ABBA First Mortgage News

And so the saga of rates going continues up and down continues

Today is September 29th and rates have lost ground again today after a strong surge this  morning.

For the week ending September 23, 30 year mortgage rates rose slightly from the week before.

In addition, 15-year loans increased to 2.15% and the average for five-year ARMs fell to 2.43%. A year ago, 30-year fixed rates averaged 2.90%, virtually the same as today. Attributed to Sam Khater, Chief Economist, Freddie Mac – “The slowdown in economic growth around the world has caused a flight to the quality of the U.S. financial markets. This has led to a rise in foreign investor purchases of U.S. Treasuries, causing mortgage rates to remain in place, despite the increasing dispersion of inflation across different consumer goods and services.”

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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