Mortgage Rates Still at Extreme Lows

Freddie Mac’s weekly survey of mortgage rates show that interest rates are still at extremely low levels although I have noticed rates bouncing around a bit more this past week.

From Freddie Mac’s press release:

“Despite the recession, the very low mortgage environment has spurred many first-time homebuyers to jump into the real estate market,” said Sam Khater, Freddie Mac’s Chief Economist. “In August, first-time homebuyer activity rose 19 percent from July to the highest monthly level ever for Freddie Mac. The first-time homebuyer driven rebound in the housing market has come at a critical time for the economy.”

Please remember, these rates are an average from last week, in other words, they are old news. Mortgage rates change throughout the day, sometimes several times as mortgage rates are based on bonds (mortgage backed securities). Click here for current rates for your Washington home.

If you are interested in refinancing or buying your first, move-up, move-down, investment or second home located anywhere in Washington state, please contact me! My team and I are happy to help you. Click here to start the preapproval process for your refi or home purchase. 

 

Comments

  1. Avatar Diane Kawell says

    Hi Rhonda – are 15 yr refi rates same as purchase loan?

    • Hi Diane, the rates posted are averages from the previous week so they may not be the same as what is currently available. The 15 year rates should be the same for purchase or refi (or at least close – since it’s based on a survey/average).

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