Click Here

REALTORŪ Magazine Online: The real estate professional's business support tool.

OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  January 21, 2011  |   30-Year Mortgage Rates Inch Up
The rates on 30-year fixed mortgages increased slightly this week, with average rates rising 4.74 percent from 4.71 percent the previous week, Freddie Mac reports.

In November, 30-year rates had reached a 40-year low at 4.17 percent but have been inching upward ever since.

Here’s how other rates fared for the week:
  • 15-year loan rates dropped to 4.05 percent from 4.08 percent.
  • 5-year adjustable-rate mortgages averaged 3.69 percent, down slightly from 3.72 percent the previous week.
  • 1-year ARMs were up slightly to 3.25 percent from 3.23 percent last week.


“Mortgage rates were little changed during the holiday week amid reports that inflation remains tame,” says Frank Nothaft, Freddie Mac vice president and chief economist. The housing construction market as well as home builder confidence still remain low, Nothaft notes.

Source: “Tame Inflation Figures Leave Mortgage Rates Mixed,” Freddie Mac (Jan. 20, 2011)

Browse all of today's news
E-mail this page to a friend
Give us feedback


Search news
Launch my search
 
Subscribe to news
Subscribe to News
Daily and weekly real estate news, trends, NAR press releases, convention coverage, plus exclusive features and columns.

RSS Feed
Get the Daily Real Estate News delivered straight to your desktop or news aggregator. (New to RSS? Learn the basics here.)
 
 
SHARE YOUR INSIGHTS
How did you sell it?
Tell us how you overcame hurdles to sell a challenging or very unique listing!