John's Florida Real Estate Blog

head_left_image

Mortgage Interest Rates Relatively Unchanged for Labor Day 2014

Percent Sign - JTEToday, 8/28/2014,  Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4.10% unchanged from last week. The average interest rate for 15 year fixed-rate mortgages was 3.25%, up a little from 3.23% last week. A year ago the 30 year rate was 4.51%.

Though no big changes, the rates remain VERY low. But so are inventories. So that can make prices rise. Sometimes a bit of a trade-off.

Freddie Mac's spokesperson said, "Mortgage rates were little changed following mixed housing news. Existing home sales rose for the fourth consecutive month to an annualized pace of 5.15 million, the highest of the year. On the other hand, new home sales fell for the third consecutive month to an annualized rate of 412,000 units. Also, the S&P/Case-Shiller national home price index confirmed the slowing in national house-price appreciation that has occurred in other metrics, with the seasonally-adjusted national index down 0.1 percent in June but on a year-over-year basis up a solid 6.2 percent."

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 • August 28 2014 04:06PM
Mortgage Interest Rates Relatively Unchanged for Labor Day 2014
share
Today, 8/28/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4. 10% unchanged from last week. The average interest rate for 15 year fixed-rate mortgages was 3. 25%, up a little from 3. 23% last… more
Mortgage Rates Slip Slightly Lower this Week. Just Slightly!
share
Today, 8/21/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4. 10% down a tad from 4. 12% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 23%, down a little from 3… more
2014-15 School Year Begins in Florida on August 18th! Drive with Care!
share
On Monday, August 18th, students and teachers will return to their classes in the public schools of Pasco County, Florida for the 2014-2015 academic year. I suspect that this will be the case in nearly every county in the State of Florida. … more
Another Week with Only Small Changes to Mortgage Interest Rates
share
Today, 8/14/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4. 12% down a tad from 4. 14% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 24%, down a little from 3… more
2014 Truth in Millage Property Tax Forms Arrive in Florida this Week!
share
When I opened my mailbox today (8/14/2014) I found a letter from Mike Wells the Pasco County Property Appraiser where I live, telling me what my proposed property taxes for 2014 would likely be. Probably most of Florida's residents are also… more
Wesley Chapel, Florida to Host a Jazz Festival on August 30, 2014
share
For those of you who are lovers of good jazz, we will have a local venue that will permit you to enjoy a bit of it right here in central Pasco County. This event will take place at Boyette Park on Saturday, August 30th. And best of all: IT'S FREE!.. more
John's August 2014 Florida Newsletter is Now Available for You!
share
My August 2014 Real Estate Newsletter is now available for download as a PDF ( Adobe Acrobat ) file that all computers should be able to open. Just click on the following link to download this month's newsletter: Download August-2014… more
Home Financing Interest Little Changed this Week - Little Changed!
share
Today, 8/7/2014, Freddie Mac reported that the average mortgage interest rate for 30 year fixed-rate mortgage was 4. 14% up a tad from 4. 12% last week. The average interest rate for 15 year fixed-rate mortgages was 3. 27%, up a little from 3. 23%… more
Houses, Villas, and Condos for Sale in Zephyrhills, FL as of 8-4-2014
share
If you are looking for your place under the Florida sun, Zephyrhills could be just the spot that you are searching for. Cold winds will soon be blowing up north. Are you ready for the ice and snow??? Those are no problem here. Or perhaps you… more
Mobile Homes For Sale with Lots in Zephyrhills, Florida as of 8-4-2014
share
Want to find a place where you can escape winter's icy blasts or just a place to live in year round? Well, Zephyrhills, Florida might be just the perfect corner of the USA where you can find a refuge from the snowing and blowing. Even though… more