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Jennifer Raney Herriage

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INTEREST RATES BELOW 4%!!!

November 21, 2014 By JenniferHerriage Leave a Comment

Below 4% fixed rate interest rate has returned, Freddie Mac reports in its weekly mortgage market survey.

“If you are planning to buy a home in the next year, it’s better to do it sooner rather than later,” Frank Nothaft, Freddie Mac’s chief economist, said in the video commentary embedded here.

The difference between in just a few points in interest can add up to literally thousands of dollars over the life of the loan.  It also effects your ability of what you can qualify for.

Thinking of purchasing a second home?  Now is the time to get moving on that search.

Freddie Mac reported the following national averages with mortgage rates for the week ending Nov. 20:

  • 30-year fixed-rate mortgages averaged 3.99 percent, with an average 0.5 point, dropping from last week’s 4.01 percent average. The 30-year fixed-rate mortgage dipped to 3.97 percent in mid-October, its lowest average so far this year.
  • 15-year fixed-rate mortgages averaged 3.17 percent, with an average 0.5 point, decreasing from last week’s 3.2 percent average. A year ago, 15-year rates averaged 3.27 percent.
  • 5-year hybrid adjustable-rate mortgages averaged 3.01 percent, with an average 0.5 point, falling slightly from last week’s 3.02 percent average. A year ago, 5-year ARMs averaged 2.95 percent.
  • 1-year ARMs averaged 2.44 percent, with an average 0.4 point, inching up slightly from last week’s 2.43 percent average. Last year at this time, 1-year ARMs averaged 2.61 percent.

Source: Freddie Mac

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Testimonials

“I have both bought and sold properties from Jennifer and I can highly recommend her without any reservation.  She is uniquely qualified due to her vast experience in not only the marketing of homes but also all aspects of ownership.  The result is a professional that adds value to the client beyond the associated cost of representation.” 
- Dean Lontos

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About Jennifer

Unlike many who get into the field, real estate has been the only career for Jennifer Raney Herriage, who has excelled in serving clients for over 20 years.  Having grown up in a real estate family, Jennifer was first inspired by her mother, a broker … Read more...

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