This entry was posted on Friday, November 6th, 2009 at 11:47 am and is filed under Business, Government Issues, Home Financing News, Homeowner Services, New Home News, North Carolina Living, Triangle Info. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
November 6, 2009
The average rate for 30-year fixed-rate mortgages fell back below 5 percent last week, according the weekly rate report from Freddie Mac.
The average rate dropped to 4.98 percent, from 5.03 percent the previous week. One year ago, 30-year mortgages averaged 6.20 percent.
15-year fixed-rate mortgages also fell to an average of 4.4 percent this week, again besting one-year adjustable-rate mortgages, which currently average 4.47 percent
Freddie Mac attributes the reductions to strong refinancing activity in the first three quarters of this year.