Summit Home Consultants
Following a few weeks of increasing mortgage rates, fixed rate mortgages remained at a constant rate this past week. The average of both 30 and 15 year fixed rate loans remained the same after a release of depressed news on the employment sector. According to Freddie Mac’s weekly survey, the average interest rate on a 30-year mortgage remained at 4.57 percent and 15 year mortgages stayed at 3.59 percent. All rates are based on loans with an 80 percent loan to ratio value. Additionally, an average of 0.7 points in discounts and fees were included in fixed rate mortgages.
