Mortgage rates are heading lower. Long-term mortgages rates turned lower this week after rising for four consecutive weeks. According to Freddie Mac's weekly rate report, a 30-year fixed-rate mortgage averaged 4.80 percent in the week ending April 21, down from 4.91 percent last week, A 15-year fixed-rate loan averaged 4.02 percent, down from 4.13 percent. Dropping from 3.25 percent last week, a one-year adjustable-rate mortgage is now averaging 3.16 percent. Frank Nothaft, chief economist for Freddie Mac (OTC BB:FMCC) stated “Low inflation is keeping mortgage rates at bay, the 12-month growth rate in core prices was 1.2 percent, which is rather low by historical standards.” Home sales in the four-county Raleigh-Durham Real Estate/Triangle region – Wake, Durham, Orange and Johnston counties – dropped 13.6 percent year over year in March, to $1,596. The median home sales price fell 1.1 percent, to $181,050, while the days on market until sale jumped 26 percent, to 131. Click here to download the Triangle MLS report in PDF format. Raleigh-Durham Real Estate The Mooney-Jones Team / FM Realty919.443.5152
via Posterize
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