Excerpt from: Flagstaff Mortgages
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| January 22, 2010 | | Freddie Mac’s Weekly Survey shows home loan rates below 5% again | The weekly Freddie Mac Primary Mortgage Market Survey released yesterday shows home loan rates for the prior week dipped below 5% again. With the storm going on in Flagstaff, I received no updates from local mortgage lenders this week, but my guess is that if you could see a home in Flagstaff this week, you could get an interest rate below 5%. When the stock market is bad, as it was this week, it’s good for rates. Slow activity in the housing market and a bad report on housing starts also contribute to the lower rates. (On the other hand, building permits jumped according to the U.S. Commerce Department.)
According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.99 percent with an average 0.7 point for the week ending January 21, 2010, down from last week when it averaged 5.06 percent. Last year at this time, the 30-year FRM averaged 5.12 percent.
Here are the numbers:
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