Low Mortgage Rates in Oxford Michigan Are Lingering

This weeks mortgage article from RealtorMag, Low Mortgage Rates Are Lingering, discusses continued yearly lows…

The average percentage rates for fixed-rate mortgages inched up slightly this week, but continue to hover near yearly lows.

Mortgage Rates’ Impact:

• These Analysts Are Still Bullish on Housing
• Economists Grow More Optimistic About Housing’s Outlook
• Understanding and Combatting the Rate Lock-in Threat

Freddie Mac reports the following national averages with mortgage rates for the week ending Sept. 11:

• 30-year fixed-rate mortgages: averaged 4.12 percent, with an average 0.5 point, up slightly from last week’s 4.10 percent average. Last year at this time, 30-year fixed-rate mortgages averaged 4.57 percent.
• 15-year fixed-rate mortgages: averaged 3.26 percent, with an average 0.5, rising from last week’s 3.24 percent average. A year ago, 15-year fixed-rate mortgages averaged 3.59 percent.
• 5-year hybrid adjustable-rate mortgages: averaged 2.99 percent, with an average 0.5 point, rising from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.22 percent.
• 1-year ARMs: averaged 2.45 percent, with an average 0.4 point, rising from last week’s 2.40 percent average. A year ago, 1-year ARMs averaged 2.67 percent.

Source: freddie mac

Donald Horne, Team Success Listing
Associate Broker for Coldwell Banker Shooltz Realty
810-338-0628  donaldhorne.realtor@gmail.com