My Real Estate Blog

April 29th, 2011 7:45 AM
 Freddie Mac today released the results of its Primary Mortgage Market Survey which shows mortgage rates falling for the second consecutive week. The 30-year fixed-rate stands at 4.78% and the 15-year fixed at 3.97%, the lowest since December 9, 2010.

Last year at this time, the 30-year fixed-rate averaged 5.06% and the 15-year fixed-rate averaged 4.39%.  

5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.51% this week, with an average 0.6 point, down from last week when it averaged 3.61%. A year ago, the 5-year ARM averaged 4.00%.  

Declining home prices and a high level of foreclosures continue to affect housing tenure decisions. Between the third quarter of last year and the first quarter of 2011, the housing stock experienced a decline of nearly 400,000 homeowners on net, according to the Census Bureau. However, the National Association of Realtors® reported that during the same period there were almost 700,000 first-time home buyers, which suggests gross losses may have been closer to 1.1 million homeowners over the October-through-March time frame.

Posted by Jim McCowan on April 29th, 2011 7:45 AMPost a Comment (0)
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

Jim McCowan 4600 Lee Highway Arlington, VA 22207
Phone: Cell: Fax:

Curb Appeal List | Setting the Sales Price | Free Home Valuation | First Time Buyers | Get Pre-qualified | Home Buyer Checklist | Looking to Buy? | Looking to Sell? | Home | Writing the Offer | Staging Checklist | Buyer's Video | Seller's Video

Copyright © 2012 Jim McCowan
Portions Copyright © 2012 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.