Mortgage Rates Inch Up After Record Streak
Mortgage Rates Inch Up After Record Streak.
Mortgage Rates Inch Up After Record Streak
Following a 13-week record-low streak, 30-year Mortgage Rates—the most popular choice among home buyers—started moving back up this week, according to Freddie Mac’s weekly mortgage market survey. The average 30-year mortgage had dropped or matched record lows in 13 of the last 14 weeks. But this week, mixed economic news prompted mortgage rates to rise higher.
“Recent announcements of additional debt relief for the Eurozone and mixed domestic economic indicators added upward pressure on Treasury yields as well as mortgage rates this week,” says Frank Nothaft, Freddie Mac’s chief economist.
Here’s a closer look at how mortgage rates fared for the week ending Aug. 2:
- 30-year fixed-rate mortgages averaged 3.55 percent, with an average 0.7 point, up from last week’s all-time record average of 3.49 percent. A year ago at this time, 30-year rates averaged 4.39 percent.
- 15-year fixed-rate mortgages averaged 2.83 percent, with an average 0.6 point, also edging up from its all-time low posted last week of 2.8 percent. Last year at this time, 15-year rates averaged 3.54 percent.
- 5-year adjustable-rate mortgages averaged 2.75 percent this week, with an average 0.6 point, up slightly from last week’s 2.74 percent average. Last year at this time, 5-year ARMs averaged 3.18 percent.
- 1-year ARMs averaged 2.7 percent this week, with an average 0.4 point, dropping from last week’s 2.71 average. A year ago, 1-year ARMs averaged 3.02 percent.
Source: Freddie Mac
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.
