After six consecutive weeks of reaching all-time record lows, fixed-rate mortgages reversed course this week, starting to inch upwards, Freddie Mac reports in its weekly mortgage market survey.

Despite the slight uptick in fixed-rate mortgages this week, however, rates “remain near historic lows helping to keep home buyer affordability high, and providing a strong incentive for those looking to refinance,” according to Freddie Mac.

Here’s a closer look at rates for the week ending June 14:

  • 30-year fixed-rate mortgages: averaged 3.71 percent, with an average 0.7 point, up from last week’s record setting average of 3.67 percent. A year ago at this time, 30-year rates averaged 4.50 percent.
  • 15-year fixed-rate mortgages: averaged 2.98 percent, with an average 0.7 point, also inching up after its record setting average last week of 2.94 percent. Last year at this time, 15-year rates averaged 3.67 percent.
  • 5-year adjustable-rate mortgages: averaged 2.80 percent this week, with an average 0.6 point, dropping from last week’s 2.84 average. Last year at this time, 5-year ARMs averaged 3.27 percent.
  • 1-year ARMs: averaged 2.78 percent this week, with an average 0.5 point, dropping slightly from last week’s 2.79 percent average. A year ago, 1-year ARMs averaged 2.97 percent.

The author of this article is: realtormag.realtor.org

 See the original post at: http://realtormag.realtor.org/daily-news/2012/06/15/mortgage-rates-end-six-week-streak-record-lows

At GayRealEstate.com, we keep you updated with all the gay realtor, lesbian realtor, gay realty, gay real estate and general real estate news affecting the LGBT community coast to coast, and in your neighborhood.

         Click here for list of gay realtors, lesbian realtors and gay friendly realtors Nationwide.


If you have a real estate story that you’d like to share with us with the gay and lesbian real estate community, please contact us at: manager@gayrealestate.com