Rates on 5-Year ARM Hit Record Low
Interest on five-year adjustable-rate mortgages averaged 3.89 percent for the week ended June 17, the lowest level since Freddie Mac began tracking the statistic in January 2005.
One-year Treasury-indexed ARMs also fell, dipping from 3.91 percent to 3.82 percent, the lowest average in more than 10 years. Also, 30-year fixed loans settled at 4.75 percent, a slight gain from 4.72 percent last week.
Source: The Wall Street Journal, Amy Hoak (06/18/2010)
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Home Lending Rates Falling Again
Rates on 30-year fixed mortgages fell to 5.14 percent for the week ended July 16, down from 5.20 percent a week before and 6.26 percent a year earlier, Freddie Mac reports.
Interest on fixed home loans has fallen in four of the past five weeks, and Freddie Mac economist Frank Nothaft says rate activity during that time has lowered the monthly payment on a $200,000 loan by $56.
Here’s a look at how other mortgage rates performed this week:
* 15-year fixed loans fell to 4.63 percent from 4.69 percent.
* One-year adjustable-rate mortgages fell to 4.76 percent from 4.82 percent.
* Five-year hybrid ARMs bumped up a notch to 4.83 percent from 4.82 percent.
Source: Grand Junction Free Press, Wyatt Haupt Jr. (07/17/09)
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