Welcome to the ViewAndSearch.com Blog

2011-12-10 07:38:32
Low Mortgage Rates Keep Housing Affordability High

Daily Real Estate News | Friday, December 09, 2011

Mortgage rates continued to be near record lows this week, keeping housing at affordable levels for most households. 

'Thirty-year fixed-rate loans have declined 0.62 percentage points from a year ago, and median sales prices on existing homes are off 4.7 percent in the year ending with October,” Frank Nothaft, Freddie Mac’s chief economist, said in a statement. “These low rates and home prices have pushed housing affordability to record highs this year.”

Monthly principal and mortgage interest payments accounted for 12.6 percent of a median family incomes in October, Nothaft notes. For the sixth time this year, the National Housing Affordability Index reached another all-time record high, according to the National Association of REALTORS®. 

Here’s a closer look at mortgage rates for the week ending Dec. 8.

30-year fixed-rate mortgages: averaged 3.99 percent, with an average 0.7 point, down from last week’s 4 percent average. A year ago, 30-year rates averaged 4.61 percent. 

15-year fixed-rate mortgages: averaged 3.27 percent, with an average 0.8 point, just slightly above the all-time low of 3.26 percent it reached on Oct. 6. Last year at this time, 15-year rates averaged 3.96 percent. 

5-year adjustable-rate mortgages: averaged 2.93 percent this week, with an average 0.5 point, ticking up slightly from last week’s 2.90 percent average. Last year at this time, the 5-year ARM averaged 3.60 percent.

1-year ARMs: averaged 2.80 percent this week, with an average 0.6 point, edging up slightly from 2.78 percent last week. A year ago, 1-year ARMs averaged 3.27 percent.  

 Provided by,

Doug Spiers / Associate Broker 

Global Choice Real Estate
1436 South Legend Hills Drive Suite 311
Clearfield, Utah 84015

Direct (801) 726-7173

Email: DougSpiers@aol.com 

ViewAndSearch.com

“The highest compliment I can receive is the referral of your friends, family and business associates. Thank you for your trust and confidence.”

 
Blog Archive
2017-10-13 11:57:01
4 Reasons to Sell This Fall

2016-05-06 07:23:41
Best Long-Term Investment

2016-02-02 16:49:28
No Matter Which Groundhog You Listen To...

2016-01-29 14:35:49
Existing Home Sales Bounce Back

2015-12-09 08:46:15
Real Estate News You Need to Know Wed. 12/9/15

2015-12-03 08:11:23
2016 Home Prices and Rates?

2015-10-16 10:43:16
2016 Home Prices?

2015-10-15 12:27:38
Rental Repairs?

2015-10-15 12:24:39
Millennials?

2015-10-13 07:15:49
New Home Sales Surge

2015-10-07 10:35:23
30-Year Fixed Mortgage Rates Fall to 5-Month Low;

2015-07-29 07:20:05
What you need to know today.

2015-07-22 13:45:39
Rates Today July 22,2015

2015-01-08 07:32:51
Mortgage Rates Hit 19-Month Low

2014-12-24 10:04:16
30-Year Fixed Mortgage Rate Up From 19-Month Low;

2014-09-02 18:21:41
30-Year Fixed Mortgage Rates Drop

2014-08-31 08:55:58
Housing Market Looking Up

2014-08-22 21:25:38
US housing recovery appears to be back on track

2014-07-08 08:16:44
4 in 10 US households use cellphones only

2014-06-30 12:51:26
Pending Home Sales Surge 6.1%

2014-04-29 18:07:58
Pending Home Sales 4/28/14

2013-11-14 12:56:43
30-year-mortgage rate rises to 4.35%

2013-11-13 07:58:25
Fewer Late On Mortgage Payments = Housing Strength

2013-05-02 15:12:13
Home prices along Utah's Wasatch Front

2013-04-12 15:14:02
Salt Lake housing market looks for spring rebound

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.