Happy Independence Day Everyone
For the week ending July 2nd, long term mortgage rates have dropped from the prior week according to Freddie Mac.
http://www.freddiemac.com/pmms/release.html
“Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey® (PMMS®) in which the 30-year fixed-rate mortgage (FRM) averaged 5.32 percent with an average 0.7 point for the week ending July 2, 2009, down from last week when it averaged 5.42 percent. Last year at this time, the 30-year FRM averaged 6.35 percent.”
For homeowners and prospective home buyers, it is a great time to obtain a mortgage with one of the lowest rates in past 40 years. Thanks to our friends at Freddie Mac, we can see the current interest rates available in the marketplace today, are truly some of the lowest on records.
