Inflation still at bay for now as mortgage rates have fallen again.
Freddie Mac: Mortgage rates fall; 30-year loan averages 4.34%
Mortgage rates fell this week as inflation appeared to be no threat, Freddie Mac said Thursday. Above, a home under construction in Irvine in January. (Patrick T. Fallon / Bloomberg)
Lenders were offering 30-year
fixed-rate mortgages at an average of 4.34% this week compared with
4.41% a week ago, according to the widely watched survey from home finance giant Freddie Mac.
The decline in rates,
reflecting a belief that overall inflation remains at bay, was also seen
in 15-year fixed loans, which dropped from an average 3.47% to 3.38%.
Start rates for adjustable-rate loans also fell, according to Freddie Mac.
Freddie Mac asks lenders across the nation about the terms they are offering on popular loan types to borrowers considered low risk and with 20% down payments or equivalent home equity in the case of refinance loans.
The borrowers would pay less than 1% of the loan amount to the lenders in upfront fees and discount points. It's possible to obtain lower rates by paying additional discount points.
Start rates for adjustable-rate loans also fell, according to Freddie Mac.
Freddie Mac asks lenders across the nation about the terms they are offering on popular loan types to borrowers considered low risk and with 20% down payments or equivalent home equity in the case of refinance loans.
The borrowers would pay less than 1% of the loan amount to the lenders in upfront fees and discount points. It's possible to obtain lower rates by paying additional discount points.
Source: http://www.latimes.com/business/money/la-fi-mo-freddie-mac-mortgage-rates-20140410,0,751908.story#axzz2ybdu7SHz
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