Mortgage Rates To Highest In Eight Months!

Bond Yields Push 30-Year Mortgage Rates to Highest Level in Eight Months

April 8, 2010
Contact: corprel@freddiemac.com
or (703) 903-3933

“McLean, VA – 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 5.21 percent with an average 0.6 point for the week ending April 8, 2010, up from last week when it averaged 5.08 percent.  Last year at this time, the 30-year FRM averaged 4.87 percent.  This is the highest the 30-year FRM has been since the week ending August 13, 2009 when it averaged 5.29 percent.

The 15-year FRM this week averaged 4.52 percent with an average 0.6 point, up from last week when it averaged 4.39 percent.  A year ago at this time, the 15-year FRM averaged 4.54 percent.  This is the highest the 15-year FRM has been since the week ending December 31, 2009, when it averaged 4.54 percent.”

Mortgage Rate History:
Did you know that between 1978 and 1990 mortgage interest rates were above 10%?  When I got my real estate license in 1983 interest rates were 13.73%.  The highest mortgage interest rate was 18.45% in 10/10/1981.  You can see mortgage rates from 1971 to 2006 here.

So why aren’t you investing in at least one property while rates are historically low?  What other investment allows you the opportunity to live in the investment while you are financing it?  You can’t “live” in a mutual fund.  Real estate is a smart, long term wealth building strategy.  Don’t take my word for it-just check out a few of Donald Trump’s books at your local library.  What does he know that you SHOULD know?

You can easily search the mls database for homes in Alpharetta, Johns Creek, Milton and Roswell, Georgia, (and see all member brokers and builders homes) without registration at http://www.TalkAlpharettaHomes.com. Every day you are missing great investment opportunities! Call Rhonda-404-226-2824.  Interest rates have hit bottom and are going up!!

 

 

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Tags: Alpharetta, Georgia, investment, Johns Creek, Milton, mls database, Mortgage rates rise, real estate, Roswell