Mortgage Rates August 2016: Near All Time Low – Desert Ridge Real Estate

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Mortgage Rates August 2016: Near All Time Low – Desert Ridge Real Estate

Mortgage Rates August 2016: Average fixed mortgage rates declined after nudging slightly higher for three consecutive weeks, according to the recently released Freddie Mac Primary Mortgage Market Survey® (PMMS®).

Mortgage Rates August 2016Mortgage Rates August 2016

The 30-year fixed-rate mortgage (FRM) averaged 3.43 percent with an average 0.5 point for the week ending August 4, 2016, down from last week when it averaged 3.48 percent.

A year ago at this time, the 30-year FRM averaged 3.91 percent.

Additionally, the 15-year FRM this week averaged 2.74 percent with an average 0.5 point, down from last week when it averaged 2.78 percent. A year ago at this time, the 15-year FRM averaged 3.13 percent.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged [Read More]

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