Saturday, May 10, 2014

Mortgage Rates Reaches New Low for the Year

Mortgage Rates Reaches New Low for the Year
Despite performing far better than anticipated, April jobs numbers weren't enough to prop up fixed mortgage rates this week, market reports show. In its Primary Mortgage Market Survey,
Freddie Mac clocked the 30-year fixed-rate mortgage at an average 4.21 percent (0.6 point), down from 4.29 percent and the lowest level since late last year. A year ago, the 30-year averaged 3.42 percent. The 15-year also moved down. Q 1 Home Values Stagnant: Nationally, housing markets experienced a point-9 percent growth quarter over quarter. The largest gains of growth were out West, which experienced a 1-point 8 percent increase sequentially, learn more.

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