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Home Loan Rates for Real Estate Property
Interest rates on mortgages have decreased for the last five weeks and now the 30 year fixed rate loan is below 5 percent to the lowest level in the year.
Freddie Mac announced that the 30-year fixed-rate mortgage (FRM) averaged 4.93 percent with an average 0.7 point for the week down from last week when it averaged 5.00 percent. Last year at this time, the 30-year FRM averaged 4.86 percent. The 30-year FRM has not been lower since the week ending December 10, 2009, when it averaged 4.81 percent.
The 15-year FRM averaged 4.30 percent with an average 0.6 point, down from last week when it averaged 4.36 percent. A year ago at this time, the 15-year FRM averaged 4.52 percent. The 15-year FRM has not been lower since the week ending December 3, 2009 when it averaged 4.27 percent.
The Freddie Mac survey assumes that borrowers have good credit and make a down payment of at least 20 percent or have an equivalent amount of equity in their homes if they are refinancing.
Read Freddie Mac’s announcement: Rates at Lowest Level of the Year
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Home Loan Rates Decline to Lowest Level in the Year is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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