Average long-term U.S. mortgage rates edged lower this week, with the key 30-year loan rate remaining under 4 percent. The 10/1 Adjustable Rate Mortgages are available starting at 3.71% with an April of 3.585%.
Freddie Mac reported that the 30-year fixed-rate mortgage (FRM) averaged 3.93 percent with an average 0.6 point for the week ending August 20, 2015, down from last week when it averaged 3.94 percent.
15 year fixed rate mortgages start at 3.500% at the bank carrying an April of 3.811% today. 30 year jumbo loan interest rates at the bank are listed at 4.625% and April of 4.777%.
[How borrowers can help make the mortgage application process go smoother].
QuoteAttributed to Sean Becketti, chief economist, Freddie Mac.
The one-year ARM average was unchanged at 2.62 percent with an average 0.3 point.
The typical price on five-year adjustable-rate mortgages rose to 2.94% from 2.93%; the charge remained at zero. The 3 year ARM interest rates have been published at 2.250% today with an April of 3.261%.
Mortgage rates barely moved from last week, with rates once again coming in below 4%, the latest Freddie Mac Primary Mortgage Market Survey found. For 5/1 ARMs, the rate was 2.76 percent.
“Overall inflation grew an underwhelming 0.2 percent year-over-year in July, but core inflation remains steady at 1.8 percent keeping chances alive for a potential rate hike in September”.
The speed on 15-year fixed-rate mortgages eased this week to three.15% from three.17%. One-unit housing starts in July 2015 jumped to 782,000 units, up 12.8 percent from June and up 19 percent from a year ago. “Overall housing markets remain on track for the best year since 2007″.
read more: http://www.tjcnewspaper.com/fixed-mortgage-rates-dip-could-fall-further-16378/
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