March 04, 2010

Rates Below 5% -- Again!

Mortgage rates ticked down below 5% for the week according to Freddie Mac's weekly survey

Over the last week, 30-year fixed mortgages fell below 5 percent again to match levels seen two weeks ago. This according to Freddie Mac’s weekly Primary Mortgage Market Survey^®. The 30-year fixed-rate mortgage averaged 4.97 percent with an average 0.7 point in loan costs paid to obtain that rate. Last year at this time, the 30-year rate averaged 5.15 percent.

Low mortgage rates “are helping to maintain affordable home-purchase conditions," said Frank Nothaft, Freddie Mac vice president and chief economist.

For first-time homebuyers, the fourth quarter of 2009 was the third most affordable quarter since 1981 behind the first and second quarter of 2009.

Here are the numbers:

Chart

To buy or sell any Flagstaff home, contact me: Ann Heitland at RE/MAX Peak Properties.

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	Latest Freddie Mac Press Release
	Freddie Mac's weekly home loan survey results
	http://www.freddiemac.com/pmms/release.html

by Ann Heitland
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