Memphis' Blog: Interest Rates

Nationwide, 30-year fixed-rate mortgages averaged 6.16%, for the week ending March 29, unchanged from last week's 6.16%.  Last year at this time, the 30-year FRM averaged 6.35%.  The average for the 15-year FRM this week is 5.86%, down from last week’s 5.90%.  One-year “T”ARMs were up at 5.43% and five-year “T”ARMs averaged 5.88% down from last week’s 5.91%.

"Recent data releases sent conflicting signals about the direction of the housing market," said Frank Nothaft , Freddie Mac vice president and chief economist.  "The rise in existing home sales in February to a 6.69 million unit pace, the highest level since last April, offered some hope of firming in housing demand. In contrast, February's new home sales fell unexpectedly to 848,000 units, the…

NEW ECONOMIC NEWS ALLOWS MORTGAGE RATES TO SLIP FOR SECOND WEEK IN A ROW

Nationwide, 30-year fixed-rate mortgages averaged 6.18%, for the week ending March 1, down from last week's 6.22%.  Last year at this time, the 30-year FRM averaged 6.24%.  The average for the 15-year FRM this week is 5.92%, down from last week’s 5.97%.  One-year “T”ARMs were unchanged at 5.49% and five-year “T”ARMs averaged 5.93% down from last week’s 5.96%.

"Mortgage rates drifted lower this week largely on the basis of new economic information suggesting a slower economy and lower inflation," said Frank Nothaft , Freddie Mac vice president and chief economist. "Real GDP growth for the last quarter was revised downward to a 2.2 percent annualized rate, compared to the 3.5 percent…

Nationwide, 30-year fixed-rate mortgages averaged 6.30%, for the week ending February 15, up from last week's 6.28%.  Last year at this time, the 30-year FRM averaged 6.28%.  The average for the 15-year FRM this week is 6.03%, up from last week’s 6.02%.  One-year “T”ARMs were up at 5.59% and five-year “T”ARMs averaged 5.95% down from last week’s 5.99%.

"Mortgage interest rates exhibited little change in the past week according to our weekly Primary Mortgage Market Survey, as there was little new information that would cause any great change," said Frank Nothaft, Freddie Mac vice president and chief economist. "For example, January's retail sales were virtually unchanged from December's level. Further, Fed Chairman Bernanke testified before the Senate…

POSITIVE ECONOMIC NEWS PUSHES MORTGAGE RATES HIGHER: 30-Year Fixed Rate Mortgages Highest In Almost Four Months.

Nationwide, 30-year fixed-rate mortgages averaged 6.28%, for the week ending February 8, down from last week's 6.34%.  Last year at this time, the 30-year FRM averaged 6.24%.  The average for the 15-year FRM this week is 6.02%, down from last week’s 6.06%.  One-year “T”ARMs were up at 5.59% and five-year “T”ARMs averaged 5.99% down from last week’s 6.04%.

"News of moderate employment gains in January led to a halt in the recent upward trend of interest rate movements," said Frank Nothaft , Freddie Mac vice president and chief economist. "The 111,000 jobs added last month were fewer than had been anticipated, while the unemployment rate edged…

POSITIVE ECONOMIC NEWS PUSHES MORTGAGE RATES HIGHER   30-Year Fixed Rate Mortgages Highest In Almost Four Months

Nationwide, 30-year fixed-rate mortgages averaged 6.34%, for the week ending February 1, up from last week's 6.25%.  Last year at this time, the 30-year FRM averaged 6.23%.  The 30-year FRM has not been higher since the week ending October 26, 2006, when it was 6.40 percent.  The average for the 15-year FRM this week is 6.06%, up from last week’s 5.98%.  One-year “T”ARMs were up at 5.54% and five-year “T”ARMs averaged 6.04% up from last week’s 6.00%.

"Interest rates moved higher following the latest upbeat economic news," said Frank Nothaft , Freddie Mac vice president and chief economist.  "The strong 3.5 percent annualized growth in the…

       Memphis Interest Rates  |  Memphis Mortgage Rates

Freddie Mac's Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 6.25 percent with an average 0.4 point for the week ending January 25, 2007, up from the prior week when it averaged 6.23 percent. Last year at this time, the 30-year FRM averaged 6.12 percent.

       The 15-year FRM this week averaged 5.98 percent with an average 0.4 point, unchanged from the previous week when it also averaged 5.98 percent. A year ago, the 15-year FRM averaged 5.70 percent.

       "Mortgage rates were mixed this week on news that December's leading indicators, a measure of future economic activity, signaled steady growth in the coming months," said Frank Nothaft, Freddie Mac vice…

      Freddie Mac's Primary Mortgage Market Survey showed the
30-year fixed-rate mortgage (FRM) averaging 6.11 percent with an
average 0.5 point for the week ending December 7, 2006, down again
from the previous week when it averaged 6.14 percent. Last year at
this time, the 30-year FRM averaged 6.32 percent. This is the lowest
the 30-year FRM has been since the week ending January 19, 2006, when it averaged 6.10 percent.

       The 15-year FRM on Friday averaged 5.84 percent with an
average 0.5 point, also down from the prior week when it averaged
5.87 percent. A year ago, the 15-year FRM averaged 5.87 percent. This
is the lowest the 15-year FRM has been since the week ending February 9, 2006 when it averaged 5.83 percent.

       "Continued…