Mortgage Rates - Dropping Like It's Hot

Home > Financing > Mortgage Rates Fall Yet Again

If you have not already refinanced your primary residence or rental properties, you may need to get crackin'. Fixed mortgage rates fell for a seventh consecutive week hitting new lows for the year. According to Freddie Mac's most recent rate survey (released last Thursday), 30 year fixed rate averages fell from 4.60% to 4.55% with .6 points. 15 year fixed rate averages also drifted lower moving from 3.78% to 3.74% with .7 points. The agency reported 5/1 ARM rates remained flat at 3.41% with .6 points while 1/1 AR rates actually moved climbing slightly from 3.11% to 3.13% with .6 points.

Frank Nothaft, of Freddie Mac, relayed that fixed mortgage rates moved lower with US Treasury Yields as news came out the the economy is in a rut with consumer spending down a half a percent and the S&P/Case-Shiller® National Home Price Index dropping 5.1% between the first quarters of 2010 and 2011.

To read the full Freddie Mac release visit:
http://freddiemac.mediaroom.com/index.php?s=12329&item=40496

For additional information on current mortgage rates visit BurlingtonMortgage.biz, Eloan.com, or Bankrate.com. Keep in mind that all of those publishers are not displaying rates for investment properties. If you would like to request current investment property mortgage rates check out American Bank Mortgage by calling 877-215-2290.