If you need assistance, please call 858-345-9040

Mortgage Rates and Your Carmel Valley Home Options

Monday, January 29, 2018   /   by Sean Zanganeh

Mortgage Rates and Your Carmel Valley Home Options

your home and mortgage rates in 2013Curious about how rate changes may affect your Carmel Valley home buying experience? Higher rates may result in adjustments needing to be made on the amount of loan you qualify for, so be sure to discuss your individual situation with a lender, so that you are aware of the options available for your Carmel Valley home.

Recent rates released in the Primary Mortgage Market Survey(R) (PMMS®) continued to come in relatively high, due to market speculation that the Federal Reserve may reduce future bond purchases in response to June's strong employment report.

According to Frank Nothaft, vice president and chief economist of Freddie Mac, "June's strong employment led to more market speculation that the Federal Reserve will reduce future bond purchases causing bond yields to rise and mortgage rates followed."

An average 4.51% with a .8 point was seen with the 30-year fixed-rate mortgage (FRM), an increase from the previous week's 4.29% and well above last July's 3.56%.

The 15-year FRM rose to 3.53% with a 0.8 point, from 3.39% and the average of 2.86% in July 2012.

Slight increases were seen on the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) as well, which averaged at 3.26% with a average 0.7 point, versus the 3.10% rate last week and 2.74% one year ago.

Surprisingly, the 1-year Treasury-indexed ARM remained unchanged since last week, with an average 2.66% (average 0.5 point), which was very similar to the July 2012 rate of 2.69%.

View week to week comparisons for 2013 by visiting FreddieMac.com.
My San Diego Dream Home
Sean Zanganeh
12780 High Bluff Dr
San Diego, CA 92130
858-345-9040
CA DRE# #01851910

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2019 San Diego MLS®, Inc.