Mortgage Rate Update
by Osman Parvez
Freddie Mac released its mortgage market survey (PMMS) today. 30 YR fixed rates averaged 6.26% with 0.5pt, down for a second week in a row from 6.28% the previous week. 5 YR ARMS averaged 5.76% with an average 0.6 points, up a slight 0.01% from the previous week.
“Mortgage rates are in a holding pattern at the moment as financial markets try to discern where inflation and growth in the economy are headed,” said Frank Nothaft, Freddie Mac’s vice president and chief economist. “Until the market decides these issues, mortgage rates should stay within a relatively narrow band.”
“Current low mortgage rates, coupled with the higher 2006 conforming loan limits of $417,000, should help to keep the mortgage industry bustling as we head into the new year.”
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Like this analysis? Subscribe to my research. Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
As always, your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
Mortgage Rate Update
by Osman Parvez
Freddie Mac released its mortgage market survey (PMMS) today. 30 YR fixed rates averaged 6.26% with 0.5pt, down for a second week in a row from 6.28% the previous week. 5 YR ARMS averaged 5.76% with an average 0.6 points, up a slight 0.01% from the previous week.
“Mortgage rates are in a holding pattern at the moment as financial markets try to discern where inflation and growth in the economy are headed,” said Frank Nothaft, Freddie Mac’s vice president and chief economist. “Until the market decides these issues, mortgage rates should stay within a relatively narrow band.”
“Current low mortgage rates, coupled with the higher 2006 conforming loan limits of $417,000, should help to keep the mortgage industry bustling as we head into the new year.”
—
Like this analysis? Subscribe to my research. Ready to buy or sell? Click HERE to schedule an appointment or call 303.746.6896.
As always, your referrals are deeply appreciated.
The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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