ABBA First Mortgage News

We saw rate improvements for Thanksgiving which are continuing on so far this week

Rates fell back with the recent stock market turmoil.  For the week ending November 21, Freddie Mac announced that 30-year fixed rates decreased to 4.81% from 4.94% the previous week.  The average for 15-year loans fell to 4.24% and the average for five-year adjustables eased to 4.09%.  A year ago, 30-year fixed rates averaged 3.92%, close to one percent lower than today.  ABBA First Mortgage has been offering one of the lowest rate and term combinations (4.625% with 0 pts.) available for the right clients when they are ready to lock in their mortgage loan transactions. Please give us a call at 910-332-0650 and find out for yourself just what we can do for you whether purchasing or refinancing your home!  Attributed to Sam Khater, Chief Economist, Freddie Mac — “The downward spiral in oil prices and a volatile equities market caused rates on 30-year fixed loans to decline 13 basis points to 4.81 percent, the largest weekly drop since January 2015. Rates on home loans are the lowest since early October and the dip offers a window of opportunity for would be buyers that have been on the fence waiting for a drop in rates.

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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