ABBA First Mortgage News

Springtime is right around the corner here in the Southeast

April showers have come early this year for much of the southeastern USA. Well it beats the frigid cold that the northeastern states are experiencing with snow and frigid cold weather from the DC area and further north. But mortgage interest rates are just about the same all over and for the week ending February 14, Freddie Mac announced that 30-year fixed rates moved down to 4.37% from 4.41% the week before. Let it be known that ABBA First advertised 4.125% for 30 year mortgage interest rates for the qualified buyed during that same period which was .25% lower than the national average. This is something that anyone living in NC or TN could have taken advantage of then or now as we continue to lead the industry with our low, attractive interest rates. Just a quick phone call to 910-332-0650 or an email to richsr@abbafirst.com and these rates could be available to you which could save you thousands of dollars over the course of years.

The average for 15-year loans also fell to 3.81% and the average for five-year adjustables decreased to 3.88%. A year ago, 30-year fixed rates averaged 4.38%, virtually the same as today. “The combination of cooling inflation and slower global economic growth led rates on home loans to drift down to the lowest levels in a year. While housing activity has clearly softened over the last nine months and the lingering effects of higher rates from last year are still being felt, lower rates and a strong job market should rekindle demand for the spring homebuying season,” 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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