Mortgage Rates Below 4%

Fixed-rate mortgages dropped to near yearly lows again this week, lowering borrowing costs for home buyers and refinancers. The 30-year fixed-rate mortgage averaged 3...

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Mortgage Rates Below 4%

Posted by Danny Force on Monday, November 24th, 2014 at 12:34am.

Fixed-rate mortgages dropped to near yearly lows again this week, lowering borrowing costs for home buyers and refinancers. The 30-year fixed-rate mortgage averaged 3.99 percent this week, according to Freddie Mac reports.

“If you are planning to buy a home in the next year, it’s better to do it sooner rather than later,” Frank Nothaft, Freddie Mac’s chief economist, said in the video commentary embedded here.

Freddie Mac reported the following national averages with mortgage rates for the week ending Nov. 20:

  • 30-year fixed-rate mortgages averaged 3.99 percent, with an average 0.5 point, dropping from last week’s 4.01 percent average. The 30-year fixed-rate mortgage dipped to 3.97 percent in mid-October, its lowest average so far this year.
  • 15-year fixed-rate mortgages averaged 3.17 percent, with an average 0.5 point, decreasing from last week’s 3.2 percent average. A year ago, 15-year rates averaged 3.27 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.01 percent, with an average 0.5 point, falling slightly from last week’s 3.02 percent average. A year ago, 5-year ARMs averaged 2.95 percent.
  • 1-year ARMs averaged 2.44 percent, with an average 0.4 point, inching up slightly from last week’s 2.43 percent average. Last year at this time, 1-year ARMs averaged 2.61 percent.

If you're in the market to buy a home, contact me TODAY to get you set up with a lender who truly takes care of your needs.


Danny Force, Realtor
DFW Legacy Real Estate Group
613 N. Walnut St.
Roanoke, TX 76262
C: 817-903-5442
danny@dannyforce.com

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