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Hello neighbors,

As for the weekly mortgage rates for the week ending July 22nd, Freddie Mac reported 30-year fixed-rate mortgages to be at 4.56% with an average 0.7 point for the week on their weekly Primary Mortgage Market Survey. This week's average was down from both last week's average of 4.57% and last year's average of 5.20%.

This week's 15-year FRM came in at an average record low of 4.03% with an average 0.7 point which also showed a decrease from last week's average of 4.06% and last year's average of 4.68%.

The 5-year Treasury-indexed hybrid ARM dropped from last week's average of 3.85% to 3.79% this week with an average point of 0.6. Last year during this time the 5-year Treasury-indexed hybrid ARM was sitting at 4.74%.

Lastly, the 1-year Treasury-indexed ARM produced an average of 3.70% with an average 0.7 point this week according to Freddie's report. This number, like the others, also showed a decrease from last week's average of 3.74% and last year's average of 4.77%.

Like the previous weeks, this week's mortgage rates reached record lows for Freddie Mac's survey.

Mortgage Rates Experience Very Little Change for the Week Ending July 15th

by the zac team at Ponce Realty

Hello neighbors,

Freddie Mac released their Primary Mortgage Market Survey today for the week ending July 15th. According to recent numbers, there was a tie with last week's record low average for the 30-year fixed rate mortgage which came in at 4.57 percent and an average 0.7 point. In comparison to this time last year, the 30-year fixed rate mortgage averaged 5.14%.

The 15-year FRM came in at 4.06% with an average 0.7 point. This number was a decrease from last week's 4.07% and last year's 4.63%.

As for the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) , the survey showed an average 3.85% this week with an average 0.7 point. This was an increase from last week's number of 3.75%. This time last year the 5-year ARM averaged 4.83%.

Lastly, there was an average of 3.74% with an average 0.7 point for the 1-year Treasury indexed ARM. This week's number was a decrease from last week's average of 3.75%. Last year's 1-year ARM averaged 4.76%.

Economists have said that fixed rate mortgages are continuing to stay right around 50-year lows.

30-Year Fixed Rate Mortgage Falls Again According to Freddie Mac's Weekly Survey

by the zac team at Ponce Realty

Greetings neighbors,

Freddie Mac recently released it's weekly Primary Mortgage Market Survey for the week ending July 8th. According to Freddie's survey, the 30-year fixed rate mortgage is continuing to mark an all time low averaging 4.57% with an average 0.7 point which is down from last week's low of 4.58%. Last year's 30-year FRM averaged 5.20%.

As for this week's 15-year FRM, the survey showed an average of 4.07% with an average 0.7 point which is actually up from last week's average of 4.04%. This time last year, the 15-year FRM averaged 4.69%.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) this week averaged 3.75% with a 0.7 point which also showed a decrease from last week's average of 3.79% and last year's average of 4.82%.

Last but not least, the 1-year Treasury-indexed ARM averaged 3.75% with 0.7 point on this week's survey which is also down from last week's average of 3.80% . Last year's average for the 1-year ARM was 4.82%.

With the continuing decline of mortgage rates, refinance activity will become even stronger.

Displaying blog entries 1-3 of 3

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Photo of Zac Pasmanick  Real Estate
Zac Pasmanick
RE/MAX Metro Atlanta Cityside
600 Virginia Avenue NE
Atlanta GA 30306
Office: 404-564-7272

 

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