RATES HIT A NEW LOW FOR THE YEAR

RATES HIT A NEW LOW FOR THE YEAR

Home loan interest dipped for the fifth week in a row, Freddie Mac reports. Rates on 30-year mortgages averaged 3.92 percent this past week, down from 3.97 percent the previous week and from 4.53 percent at the start of the year. The benchmark is now at the lowest level since June 2013! The rate for 15-year loans, which are often selected by borrowers who refinance, slipped to 3.08 percent from 3.18 percent.Market insiders have been expecting mortgage interest to climb based on speculation that the Federal Reserve would begin boosting its short-term rate in 2015; however, that rate hike has not materialized in response to the soft global economy, the spread of Ebola, and other international concerns.


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Phone: 615-973-6363
Dated: October 28th 2014
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About Dorothy: Dorothy Lee’s 20+ years extensive knowledge and experience in Real Estate provides her a unique v...

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