I have mixed thoughts when I share Freddie Mac’s PMMS graphs – mainly because it’s old news. This is data that was reported from last week. So it doesn’t really matter if last week, the average rate for a 30 year conventional fixed rate was under 4.000%, if rates are higher or lower now. Unless you locked in the rate last week, you are subject to what rates are available currently .
With that said, I do like to share Freddie Mac’s graph’s as it does show where mortgage rates have been over the last year.
Per Freddie Mac’s survey, mortgage rates for the 30 year fixed averaged 3.98 with 0.6 points. This is slightly lower than the previous week and lower than the 4.12 compared to this time last year.
As I write this post at 11:25 am on July 30, 2015, I’m quoting:
3.875% (apr 4.024%) priced with 1.179 points for a 30 year fixed conventional.
Rate quoted above is based on a 30 year fixed conventional mortgage with a sales price of $500,000, 20% down payment with a loan amount of $400,000. Home buyers have excellent credit with scores of 740 or higher and the purchase in greater Seattle has a closing date of September 4, 2015 or before. Rates quoted are subject to credit approval and may (will) change at anytime. Click here if I can provide you with a current rate quote for your home located anywhere in Washington state.
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