VISION MIAMI - Mortgage Rates Reverse Course on Positive Housing Data

Mortgage Rates Reverse Course on Positive Housing Data

News Facts

30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, up from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.80 percent.

15-year FRM this week averaged 3.24 percent with an average 0.8 point, up from last week when it averaged 3.17 percent. A year ago at this time, the 15-year FRM averaged 4.09 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.85 percent this week, with an average 0.7 point, up from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.70 percent.

1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.6 point, matching last week when it averaged 2.74 percent. At this time last year, the 1-year ARM averaged 3.26 percent.

According to Frank Nothaft, vice president and chief economist, Freddie Mac:

"Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period."

WINDMILL RANCHES | Weston
AMAZING opportunity!! Just listed back on the market at an incredible new price. Spectacular Key West style house, top of the line...

Today's Real Estate News and Advice Updated: Saturday, May 19, 2012

Fixed Mortgage Rates Hit Record Lows Again
In Freddie Macs results of its Primary Mortgage Market Survey, average fixed mortgage rates aga...
> Full Story

Why Host an Open House?
Open houses are not the best vehicles for selling homes. So why do Real Estate Agents bother wi...
> Full Story

Housing Market Bottoming Out? Renting Market Accelerating
Are we really poised for a recovery in the housing market? The latest encouraging words from th...
> Full Story