John's Florida Real Estate Blog


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: 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:

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: You are also welcome at my webpage: Licensed in Florida.

John Elwell - REALTOR


Bill Nye Realty, Inc.


Licensed in Florida


Comment balloon 0 commentsJohn Elwell • May 14 2015 03:17PM


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