Long-Term Rates Drop Back a Bit — New York Real Estate

Long-Term Rates Drop Back a Bit

by Raja Tayeb on December 27, 2010

Long Term Mortgage

Long-term mortgage rates dipped a bit in the week before Christmas, according to Freddie Mac. The mortgage giant reported that interest on 30-year, fixed loans averaged 4.81 percent — down from 4.83 percent the week before and 5.05 percent a year earlier.

The 15-year, fixed rate, meanwhile, averaged 4.15 percent compared to 4.17 percent the previous week. Initial interest on five-year adjustable-rate mortgages settled at 3.75 percent, Freddie Mac noted, while one-year ARMs closed the week at an average of 3.4 percent.

Source: Housing Wire, Christine Ricciardi (12/27/10)

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This entry was posted in Foreclosures, Housing Market News Update, mortgage, New York Real Estate and tagged , , , . Bookmark the permalink.

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