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Ryan Minion Gibson City, IL 60936 Phone: (217) 417-3381 Toll Free: (888) 9-MINION Fax: (309) 296-1106 Email: ryan@minionrealestate.com |
NEW RECORD:
Rate for 30-year fixed mortgages is lowest in Freddie Mac's history Saturday, June 26, 2010
The average rate for 30-year fixed loans sank to 4.69 percent from 4.75 percent last week, mortgage company Freddie Mac said Thursday. That's the lowest point since Freddie Mac began tracking rates in 1971. The previous record of 4.71 percent was set in December.Rates for 15-year and five-year mortgages also hit lows. Rates on 15-year fixed-rate mortgages fell to an average of 4.13 percent, the lowest on record dating to September 1991. It was down from 4.2 percent a week earlier. Rates on five-year adjustable-rate mortgages averaged 3.84 percent, down from 3.89 percent a week earlier. That was also the lowest on Freddie Mac's records, dating to January 2005. Average rates on one-year adjustable-rate mortgages fell to 3.77 percent from 3.82 percent, the lowest since May 2004. The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 of a point for 30-year, five-year and one-year loans. The average fee for 15-year loans was 0.6 of a point. Mortgage rates have fallen in the past two months as nervous investors have shifted money into the safety of Treasury bonds. Demand for Treasury bonds has caused Treasury yields to fall, and mortgage rates tend to track the yields on long-term Treasury bonds. Yet the falling rates have yet to spark a home-buying boom -- or energize the economy. New-home sales collapsed in May after home-buying tax credits expired. The economy also remains under pressure from high unemployment. And many people don't qualify under tightened lending rules. Lending activity remains sluggish. The Mortgage Bankers Association's index of mortgage applications fell 5.9 percent in the week that ended June 18. The portion of refinancings slumped 7.3 percent. Applications to purchase a home declined 1.2 percent. New home sales sank 33 percent in May to an annual pace of 300,000, the lowest level on record, the Commerce Department said Wednesday. |
Why List your home wth Minion Real Estate? The Tailored Marketing Plan: This marketing plan is customized to fit your needs and your home's unique features. The Tailored Marketing Plan is not just a sign in the yard. From the first moment a potential home buyer views your home, it will stand out from the rest. Here are some examples of services offered with our Tailored Marketing Plan: • True-Eye Photography: Brilliant exterior photos, crisp and clear interior shots, never a poor exposure. Truly what the "eye" can see. • 360º Virtual Tour: Allow everyone to "see" inside your home without having to make an appointment, bare any bad weather, or make an unnecessary visit. • Intense Internet Presence: From MinionRealEstate.com, Realtor.com, Facebook, Trulia, Google, AOL, Yahoo, several classifieds websites, and too many more to mention! The more potential buyers that see your home, the quicker it will sell. • Professionally Printed Brochures: No black and white copies or laser prints. Our brochures are ordered through a 3rd party service which will present your home to potential buyers in a high-end and professional manner. • Floor Plans: Standard 2D floor plans, 3D floor plans, and computer generated 3D walk-throughs give buyers another viewing option of your home. Thus, every potential buyer who comes to see your home in person has already decided that they like it. • Other services such as Satellite Images, Property Websites, Direct Mail, Brochure Boxes, and More! Contact an Agent for more details today! |
