Mortgage Rates Continue a Downward Trend
By: Sarah Greenleaf, PR Intern | September 15, 2009
Mortgage rates for 30-year fixed rates continued a downward trend, with the weekly average rate borrowers were quoted on Zillow Mortgage Marketplace at 5.04%, down from 5.09% the week prior. For 15-year fixed mortgages, borrowers were quoted on average, 4.48% and for 5/1 ARMs, 4.02%.
This morning, the national rate for 30-year fixed purchase mortgages was 5.02%. Check Zillow Mortgage Marketplace for up-to-the-minute mortgage rates.
- Stumble it!
- Categories: Mortgages
Comments
11 Comments so far
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Brandon Green on September 16, 2009 7:14 am
Excellent news for the real estate market. Many buyers, sellers, and investors in Washington, DC, have been waiting for them to bottom out.
Mortgage Rates Continue a Downward Trend « Real Estate Investor News And Deals on September 16, 2009 8:36 am
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abe vigoda on September 16, 2009 8:52 am
Brandon, are you saying potential buyers, sellers,and investors have been waiting for a 5 basis point move? What nonsense. Interest rates can go to zero and it won’t matter much. It’s not about the rate. It’s about home values and affordability.
Tell the 10% + of the work force that are unemployed or the millions of bagholders that are underwater that mortgage rates dropped 5bps.
More mindless realtor babble.
Finance on September 16, 2009 12:07 pm
I think it’s still a good news anyway
Salt Lake City Mortgage on September 18, 2009 8:56 am
I have to agree with abe. Until home prices stabilize the mortgage rate is of little value. And until we have an organic real estate market I really don’t see any progress
Credit Restoration CRB on September 21, 2009 8:49 am
I see both sides. It is good news however; an organic real estate market would be nice!
Greg Smith on September 21, 2009 7:57 pm
We will not see real strength until we see more liquidity in the Jumbo Loan Market.
Free Loan Modification Kit on September 24, 2009 5:35 pm
Its nice to see the mortgage rates going down, with all the homeowners out there struggling to pay their mortgage every month.
Buy To Let on October 24, 2009 8:52 am
About time the rates got lower, and values so we can all have a chance..
Buy To LetMortgages on November 3, 2009 12:26 pm
Be good if they reflected the saving rates being offered by the banks, someone is making money out of the interest rates.
Mortgage Rates Continue a Downward Trend | Zillow Blog – Real … | Mortgage Trend on November 6, 2009 3:49 pm
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