John's Florida Real Estate Blog

head_left_image

For the Third Week, Mortgage Rates Slightly Increase

Up Arrow - JTEToday, 5/14/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3.85% up from 3.80% last week. The average interest rate for 15 year fixed-rate mortgages was 3.07%, up from 3.02% last week. A year ago the 30 year rate was 4.20%.

Freddie Mac's spokesperson said, "Mortgage rates rose for the third consecutive week as 10-year Treasury yields continued to climb. The labor market continues to improve with the U.S. economy adding 223,000 jobs in April 2015, a solid rebound from merely 85,000 job gains in March. Also, the unemployment rate dipped to 5.4 percent in April as the participation rate ticked up to 62.8 percent and jobless claims were far less than expected."

This is definitely a lot of positive news for our country. Can you remember what the unemployment figure was before Obama took office? Though it always amazes me that when the economy does well the interest rates go up. In any case, they are still very low so it is still an excellent time to buy a home. But inventories in many areas area low, so don't sit on the fence too long.

Do keep in mind that we are a very large country, So figures that come out for the entire nation, may have little or no relevance for your particular area. In the end, it is best if you speak with a local REALTOR or financing expert to see what the situation is for your part of the United States. Florida is not Michigan, nor is Maine the same as California. Market conditions can be very different from place-to-place. Also, your own credit history, the property you want to buy, etc. will effect your specific loan options and interest rates. Your mortgage broker or bank loan officer can give you more specific information.

If you want to learn more about Freddie Mac or see the details of their survey, go to: www.freddiemac.com and click on the link for "Current Weekly Survey". They break down the survey by specific regions in the United States so you can see how your state compares to other parts of the country. They also explain the mission of Freddie Mac and offer a lot of useful information for consumers.

If you would like to speak with a local lender you can find several at my website: www.jelwell.century21bnr.com

You can also contact your own bank, credit union, or mortgage broker to see what your particular interest rate would be, should you decide to finance a home purchase.

I would also be happy to assist you in any way that I can. Just call JOHN ELWELL - REALTOR at CENTURY 21 Bill Nye Realty, Inc. in Zephyrhills, Florida: 813-783-4444 or e-mail me at: jelwell1@tampabay.rr.com You are also welcome at my webpage: www.jelwell.century21bnr.com Licensed in Florida.

John Elwell - REALTOR

CENTURY 21

Bill Nye Realty, Inc.

813-783-4444

Licensed in Florida

 

Comment balloon 0 commentsJohn Elwell • May 14 2015 03:17PM
For the Third Week, Mortgage Rates Slightly Increase
share
Today, 5/14/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 85% up from 3. 80% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 07%, up from 3. 02% last week. A… more
Another Week of Minor Hikes in Mortgage Interest Rates
share
Today, 5/7/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 80% up from 3. 68% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 02%, up from 2. 94% last week. A year… more
Average mortgage interest rates little changed this week!
share
Today, 4/16/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 67% up from 3. 66% last week. The average interest rate for 15 year fixed-rate mortgages was 2. 94%, up from 2. 93% last week. A… more
Due to Good Economic News Mortgage Interest Rates Rise this Week
share
Today, 3/12/2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 86% up from 3. 75% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 10%, up from 3. 37% last week. A… more
Easter Seals Yard Sale at CENTURY 21 Bill Nye Realty - March 28, 2015
share
more
After a Week of Increases, Mortgage Interest Rates Fall Again
share
Today, 2/5//2015, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 59% down from 3. 66% last week. The average interest rate for 15 year fixed-rate mortgages was 2. 92%, down from 2. 98% last week. A… more
55+ Housing Market is one of the Strongest in the Country
share
LAS VEGAS – Jan. 23, 2015 – The 55+ housing market fared quite well in 2014, and 2015 should be no different, according to industry experts at a press conference held today at the National Association of Home Builders (NAHB) International Builders'… more
Pigs n Z'Hills BBQ & Music Festival in Zephyrhills, FL on 1/17…
share
This annual event has only become more and more popular each year. We have great weather in January, and this is a perfect venue for the family and your friends to have a great day together. Admission is free and parking is cheap. This year… more
At Christmas 2014 Mortgage Interest Rates Remain Very Low
share
Today, 12/24//2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 83% up from 3. 80% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 10%, up from 3. 09% last week. A… more
After Last Week's Increase, Mortgage Interest Rates Drop to New Lows!
share
Today, 12/18//2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 3. 80% down from 3. 93% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 09%, down from 3. 30% last week… more