Mortgage Rate Update - September 30, 2019
September 30th, 2019 9:23 AM

US long-term mortgage rates fell last week following a rise the week before, making September the most volatile month for the key 30-year loan since March.

Mortgage rates have been running near historic lows, spurring prospective home buyers, amid an uncertain economic outlook. Mortgage buyer Freddie Mac said last Thursday that the average rate on the 30-year fixed-rate mortgage dropped to 3.64 percent from 3.73 percent last week. By contrast, the average rate stood at 4.72 percent a year ago.

The average rate for 15-year fixed-rate home loans declined last week to 3.16 percent from 3.21 percent the week before.

The average rate for five-year adjustable-rate mortgages fell to 3.38 percent from 3.49 percent.

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

Posted in:General
Posted by James M. Hanson on September 30th, 2019 9:23 AMPost a Comment

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