Thursday of last week, Freddie Mac said the average 30 year mortgage rate increased by .01% to 4.23%. The avg 15 year rate also increased from 3.29% to 3.31% Both are still on lows since the month of July.
Decreases over the last month were spurred by the Federal Reserve's insistence that they will not slow the pace of bond purchases. Also the government shutdown and the economic uncertainty that followed has been affecting the rates loan recipients are receiving.
On another note, the government shutdown has also thrown a wrench into some buyer's closings as furloughed agencies are having a hard time keeping up with demand for federal income tax returns and social security information. With 30% of all home loans being backed by the Federal Housing Administration, the FHA is having trouble keeping up with the pace as well.
Looking for help with buying or selling your home? I have the tools, knowledge and experience to help you with your new move. Visit Michael Galovic Homes to contact me or to look for your perfect home.
Source: Florida Association of Realtors
No comments:
Post a Comment