Mortgage rates dip below 5 percent again

The 30-year fixed-rate mortgage (FRM) averaged 4.97 percent this week, down from last week’s 5.01 percent and 5.16 percent last year at this time, Freddie Mac reported today.

The 15-year FRM slipped to 4.34 percent from 4.40 percent the previous week and 4.81 a year ago.

The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 4.19 percent in comparison with 4.27 percent a week ago and 5.23 percent one year earlier.

As for the one-year Treasury-indexed ARM, it went up to 4.33 percent from 4.22 percent last week. But it was 4.94 percent last year.  Commented Chief Economist Frank Nothaft:

“In mid-June of last year. . . 30-year fixed-mortgage rates topped nearly 5.6 percent. Currently, the monthly payments would be almost $77 per month lower on a $200,000 loan balance.”

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Malcolm Carter
Licensed Associate Real Estate Broker
Senior Vice President
Charles Rutenberg Realty
127 E. 56th Street
New York, NY 10022

M: 347-886-0248
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Malcolm@ServiceYouCanTrust.com
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