(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start': new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0], j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src= 'https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f); })(window,document,'script','dataLayer','GTM-5WB8HLVL'); U.S. Mortgage Rates Decrease, Single-Family Home Sales Rise | Hamilton Zanze

U.S. Mortgage Rates Decrease, Single-Family Home Sales Rise

hamilton-zanze July 30, 2013

Agency lender Freddie Mac reports that average mortgage rates on a 30-year fixed loan fell to 4.31% after reaching a high of 4.51% two weeks ago. Although the rate has cooled slightly from that two-year high, it remains nearly 100 basis points higher than it was in early May 2013. For 15-year fixed loans, the rate decreased to 3.39% from 3.41% last week.

Although mortgage rates have risen since the Federal Reserve indicated it could slow its $85 million/month bond purchases, they remain low from a historical perspective. With people taking advantage of the historically low rates, new single-family home sales rose 8.3% nationwide in June to a seasonally adjusted rate of 497,000 annually, the highest level in over five years.

Read the full article at the SF Gate

Print Friendly, PDF & Email