For the week ending January 31, Freddie Mac announced that 30-year fixed rates moved up one tick to 4.46%. But not for ABBA First Mortgage as we have kept our rates at an industry leading low of 4.25% for 30 years. The average for 15-year loans also was up one tick to 3.89% while ABBA First Mortgage remained at 3.625% and the average for five-year adjustables fell to 3.86%. A year ago, 30-year fixed rates averaged 4.22%, less than one-quarter of one percent lower than today. “Purchase applications were down this week after soaring early in the year. However, softening house price appreciation along with increasing inventory of homes on the market – and historically low interest rates – should give a boost to the spring homebuying season,” said Sam Khater, Chief Economist, Freddie Mac.
Somebody should get on the phone and call ABBA First today and start an application to take advantage of the low rates and excellent service that we offer. Isn’t a few hundred dollars or a few thousnd dollars a year better in your pockect rather than in the bank’s vault? I think so too! Call us soon! 910-332-0650.