Mortgage Rates Fall to Late-Spring Levels
According to the latest issue of HSH’s Market Trends Newsletter, “Home Loan Rates Slip Back; Lower To Come?,” mortgage rates fell last week to levels unseen since late spring, and have the potential to fall even lower.
“The overall average rate for 30-year fixed-rate mortgages revealed in HSH’s Fixed-Rate Mortgage Indicator (FRMI) nudged downward, slipping seven basis points (.07%) to close the first week of September at 5.56%. The overall average for 5/1 Hybrid ARMs lost five basis points to landing at 4.87%. Conforming 30-year FRMs finished the period at 5.25%, a level last seen in late May.”
