ABBA First Mortgage News

For the week ending September 30, 30-year rates rose to 3.01% from 2.88% the week before.

In addition, 15-year loans increased to 2.28% and the average for five-year ARMs rose to 2.48%. A year ago, 30-year fixed rates averaged 2.88%, approximately .125% lower than today. Attributed to Sam Khater, Chief Economist, Freddie Mac – “Mortgage rates rose across all loan types this week as the 10-year U.S. Treasury yield reached its highest point since June. Many factors led to this increase, including the Federal Reserve communicating that it will taper its support of the capital markets, the broadening of inflation and emerging energy supply shortages which compound other labor and materials shortages. We expect mortgage rates to continue to rise modestly which will likely have an impact on home prices, causing them to moderate slightly after increasing over the last year.” 

ABBA First has kept rates in line with the lowest possible rates available for refinancing as well as for purchases.  Please call 910=332-0650 and find out how you can still take advantage of historically low rates before they get away from you.  We will work with you and find the best product to meet your needs.

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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