Mortgage Rates Hover Near All-Time Low – Chuck Barberini

Mortgage Rates Hover Near All-Time Low – Chuck Barberini

Chuck Barberini Real Estate – Barberini Robinson Real Estate Group

http://barberinico.com/mortgage-rates-all-time-low/

Here is a short article on Mortgage Rates from Daily Real Estate News. Rates approach a near all-time low, currently average rates are at 3.48%, 17 basis points above an all-time low of 3.31% from November of 2012. I mention in a previous post that the lower interest rates have led to an increase in underwriting scrutiny. Regardless of how difficult the process currently is, if you currently are in a FHA loan and have been paying Mortgage Insurance for any length of time you should contact your loan agent to see if you can refinance your home. Click the link at the bottom of the page to see the current rates. Check out this short article and let me know what you think. Chuck

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Mortgage Rates Hover Near All-Time Low

DAILY REAL ESTATE NEWS | FRIDAY, JULY 01, 2016

Fixed-rate mortgages this week dropped to their lowest averages of the year, which analysts attribute to the fallout from last week’s “Brexit” vote. The 30-year fixed-rate mortgage averaged 3.48 percent this week, only 17 basis points from its all-time record low of 3.31 percent in November 2012, Freddie Mac reports.

Read more: ‘Brexit’ Could Give U.S. Real Estate Brief Boost

“In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “This extremely low mortgage rate should support solid home sales and refinancing volume this summer.”

Freddie Mac reports the following national averages for the week ending June 30:

  • 30-year fixed-rate mortgages:averaged 3.48 percent, with an average 0.5 point, falling from last week’s 3.56 percent average. Last year at this time, 30-year rates averaged 4.08 percent.
  • 15-year fixed-rate mortgages:averaged 2.78 percent, with an average 0.4 point, dropping from last week’s 2.83 percent average. Last year at this time, 15-year rates averaged 3.24 percent.
  • 5-year hybrid adjustable-rate mortgages:averaged 2.70 percent, with an average 0.5 point, falling from last week’s 2.74 percent average. A year ago, 5-year ARMs averaged 2.99 percent.

rates_063016Source: Freddie Mac

Mortgage Rates and Market Data

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Mortgage Rates Hover Near All-Time Low – Chuck Barberini

 

Author: Chuck Barberini

As a professional Realtor for over 15 years, I have lucky enough to work with several companies and many different brokers. I have learned and gained experience through all of my interactions and transactions. I have continued to work diligently to nurture and support my network of clients, both buyers and sellers, Real Estate colleagues, investors and other professionals in related fields. By working on and developing relationships, I have been able to maintain and grow my business through the dramatic ups and downs in the Real Estate market over the past decade. I am, however, more than just a Real Estate professional, I’m also a neighbor, a friend, husband and father. I take a keen interest in people and their well-being, working hard to earn and maintain their trust and respect. My upbringing here in the San Francisco Bay Area, as well as my professional experience, has given me the ability to work easily with a variety of Real Estate clients who have a variety of needs. From helping first-time home-buyers find that special home together, to strategizing with investors to find and secure wealth-building assets, I help navigate and problem-solve the complex processes and negotiations that are inherently part of this industry. I prefer to focus on the relationship rather than just the transaction, believing that a satisfied client will share my name with their friends and colleagues. This approach has helped me expand my local network to include the legal community involved with probate issues. And I am proud to be a preferred agent to a number of professionals in this area.

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