Just when it seemed like rates could not fall any further, Freddie Mac reported fixed mortgage rates sunk even further for the week ending May 10.
The 30-year fixed-rate mortgage averaged 3.83 percent (0.7 point), down slightly from last week’s average of 3.84 percent. A year ago at this time, the 30-year was 4.63 percent.
The 15-year fixed also moved downward, ending at 3.05 percent (0.7 point) this week. Last week it averaged 3.07 percent, and last year at this time it was 3.82 percent.
The 5-year ARM dropped to 2.81 percent (0.5 point) compared to 2.85 percent last week and 3.41 percent a year ago at this time.
The 1-year ARM moved up to 2.73 percent (0.5 point). Last week the 1-year ARM averaged 2.70 percent and 3.11 percent a year ago…
Read the rest of DSNews.com’s article here: “Rates Continue to Fall Hitting New Lows Amid Economic Concerns”.
Contact me today for real estate assistance! (619) 890-3648 | Email me
Latest posts by John A Silva (see all)
- Day After – Money Monday: Do this after filing your 2017 tax return - April 17, 2018
- San Diego County Events for April 13 – 15 - April 13, 2018
- California Real Estate Market Update - April 11, 2018