Friday, April 1, 2011

this weeks brew

30-Year Fixed-Rate Mortgage Up Slightly for Second Week - 30-year fixed-rate mortgage (FRM) averaged 4.86% with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81%. Last year at this time, the 30-year FRM averaged 5.08%. 15-year FRM this week averaged 4.09% with an average 0.7 point, up from last week when it averaged 4.04%. Frank Nothaft, vice president and chief economist at Freddie Mac, reports, "Low rates have benefited from relatively benign inflation reports. Inflation as measured by the 12-month growth in the core price index for consumer spending, a metric preferred by the Federal Reserve, is hovering near the lowest pace since 1960 when this data series began." Read article:
http://realtytimes.com/rtpages/20110401_rates.htm

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