Custom home builder Dreambuilder Custom Homes will create the home of your dreams in Jacksonville Fl

Source: Associated Press/AP Online
Publication date: March 24, 2011

NEW YORK – Fixed mortgage rates edged up this week, but even 30-year rates below 5 percent have done little to boost home sales.

Freddie Mac said Thursday the average rate on the 30-year fixed mortgage rose to 4.81 percent from 4.76 percent the previous week. It hit a 40-year low of 4.17 percent in November.

The average rate on the 15-year fixed mortgage increased to 4.04 percent from 3.97 percent. It reached 3.57 percent in November, the lowest level on records dating back to 1991.

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From interest.com

Interest.com’s weekly survey of major lenders, taken Feb. 9, found the average interest rate for a:

30-year, fixed-rate loan increased to 5.23% from 5.02%. Interest rates are now higher than they were at this time last year, when a 30-year loan averaged 5.15%.

15-year, fixed-rate loan jumped to 4.48% from 4.29%. A year ago, it was 4.52%.

30-year, fixed-rate jumbo loan (for mortgages exceeding $417,000 to $729,750, depending on the city) climbed to 5.74% from 5.54%. A year ago, it was 5.95%.

Five-year, adjustable-rate loan rose to 4.01% from 3.84%. A year ago, it was 4.56%.

Our database of mortgage rates can help you find the best deals in your area, including many that are less costly than these national averages.

Source: Associated Press/AP Online
Publication date: January 13, 2011

About two weeks ago we published a Newsfeed post about mortgage interest rates nearing the bottom — meaning the only place they can go is up.  While the rates are still at historical lows, waiting to make that building decision for several months could result in a higher interest rate, which lessens your buying power.  This article from the New York Times by Lynnley Browning provides insight on why now is the time to act!

Mortgage rates in 2010 were the lowest in six decades, but a recent and sustained increase may indicate that consumers can expect to pay more in the new year to buy or refinance a home.

After hitting rock bottom in mid-November, fixed rates for 30-year mortgages, the most common type of home loan, have steadily risen.

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