Home interest rates

Low home loan rates


mortgage ratesThey did it again. Mortgage rates dipped for the sixth week in a row — just above the 2015 low of 3.59% — thanks to a still-volatile stock market. Meanwhile, a lack of housing inventory is putting the squeeze on potential homeowners who risk being sidelined by increasing home prices and too few homes to choose from.

Freddie Mac’s just-released weekly survey of lenders shows the following average rates for the most popular home loan terms:

  • 30-year fixed-rate mortgages averaged 3.65% with an average 0.5 point for the week ending Feb. 11, 2016. A year ago, the rate averaged 3.69%.
  • 15-year fixed rates averaged 2.95% with an average 0.5 point. The same term priced at 2.99% a year ago.
  • 5-year adjustable-rate mortgages priced at 2.83% with an average 0.4 point. Last year at this time, the same ARM averaged 2.97%.

GET EXPERT ANSWERS TO YOUR MORTGAGE QUESTIONS

Get personalized help from an unbiased mortgage broker. Understand your options and find the best rates.

COMPARE MORTGAGE RATES FOR FREE

See personalized mortgage rates in seconds using our comprehensive mortgage tool.

In a falling rate environment, mortgage rates often adjust more slowly than capital market rates, and the early 2016 flight-to-quality has run true to form, ” Sean Becketti, chief economist for Freddie Mac, said in a release. “The 30-year mortgage rate has dropped 36 basis points since the start of the year, while the yield on the 10-year Treasury has dropped 59 basis points over the same period. If Treasury yields were to hold at current levels, mortgage rates might well sink a little further before stabilizing.”

FreddieMacFeb11Mortgage applications rose 9.3% for the week ending Feb. 5 from the week prior, according to the Mortgage Bankers Association weekly report.

Purchase applications were up 0.2%, as refi applications soared by 16%. Overall, home purchase loan applications remain 25% higher than the same week one year ago.

Low inventory creating bottleneck for potential buyers

Hopeful homebuyers are becoming increasingly sidelined by a lack of available homes on the market, and it’s a problem that’s here to stay, according to a new report from the National Association of Realtors.

Fewer homes on the market pushed the median existing single-family home price up in 81% of measured markets, with 145 out of 179 metro housing markets showing increases based on fourth-quarter closings, the association reported.

That means housing options are shrinking, which is sidelining a lot of potential buyers, said Lawrence Yun, NAR chief economist, in a release.



Share this article





Related Posts


20 Year home loan rates
20 Year home loan rates
Interest rates home loan
Interest rates home loan
Home Loans, mortgage rates
Home Loans, mortgage rates

Latest Posts
Obama Home Loan Program
Obama Home Loan…
Making Home Affordable is the government…
Different Mortgage Loans
Different Mortgage…
What are the different types of mortgage…
Alaska USA mortgage Rates
Alaska USA mortgage…
Insuring motorhomes, recreational vehicles…
Lowest 5 Yr fixed rate mortgage
Lowest 5 Yr fixed…
I must be mad, because after multiple…
Federal home Buying programs
Federal home…
The Teacher Next Door program was designed…
Search
Featured posts
  • 20 Year home loan rates
  • Interest rates home loan
  • Home Loans, mortgage rates
  • About Home Loans
  • Alaska Home loan
  • Home Loans Government
  • Different Home loan options
  • Types of Home Loans Available
  • International Home Loans
Copyright © 2021 l www.scarredforlife.info. All rights reserved.