Temecula Real Estate and Mortgage News

by Monica Atherton on June 21, 2012

in Buyers,Latest News,Mortgage,Temecula

Mortgage rates hit new lows this week, still searching for a bottom after pausing last week from six consecutive weeks of declines.

Rates on 30-year fixed-rate mortgages (FRM) averaged 3.66 percent with an average 0.7 point for the week ending June 21, down from 3.71 percent last week and 4.50 percent a year ago, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey. That’s a new low in Freddie Mac records dating to 1971.

ForĀ  15-year fixed-rate mortgages, rates averaged 2.95 percent with an average 0.6 point, down from 2.98 percent last week and 3.69 percent a year ago. Rates for 15-year loans — a popular refinancing option — hit an all-time low in records dating to 1991 of 2.94 percent the week ending June 7.

Interest rates continue to be low but home sales in Temecula have picked up. If you are still on the fence about purchasing a home, give me a call.

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Post by Monica Atherton

I am a Temecula Realtor specializing in Temecula Wine Country, Bear Creek, Greer Ranch and other communities of Temecula and Murrieta. I am committed to helping my clients achieve their dreams. Over the last 16 years I have been serving people with their real estate needs whether it was counseling buyers in finding their dream homes, moving up, sizing down or helping them through tough economic times. I will advise you on the important factors to consider when you are looking for that perfect place or what options you have if you are faced with foreclosure.

Monica has written 234 articles.



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