My Real Estate Blog

September 2nd, 2011 7:27 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing mortgage rates declining amid continued weak economic and housing data. While the 30-year fixed held steady, the 5-year ARM set a new all-time record low having fallen for the eighth consecutive week and now standing at 2.96%.

30-year fixed-rate mortgage averaged 4.22% with an average 0.7 point for the week ending September 1, 2011. Last year at this time, the 30-year averaged 4.32%.  

15-year this week averaged 3.39% with an average 0.6 point, down from last week when it averaged 3.44%. A year ago at this time, the 15-year averaged 3.83%.

Weaker economic data reports eased upward pressure on mortgage rates this week and kept them at or near all-time record lows. The economy grew at a slower rate of 1% in the second quarter than was originally reported due to a smaller increase in inventories and fewer exports. 

Posted by Jim McCowan on September 2nd, 2011 7:27 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.