Mortgage rates ease after run-up

For-sale-SoldAccording to an article today (7/3/2013) in the Los Angeles Times:

Fixed mortgage rates fell early this week following last week’s dramatic surge, with lenders offering 30-year home loans to solid borrowers at an average of 4.29%, according to Freddie Mac.

The average rate had spiked to 4.46% a week earlier on fears that the Federal Reserve would soon cut back on a major bond-buying program designed to keep interest rates low.

The rates for highest qualified borrowers is still higher than a year ago.  This means that fewer borrowers can qualify for loans.

For the full LA times article click here.

 

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Category: Real Estate News

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