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Mortgage Rate Hit All Time Low Last Friday

by the zac team @ RE/MAX Greater Atlanta

Greetings neighbors,

According to recent numbers, mortgage rates dropped to an all time low last Friday. 30-year fixed mortgage rates are now at 4.375% with a 1 point origination which was a decrease from 4.5%. In addition, the 15-year fixed rate dropped from 4% to 3.875%, marking the lowest numbers ever.

The most recent decline in mortgage rates can be credited to a major increase in mortgage-backed security or MBS prices last Friday.

In addition to the FRM's, jumbo mortgage rates also experienced a decline with the 30-year fixed jumbo loan rate for true jumbo loans exceeding conforming "high balance" county loan limits coming in at 5.375% according to a recent write up in Realty Times.

Other rates are as follows: 5/1 ARM rate - 3.500% FHA 30-yr fixed-rate - 4.375% FHA 15-yr fixed-rate - 3.875% FHA 5/1 ARM rate - 3.500% VA 30-yr fixed-rate - 4.625% Jumbo 30-yr fixed-rate - 5.375% Jumbo Conforming 30-yr fixed-rate - 4.625%.

Last Month Produced An Upward Trend In Housing Starts!

by the zac team @ RE/MAX Greater Atlanta

Hello neighbors,

It seems that housing starts have taken a turn for the best especially last month. According to recent data, there has been a trend of increasing housing starts since the beginning of this year.

Last month there was a rise of 1.6% to a seasonally adjusted 626,000 annualized units according to the Commerce Department. In addition to March 2010, February 2010 produced a higher revised number of 616,000 which was up 1.1% from the 570,000 that was previously reported. The first estimate was predicted to be a 5.9% drop.

The increase in starts can be contributed to the Southern region of the country as well as to multifamily starts. There was a drop of 0.9% to 531,000 of single-family homes last month but an increase of 39.7% to 88,000 for multifamily units.

 

 

 

Displaying blog entries 1-2 of 2

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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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