Mortgage Rate Falls Under 4.5 % !
Freddie Mac reports that long-term mortgage rates moved south again this week.
Interest on 30-year fixed loans hit a new low of 4.49 percent, compared to 4.54 percent last week and 5.22 percent a year ago; and the 15-year mortgage landed at 3.95 percent, down from 4 percent last week and 4.63 percent a year ago.
Five-year adjustable-rate mortgages reached a new low of 3.63 percent, down from 3.76 percent last week and 4.73 percent a year ago; while one-year ARMs fell to 3.55 percent from 3.64 percent last week and 4.78 percent a year ago.
Interested in taking advantage of these record low rates? Contact me, and I would be happy to refer you to someone who I trust will give you an honest and accurate assessment.
Wishing you a wonderful weekend!!
Source: The Wall Street Journal, Amy Hoak and Nick Timiraos (08/06/10)