury-indexed ARMs averaged 4.75 percent this week with an average 0.6 point, down from last week when it averaged 4.85 percent.
“Mortgage rates followed other interest rates lower this week amid reports of slower economic growth” said Frank Nothaft, Freddie Mac vice president and chief economist. “The final estimate of economic growth in the fourth quarter was revised lower and personal incomes fell 0.2 percent in February, below the market consensus.
“On a positive note, pending existing home sales rose 2.1 percent in February, marking the second increase in three months as potential homebuyers are taking advantage of historically low mortgage rates and falling home prices.
So what are you waiting for? If you already have the plot to buy a home, start it right now! You can check the ‘Today’s Mortgage Rates‘ in this site and also ‘Best Mortgage Calculator‘. You can check how much monthly payment when you want to buy a house. Pleased hunting!
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Tags: 15 Year Fixed Rate Mortgage, 30 Year Fixed Rates Mortgage, 30 Year Fixed Rates Mortgage Break New Low Record, 5 year Treasury-indexed hybrid adjustable-rate mortgages, falling home prices, Financial News, Freddie Mac, FRM, Loans, low mortgage rates, Mortgage or Home Loans, One-year Treasury-indexed ARMTags: 15 Year Fixed Rate Mortgage, 30 Year Fixed Rates Mortgage, 30 Year Fixed Rates Mortgage Break New Low Record, 5 year Treasury-indexed hybrid adjustable-rate mortgages, falling home prices, Freddie Mac, FRM, low mortgage rates, One-year Treasury-indexed ARM
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