Mortgage Rates Up But Still Below 4 Percent Sweet Spot BUY NOW

Dated: 11/01/2014

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Average fixed-rate mortgages inched up from last week's lowest rates of the year but are still hovering below historical lows, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 30:
  • 30-year fixed-rate mortgages: averaged 3.98 percent, with an average 0.5 point, rising from last week's 3.92 percent average. Last year at this time, 30-year rates averaged 4.10 percent.
  • 15-year fixed-rate mortgages: averaged 3.13 percent, with an average 0.5 point, rising from last week's 3.08 percent. A year ago, 15-year rates averaged 3.20 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.94 percent, with an average 0.5 point, rising from last week's 2.91 percent average. Last year at this time, 5-year ARMs averaged 2.96 percent.
  • 1-year ARMs: averaged 2.43 percent, with an average 0.4 point, up from last week's 2.41 percent average. A year ago, 1-year ARMs averaged 2.51 percent.
There is a ton of fear for some people when pulling credit and attempting to be approved for a home but now is the time to conquer that fear because really ITS NOT ALL THAT BAD!  I have a mortgage broker ready to help you purchase your new home and has a wealth of knowledge on loan programs that could even provide you with down payment assistance as well! 
Think you cant get approved? YOU WOULD BE SURPRISED! Contact me so we can get you started!
Denver Colorado Realtor -Michael Steffen 
Michael is a motivated realtor specializing in internet marketing for Real Estate Agents and purchasing in real estate for investors and new home buyers located in the following areas; DenverArvada Aurora Bennett Byers Castle Pines Castle Rock Centennial Cherry Hills Village Columbine Valley Deer Trail Denver Elbert Englewood Franktown Greenwood Village HighlandsRanch Larkspur Littleton LoneTree Parker Sedalia Sheridan Strasburg WatkinsWheat Ridge, Lakewood, Castle Rock, Thornton, Westminster, Evergreen, Golden. Michael Steffen 
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Generation Property Group

My name is Michael Ross Steffen. I’m an Exit Realty Cherry Creek Agent in the Denver metro area and Team Leader For Generation Property Group! We specialize in advanced Internet marketing, buying, s....

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