My Real Estate Blog

July 2nd, 2010 6:23 AM
Freddie Mac today released the results of its Primary Mortgage Market Survey showing the 30-year fixed-rate mortgage averaged 4.58% for the week ending July 1, 2010, down from last week when it averaged 4.69%. Last year at this time, the 30-year rate averaged 5.32%.

The 15-year FRM this week averaged 4.04%, down from last week when it averaged 4.13%. A year ago at this time, the 15-year FRM averaged 4.77%.

Meanwhile, house prices are improving due in part to the homebuyer tax credit. The S&P/Case-Shiller 20-city home price index grew 0.45 between March and April and was up 3.95 from April 2009, representing the largest annual gain since October 2006. Moreover, 17 of the metropolitan areas experienced monthly gains in April, compared to 10% in March and 6% in February.

Posted by Jim McCowan on July 2nd, 2010 6:23 AMPost a Comment (0)
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