RateAPY

Mortgage Rates Tick Up

Posted by: RateAPY Bank Rates News
March 19th, 2010

Just the slightest of movements happened this week in mortgage rates. According to the Freddie Mac Primary Mortgage Market Survey (PMMS), the 30 year fixed average conforming mortgage rate moved from 4.95% with 0.7% points to 4.96% with 0.7% points. The 15 year fixed average conforming mortgage rates moved from 4.32% with 0.7% points to 4.33% with 0.6% points.

Frank Nothaft, Freddie Mac VP said, “With home prices starting to stabilize and even rise, homeowners on aggregate are slowly building back equity in their homes based on figures from the Federal Reserve Board. After losing almost $7.9 trillion in home equity since the end of 2006, homeowners regained almost $1.1 trillion over the past three quarters ending in 2009.”

Get a mortgage rate quote to refinance an existing mortgage or to purchase a new property. There has never been a better time to take advantage of today’s historic low mortgage rates.