Mortgage rates rising

Freddie Mac reports the following national averages for mortgage rates for the week ending March 28:

  • 30-year fixed-rate mortgages: averaged 3.57 percent, with an average 0.8 point, rising from last week’s 3.54 percent average. A year ago at this time, 30-year rates averaged 3.99 percent. The 30-year fixed-rate mortgage has remained below 4 percent for more than a year.
  • 15-year fixed-rate mortgages: averaged 2.76 percent, with an average 0.7 point, rising from last week’s 2.72 percent average. Last year at this time, 15-year rates averaged 3.23 percent.
  • 5-year adjustable-rate mortgages: averaged 2.68 percent, with an average 0.6 point, rising from last week’s 2.61 percent average. Last year at this time, 5-year ARMs averaged 2.90 percent.
  • 1-year ARMs: averaged 2.62 percent, with an average 0.3 point, dropping from last week’s 2.63 percent average. A year ago at this time, 1-year ARMs averaged 2.78 percent.

So don’t delay your home purchase! Call today to let us help you get into a new home!



Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s