My Real Estate Blog

April 2nd, 2010 7:19 AM
Interest rates for fixed mortgages rose this week following a run up in long-term bond yields.  Rates for 30-year fixed loans were the highest since the starting week this year.

Freddie Mac released the results of its Primary Mortgage Market Survey in which the 30-year mortgage averaged 5.08 percent with an average 0.7 point for the week ending April 1, 2010, up from last week when it averaged 4.99 percent. Last year at this time, the 30-year FRM averaged 4.78 percent.

The 15-year mortgage rate this week averaged 4.39 percent with an average 0.6 point, up slightly from last week when it averaged 4.34 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent. 

In addition, house prices were down (nation wide) 0.7 percent in January 2010, which was the smallest 12-month decrease since January 2007. 

Nine areas, including here in the Metropolitan DC area, experienced positive growth, led by San Francisco’s 9.1 percent annual gain.

Recently, the Mortgage Insurance Companies of America reported that homeowners who moved out of default outnumbered those who became newly delinquent in February, which was the first such occurrence since March 2006.

Posted by Jim McCowan on April 2nd, 2010 7:19 AMPost a Comment (0)
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