Beleive it or not, but mortgage rates are down again. Five year ARMS average less than 4% interest. How much longer this mortgage rate decline will go, nobody knows.
Home-mortgage rates fell this week along with bond yields, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 4.72 percent, down from 4.79 percent a week ago; while rates on 15-year fixed-rate mortgages fell to another record low of 4.17 percent from 4.2 percent. Also, the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.92 percent, down from 3.94 percent last week. Finally, one-year Treasury-indexed ARMs fell to a new six-year-low of 3.91 percent, compared with 3.95 percent a week ago.Source: Wall Street Journal, Nathan Becker 06/11/10
via REALTOR® Magazine-Daily News-30- and 15-Year Rates Move Down.
