Mortgage Rates – “WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for a fourth straight week amid persisting turmoil in stock markets and global economic worries..” …
Mortgage Rates Still In Down Trend
Freddie Mac Reports Rates Drop Once Again
Just the day before yesterday I put up a post concerning home loan rates and what we could expect in the near future. Well, we have confirmation today that the trend continues. Freddie Mac reports today that mortgage rates have fallen again. That makes the 4th consecutive week in a row. As of today, the national average for a 30-year fixed-rate home loan is 3.79 percent, down from 3.81 just a week ago.
We won’t go into a whole lot of discussion here. We talked about this and what it might mean for the future in our previous post. If you’d like a bit more background, you can read that by CLICKING HERE.
The sustained decline in mortgage rates in recent weeks has spurred prospective homebuyers. Applications for mortgages increased 8.8 percent in the week ended Jan. 22 from the previous week, according to the Mortgage Bankers Association. The number of people signing contracts to purchase homes managed to inch up last month, thanks to unseasonably warm weather in the Northeast, data issued Thursday by the National Association of Realtors showed. The tiny bump suggests that home sales may plateau this year after a solid increase in 2015.
California Mortgage Rates
All states are a bit different, and California is usually just a tad higher than the national averages. Here are the home loan rates for California as of today. Right now we are where the national average was just a couple of weeks ago.
By the way … You can see this graph updated daily in the sidebar to your right here on this web site. Where you see the little widget that tells you Mortgage Rates, simply click on the little link that says “Trends”, and you see this up-to-the-minute report.