According to data from the Mortgage Bankers Association, U.S. long-term mortgage rates fell for the sixth consecutive week, with the key 30-year loan average running below 4% and at its lowest point since
September 2017. The average rate for 15-year, fixed-rate home loans declined this week to 3.28% from 3.46%. The recent rush into the bond market has pushed up bond prices and depressed their yields. The yield on the 10-year Treasury
note, which influences mortgage rates, was 2.12% late Wednesday.
The average rate for five-year adjustable-rate mortgages fell to 3.52% from 3.60% last week. The fee was steady at 0.4 point.
For all your Residential and Commercial Real Estate Appraisal needs please contact:
James M. Hanson Associates, Inc.
Phone: (609) 884-9185
Community Resource Links
Cape May Chamber of Commerce
Cape May County Chamber of Commerce
Avalon Chamber of Commerce
Atlantic City Chamber of Commerce