As of May 24th, 2007, the current average mortgage rates according to Freddie Mac's Weekly Primary Mortgage Market Survey are as follows:
30-yr Fixed Rate Mortgage: 6.37% with fees & points averaging at 0.4
15-yr Fixed Rate Mortgage 6.06% with fees & points averaging at 0.4
5/1-yr Adjustable Rate Mortgage 6.02% with fees & points averaging at 0.5
1-yr Adjustable Rate Mortgage 5.64% with fees & points averaging at 0.6
Mortgage rates are up this week from last. However, all rates, with the exception of the 1-yr Adjustable Rate Mortgage, are still down from last year at the same time. The 1-yr ARM is averaging about the same as last year at this time.
If you are in the market to purchase a home, please contact
The Vanderhoff Team today. We can assist you with your real estate questions and set you up with a custom property search to help you find the home that fits your needs. Rates are low, and the market has a high inventory of homes available. It's a great time to buy your next home! Contact us today at 770-888-9269 or info@vanderhoffteam.com to get started.