WASHINGTON (AP) – Aug. 15, 2014 – Average long-term U.S. mortgage rates declined this week, approaching their lows for the year.
Mortgage company Freddie Mac said Thursday the nationwide average for
a 30-year loan slipped to 4.12 percent from 4.14 percent last week. The
average for a 15-year mortgage, a popular choice for people who are
refinancing, fell to 3.24 percent from 3.27 percent last week.
Mortgage rates are below the levels of a year ago. They have fallen
in recent weeks after climbing last summer when the Federal Reserve
began talking about reducing the monthly bond purchases it was making to
keep long-term borrowing rates low.
Mortgage rates often follow the yield on the 10-year Treasury note.
The 10-year note traded at 2.42 percent Wednesday, brushing its low for
the year of 2.41 percent and down from 2.47 percent a week earlier. It
fell to 2.38 percent in trading Thursday morning.
At 4.12 percent, the rate on a 30-year mortgage is down from 4.53
percent at the start of the year. Rates have fallen even though the Fed
has been trimming its monthly bond purchases, which are intended to keep
long-term borrowing rates low. The purchases are set to end in October.
My focus is to best
understand the goals and visions of my clients, ensuring all decisions are made
with a wealth of information and the necessary tools for a successful,
I have found my “Slice of Heaven” I look
forward to you finding yours!
One sentence says it all: "Working from sign up till sign down...." We provide the best possible service to our clients with respect to buying or selling real estate, marketing, advertising, follow-up and negotiating the sale or purchase of your dream home.
CoreLogic Chief Economist, Frank Nothaft, noted, “January marke
"This is an absolutely outstanding gifted woman. She was on top of things from the moment we started the process till we ended. Could not have asked for a better agent. We felt we made a new friend and will always cherish our experience and look forward to referring her to others. Sue"