Winter Storms Hold Mortgage Rates in Place — New York Real Estate

Winter Storms Hold Mortgage Rates in Place

by Raja Tayeb on March 21, 2010

Mortgage Rates

Interest on 30-year fixed mortgages averaged 4.96 percent this week, barely up from 4.95 percent a week ago, while 15-year rates nudged up to 4.33 percent from 4.32 percent, Freddie Mac reported. Freddie Mac chief economist Frank Nothaft said the virtually unchanged interest on fixed-rate mortgages was the result of the effects of recent snow storms on the housing market.

Also for the week ending March 18:

• Five-year adjustable-rate mortgages rose to 4.09 percent from 4.05 percent.


• One-year ARMs fell to 4.12 percent from 4.22 percent a week ago.

Source: The Wall Street Journal (03/19/10)

Posted via web from New York Real Estate Access | Real Estate Blog

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