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2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
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Mortgage Rates Retreat To 6-Week Low

McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.

The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.

The average rate for 30-year fixed-rate mortgages was 5 percent this wee

The average rate for 30-year fixed-rate mortgages was 5 percent this week

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers.

The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.

The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
This week, the average rate on a 15-year fixed-rate mortgage was 4.36 percent, down from last week when it averaged 4.39 percent.
Rates on five-year, adjustable-rate mortgages averaged 3.97 percent, down from 4 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.07 percent from 4.25 percent.
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, 15-year, and 5-year loans, and 0.6 of a point for 1-year loans.
Freddie Mac: Mortgage rates sink to 6-week low
McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.
The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.
Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent

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Interest Rates Edge Above 5%

You can expect higher rates in the next 30-45 days, say 61% of the experts polled by Bankrate.com last week. But only 8% foresee no change, and almost one-third (31%) predict a drop.
_________________________________________________________________________________

McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.

The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.

Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.

Interest Rates Move Higher

Interest Rates Move Higher

The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.

Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.

The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.

The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgagesMcLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 point for 30-year loans. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

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Signaling Confidence, Fed Holds Rates Steady

Signaling Confidence, Fed Holds Rates Steady
In an announcement that should bolster the housing industry, the Federal Reserve said Wednesday that it intended to keep key lending rates near zero “for an extended period” and continue to buy mortgage-backed securities and debt through March 2010.
That’s the second time the Fed has decided to stretch out its program to encourage spending and stimulate the economy.
Economists predict that the Fed will keep the key lending rate near zero into the first quarter of next year. Holding that rate low means that consumer loans, including mortgages, home-equity loans, and credit-card rates, remain at the lowest point in decades.
Greg McBride, senior financial analyst at Bankrate.com, warned that these low rates will eventually head higher and said home owners interested in refinancing should realize that “it could be a different story 12 months from now,” with much higher rates for 30-year fixed-rate mortgagesSignaling Confidence, Fed Holds Rates Steady
In an announcement that should bolster the housing industry, the Federal Reserve said Wednesday that it intended to keep key lending rates near zero “for an extended period” and continue to buy mortgage-backed securities and debt through March 2010.
That’s the second time the Fed has decided to stretch out its program to encourage spending and stimulate the economy.
Economists predict that the Fed will keep the key lending rate near zero into the first quarter of next year. Holding that rate low means that consumer loans, including mortgages, home-equity loans, and credit-card rates, remain at the lowest point in decades.

Record low interest rates make it a great time to finance your new island home. A number of lending institutions are promoting 30-year fixed rates under 5%.
__________________________________________________________________________________

Jeannine Aversa – The Associated Press (09/23/2009)

In an announcement that should bolster the housing industry, the Federal Reserve said Wednesday that it intended to keep key lending rates near zero “for an extended period” and continue to buy mortgage-backed securities and debt through March 2010.

That’s the second time the Fed has decided to stretch out its program to encourage spending and stimulate the economy.

Economists predict that the Fed will keep the key lending rate near zero into the first quarter of next year. Holding that rate low means that consumer loans, including mortgages, home-equity loans, and credit-card rates, remain at the lowest point in decades.

Greg McBride, senior financial analyst at Bankrate.com, warned that these low rates will eventually head higher and said home owners interested in refinancing should realize that “it could be a different story 12 months from now,” with much higher rates for 30-year fixed-rate mortgages.


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