Low Mortgage Rates Are Lingering

Low Mortgage Rates Are Lingering

 

The average percentage rates for fixed-rate mortgages inched up slightly this week, but continue to hover near yearly lows.

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 11:

  • 30-year fixed-rate mortgages: averaged 4.12 percent, with an average 0.5 point, up slightly from last week’s 4.10 percent average. Last year at this time, 30-year fixed-rate mortgages averaged 4.57 percent.
  • 15-year fixed-rate mortgages: averaged 3.26 percent, with an average 0.5, rising from last week’s 3.24 percent average. A year ago, 15-year fixed-rate mortgages averaged 3.59 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.5 point, rising from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.22 percent.

1-year ARMs: averaged 2.45 percent, with an average 0.4 point, rising from last week’s 2.40 percent average. A year ago, 1-year ARMs averaged 2.67 percent.

 

My 2 cents – Talk around the water cooler is interest rates will rise since the market has recovered. So if you’re thinking about investing in real estate – the Spring/Summer rush has cooled and Autumn is a great time to find investments with not as much competition. If a property is for sale over the holidays it needs to sell – and we’ve assisted several clients buy homes during the off season for a great price compared to earlier this year.

 

I read this article at: http://realtormag.realtor.org/daily-news/2014/09/12/low-mortgage-rates-are-lingering?om_rid=AACmlZ&om_mid=_BUEz4EB88ZKvTn&om_ntype=RMODaily

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Sabrina Caton - The Caton Team Realtors

Sabrina & Susan are native Californians - born and raised in the Silicon Valley with a passion for Residential Real Estate. A mother and daughter-in-law duo called - The Caton Team. With over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text at: 650-799-4333 | Email Info@TheCatonTeam.com The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. The Peninsula is our backyard - let us help make it yours. We represent Buyer’s and Seller’s throughout the Bay Area. The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?

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