Mortgage Rates Sink To New Low For 2014

Dated: 08/22/2014

Views: 1560

DAILY REAL ESTATE NEWS | FRIDAY, AUGUST 22, 2014

Despite predictions that mortgage rates were to inch up in the second half of this year, fixed-rate mortgages continue to tumble.

Borrowing costs moved lower this week, as the 30-year fixed-rate mortgage dipped to a 4.10 percent average, Freddie Mac reports in its weekly mortgage market survey. The 30-year fixed-rate mortgages previous low average for the year was 4.12 percent.

30-year fixed-rate mortgages: averaged 4.10 percent, with an average 0.5 point, dropping from last week’s 4.12 percent. Last year at this time, 30-year rates averaged 4.58 percent.
15-year fixed-rate mortgages: averaged 3.23 percent, with an average 0.6 point, dropping from last week’s 3.24 percent average. A year ago, 15-year rates averaged 3.60 percent.
5-year hybrid adjustable-rate mortgages: averaged 2.95 percent, with an average 0.5 point, dropping from last week’s 2.97 percent average. Last year at this time, 5-year ARMs averaged 3.21 percent.
1-year ARMs: averaged 2.38 percent, with an average 0.5 point, rising from last week’s 2.36 percent average. A year ago, 1-year ARMs averaged 2.67 percent.
Source: Freddie Mac

Blog author image

Phil Mount

Phil Mount is an agent at Front Street Brokers in Boise, Idaho. Phil became a licensed REALTOR in August 2009 after a 25 year career as a technology marketing professional. In his first year as an a....

Want to Advertise on this Site?

Latest Blog Posts

Just Listed 2478 Penny Royal Boise Id

https://my.matterport.com/models/An6FnuRAXHF?section=media&mediasection=showcaseTake a tour of this wonder large family home in the above like.  We at Front Street Brokers offer this 3d tour of

Read More

Rare Eagle Home On 18 Acres With Pool And Huge Shop 2074 W Pacific Ridge Dr MLS 98694485

Rare Eagle Home on 1.8 Acres, with Pool, and Huge Shop!2074 W Pacific Ridge Dr – MLS #98694485 Are you looking for the rare and hard to find home close to town, in a great established,

Read More

Open House In Hewett Park Sub Boise Idaho Saturday June 2nd

Open House in Hewett Park Boise Idaho Saturday June 2nd.  B-E-A-utiful, spacious and she'll be available this Saturday, June 2nd for your viewing pleasure! This Boise home has been well taken

Read More

How To Sell Your Idaho Home

http://casasdeidaho.valuedagent.com/purl/sellersI help sellers determine a plan for selling their home. What is the motivation behind the sale of their home and what is their next step? Once we

Read More