Mortgage Rates Stay Low to Start 2007

Mortgage Rates Stay Low to Start 2007

Mortgage Rates Stay Low to Start 2007

Rates on 30-year mortgages were unchanged in the first week of the new year after posting three consecutive increases to close out 2006.

Mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.18 percent this week, the same as last week.

Analysts said the markets in recent days have gotten some confusing messages about how serious the current economic slowdown will be.

“Currently, the market is waiting for a clearer signal on the direction in which the economy is headed,” said Frank Nothaft, Freddie Mac’s chief economist.

For 2006, 30-year mortgages peaked at 6.80 percent in late July with rates trending lower for most of the rest of the year. That decline was welcomed by the embattled housing industry , which is in the grips of a severe downturn after five boom years.

The Freddie Mac survey showed that other types of mortgage rates were mixed this week.

Rates on 15-year, fixed-rate mortgages, a popular choice for refinancing, edged up slightly to 5.94 percent, compared to 5.93 percent last week.

Five-year adjustable rate mortgages rose to 6.02 percent, up from 5.98 percent, but one-year adjustable rate mortgages fell to 5.42 percent, down from 5.47 percent last week.

The mortgage rates do not include add-on fees known as points. Thirty-year, 15-year and five-year mortgages each carried a nationwide average fee of 0.4 point. One-year ARMs carried a fee of 0.6 point.

A year ago, rates on 30-year mortgages stood at 6.21 percent while 15-year mortgages were at 5.76 percent, five-year ARMs averaged 5.78 percent and one-year ARMs were at 5.16 percent.

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THE JANA CAUDILL TEAM HAS SOLD MORE REAL ESTATE IN NWI THAN ANY OTHER REALTOR!

WORK WITH US

The Jana Caudill Team delivers unparalleled service to all of our clients with honest representation, communication, attention to detail, and results. Reaching your goals is our number one priority.

THE JANA CAUDILL TEAM HAS SOLD MORE REAL ESTATE IN NWI THAN ANY OTHER REALTOR!

WORK WITH US

The Jana Caudill Team delivers unparalleled service to all of our clients with honest representation, communication, attention to detail, and results. Reaching your goals is our number one priority.

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FLORIDA

6305 NAPLES BLVD #1087, NAPLES, FL 34109

INDIANA

1174 E. SUMMIT STREET, CROWN POINT, IN 46307

The information on this website is for informational purposes only; it is deemed accurate but not guaranteed. It does not constitute professional advice. Testimonials are not a guarantee, warranty or prediction of what your experience with us will be. The information provided herein including, but not limited to, the size or area of lots, structures or living space, such as room dimensions, square footage calculations or acreage is believed to be accurate, but is not warranted or guaranteed and has been provided by third party sources. This listing is subject to errors, omissions, changes and potential non-conforming areas, which may not be insurable or considered a portion of the value of the sales price of the property. All buyers are strongly advised to seek legal counsel in the purchase of real estate. In addition, conduct their own inspections, make every effort to independently verify the information provided herein with respect to any and all matters which affect the use and/or obligation with respect to ownership, prior entering into an agreement for purchase. By providing contact information, users acknowledge and give explicit consent to be contacted via the methods of communication provided, including SMS. Message and data rates may apply. Message frequency may vary. Reply STOP to opt out.

FLORIDA

6305 NAPLES BLVD #1087, NAPLES, FL 34109

INDIANA

1174 E. SUMMIT STREET, CROWN POINT, IN 46307

The information on this website is for informational purposes only; it is deemed accurate but not guaranteed. It does not constitute professional advice. Testimonials are not a guarantee, warranty or prediction of what your experience with us will be. The information provided herein including, but not limited to, the size or area of lots, structures or living space, such as room dimensions, square footage calculations or acreage is believed to be accurate, but is not warranted or guaranteed and has been provided by third party sources. This listing is subject to errors, omissions, changes and potential non-conforming areas, which may not be insurable or considered a portion of the value of the sales price of the property. All buyers are strongly advised to seek legal counsel in the purchase of real estate. In addition, conduct their own inspections, make every effort to independently verify the information provided herein with respect to any and all matters which affect the use and/or obligation with respect to ownership, prior entering into an agreement for purchase. By providing contact information, users acknowledge and give explicit consent to be contacted via the methods of communication provided, including SMS. Message and data rates may apply. Message frequency may vary. Reply STOP to opt out.