My Real Estate Blog

September 17th, 2010 8:20 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing the 30-year fixed-rate mortgage rate rose, the 15-year fixed-rate dipped slightly; shorter-term rates fell.

30-year fixed-rate mortgage averaged 4.37% with an average 0.7 point for the week ending September 16, 2010, up from last week when it averaged 4.35%. Last year at this time, the 30-year averaged 5.04%.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.55% this week, with an average 0.6 point, down slightly from last week when it averaged 3.56%. A year ago, the 5-year averaged 4.51%.

Interest rates on 30-year fixed mortgages have remained below 5 percent for the last 19 weeks giving people ample opportunity to refinance their existing mortgage debt. As a result, homeowners reduced their financial obligations relative to disposable personal income during the second quarter of 2010 to the lowest share in almost eight years, according to the Federal Reserve .

Posted by Jim McCowan on September 17th, 2010 8:20 AMPost a Comment (0)
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