Freddie Mac Rates Fall To Lowest Level In 2014

Dated: May 8 2014

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Mortgage rates fell once again and this time to the lowest level since Nov. 7, 2013, as the economic growth for the first quarter came in well below market expectations.

The latest Freddie Mac Primary Mortgage Market Survey recorded an average 30-year, fixed-rate mortgage of 4.21% for the week ending May 8, continuing to fall from 4.29% a week ago, but up from 3.42% a year earlier.

The 15-year FRM fell to 3.32%, compared to 3.38% a week ago and 2.61% in 2013.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage remained frozen at 3.05%, but up from 2.58% last year.
The 1-year Treasury-indexed ARM declined to 2.43% this week, compared to 2.45% last week and 2.44% for the same period in 2013.

“Mortgage rates continued moving down following the decline in 10-year Treasury yields after a dismal report on real GDP growth in the first quarter,” Frank Nothaft, vice president and chief economist with Freddie Mac, said. Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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