According to data published Thursday, today mortgage rate fell for a second straight week, but the housing market is still facing headwinds from the struggling employment situation.
In the 2nd second week of Jan 2011, the average 30-year fixed mortgage interest rate reduced to 4.71. In the prior week the interest rate was 4.77% and in the last year it was 5.06%, according to Freddie Mac. To obtain the new rate 0.8% mortgage amount should be paid.
In the current week, the 15-year fixed mortgage rate was 408% and the average payment was 0.7 point. The rate was 4.13% before current week and in the last year it was 4.45%. 1% if mortgage amount is called A point which is charged as prepaid interest.
Reduction in the mortgage rate could help the housing market, is still in trouble due to persistent employment problem and a huge supply of homes.
In the current week 5-year Treasury-indexed hybrid ARM rate reduced to 3.72% from 3.75% in the prior week, which was 4.32% last year.
In the 2nd second week of Jan 2011, the average 30-year fixed mortgage interest rate reduced to 4.71. In the prior week the interest rate was 4.77% and in the last year it was 5.06%, according to Freddie Mac. To obtain the new rate 0.8% mortgage amount should be paid.In the current week, the 15-year fixed mortgage rate was 408% and the average payment was 0.7 point. The rate was 4.13% before current week and in the last year it was 4.45%. 1% if mortgage amount is called A point which is charged as prepaid interest.
Reduction in the mortgage rate could help the housing market, is still in trouble due to persistent employment problem and a huge supply of homes.
In the current week 5-year Treasury-indexed hybrid ARM rate reduced to 3.72% from 3.75% in the prior week, which was 4.32% last year.
0 comments:
Post a Comment