ABBA First Mortgage News

Although rates bumped up a bit, ABBA First remains among the lowest in Wilmington NC Mortgage Rates

“Being competitive in today’s world amongst the industry giants has been my goal since the inception of this company” stated Rich Biagini, Owner and President of ABBA First Mortgage.¬† “For the last 15 years, we’ve played upon our strength of having a low overhead and strong wholesale mortgage lender¬†relationships leading to competitive pricing and therefore low rates for our borrowers”.¬† See for yourself what ABBA First can do for your next mortgage loans in NC or TN by calling 910-332-0650.

For the week ending June 11, Freddie Mac announced that 30-year fixed rates moved up to 3.21% from 3.18% the week before. The average for 15-year loans remained at 2.62% and the average for five-year ARMs also was flat at 3.10%. A year ago, 30-year fixed rates averaged 3.82%, more than 0.50% higher than today. “The rebound in homebuyer demand continued this week, driven by interest rates that hover near record lows. This turnaround in demand, particularly by those who have higher incomes than the typical household, also reflects deferred sales from the Spring,” said Sam Khater, Chief Economist, Freddie Mac.

Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.

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