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Kenton Becker

Kenton Becker,
Sr. Loan Officer
Phone: 206-686-8822
Cell: 206-423-2552
Fax: 206-309-4736
MLO/NMLS #123961
Email Me

22525 SE 64th Place
Suite 220
Issaquah, WA 98027

 

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30-Year Fixed-Rate Mortgage
Unchanged for Third Consecutive Week

Freddie Mac (OTC: FMCC) released the results of its Primary Mortgage Market Survey(R) (PMMS®), showing average fixed mortgage rates unchanged from the previous week and remaining near their record lows as they continue to support housing demand, translating into a pick-up in home prices in most markets.

  • 30-year fixed-rate mortgage (FRM) averaged 3.53 percent with an average 0.8 point for the week ending February 14, 2013, the same as last week. Last year at this time, the 30-year FRM averaged 3.87 percent.
  • 15-year FRM this week averaged 2.77 percent with an average 0.8 point, the same as last week. A year ago at this time, the 15-year FRM averaged 3.16 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.64 percent this week with an average 0.6 point, up from last week when it averaged 2.63 percent. A year ago, the 5-year ARM averaged 2.82 percent.
  • 1-year Treasury-indexed ARM averaged 2.61 percent this week with an average 0.3 point, up from last week when it averaged 2.53 percent. At this time last year, the 1-year ARM averaged 2.84 percent.
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Attributed to Frank Nothaft, Freddie Mac vice president and chief economist.

"Mortgage rates remain near record lows and continue to support housing demand, translating into a pick-up in home prices in most markets. The median sales price of existing homes rose 10 percent between fourth quarter 2011 and 2012, the largest year-over-year gain in seven years. Among large metropolitan areas, 88 percent saw positive annual increases in the fourth quarter, compared to 81 percent in the third quarter and 75 percent in the second. The largest gains occurred in Phoenix (34 percent), Detroit (31 percent) and San Francisco (28 percent)."

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Equal Housing Opportunity Lender. Not a commitment to lend. The accuracy of all information, regardless of source, is not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Land Home only conducts business in states we are approved to.Source: http://freddiemac.mwnewsroom.com/press-releases/30-year-fixed-rate-mortgage-unchanged-for-third-co-otc-fmcc-986072 Land Home Financial Services 22525 SE 64th Place, Suite 220, Issaquah, WA 98027. Washington Consumer Loan Branch License #CL-89331. NMLS #89331. Date: 2-19-13
 

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