Search This Blog

Saturday, October 6, 2018

Los Angeles County Mortgage Rates Drop Slightly for First Time in 5 Weeks #TimeToBuy #ChrisBJohnsonRealtor #HyperLocal

Los Angeles County Mortgage Rates Drop Slightly for First TimeIn 5 Weeks #TimeToBuy #ChrisBJohnsonRealtor #HyperLocal: #5StarREALTOR®,Your BEST CHOICE FOR A REALTOR® IN LOS ANGLES & VENTURA COUNTY CA, Luxury Home Specialist, Certified Xome Auction Luxury REALTOR® REO...
BY 
Real Estate Agent with Allison James Elite CA. BRE 01501699
 
Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve......
Borrowers saw a slight cool down in mortgage rates this week following last week’s seven-year high. The 30-year fixed-rate mortgage dipped for the first time after five consecutive weeks of increases, averaging 4.71 percent.
But the higher rates may be deterring some would-be home buyers. “The strength in the economy has failed to translate to gains in the housing market as higher mortgage rates have contributed to the decrease in home purchase applications, which are down from a year ago,” says Sam Khater, Freddie Mac’s chief economist. “With mortgage rates expected to track higher, it’s going to be a challenge for the housing market to regain momentum.”
Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 4:
  • 30-year fixed-rate mortgages: averaged 4.71 percent, with an average 0.4 point, falling slightly from last week’s 4.72 percent average. Last year at this time, 30-year rates averaged 3.85 percent.
  • 15-year fixed-rate mortgages: averaged 4.15 percent, with an average 0.4 point, decreasing from last week’s 4.16 percent average. A year ago, 15-year rates averaged 3.15 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 4.01 percent, with an average 0.3 point, rising from last week’s 3.97 percent average. A year ago, 5-year ARMs averaged 3.18 percent.
  • Weekly Mortgage Rate Update

     
  •  
POSTED BY