Thursday, May 15, 2014

Third Straight Weekly Decline for Fixed Mortgage Rates

according to the latest data released Thursday by Freddie Mac, mortgage rates fell for the third week in a row. During this week the interest rates declined for most types of mortgage loans. The average rate for 30-year and 15-year, fixed-rate mortgages, including those backed by the Federal Housing Administration, fell to their lowest level since November.

Here's a look at the cost of home loans, all changes are from the week prior:
-- 30-year, fixed-rate mortgages fell to 4.39% from 4.43%.
-- 15-year, fixed-rate mortgages slid to 3.48% from 3.52%.
-- Jumbo-loan rates for a 30-year, fixed-rate mortgage were unchanged at 4.29%.
-- FHA-backed 30-year, fixed-rate mortgages dropped to 4.09% from 4.13%.
-- The one-year ARM average held steady at 2.43 percent with an average 0.5 point, unchanged from a week ago.

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