Another Drop in Asheville Mortgage Rates to 4.51%
Another Drop in Asheville Mortgage Rates to 4.51%
Another drop in Mortgage rates this week, because of the weakening job report and an increase in the unemployment rate. The question is how much lower will they go with a 15 year ARM at 3.65%? Here’s a closer look at mortgage rates for the week:
Asheville mortgage rates have followed national numbers giving Asheville home sales a healthy increase. Allowing Asheville Real Estate to date enjoy a 30% increase in home sales over last year.
Waynesville and Maggie Valley home sales are up 3% over last year.
30-year fixed-rate mortgage: averaged 4.51%, down from last week when it averaged 4.60 percent. Last year at this time, the 30-year rate averaged 4.57%.
15-year fixed-rate mortgage: averaged 3.65%, down from last week when it averaged 3.75 percent. A year ago at this time, the 15-year rate averaged 4.06%.
5-year adjustable-rate mortgage: averaged 3.29% this week, down from last week when it averaged 3.30 percent. A year ago, the 5-year ARM averaged 3.85%.
1-year ARM: averaged 2.95% this week, down from last week when it averaged 3.01 percent. At this time last year, the 1-year ARM averaged 3.74%.
With the low interest rate, great all time low interest rates I agree with the experts that home prices will level off this year and start increasing in 2012.
