Mortgage rates ratcheted down last week according to the results of Freddie Mac's Primary Mortgage Market Survey. Rates have generally been on an upward trajectory since the mid December.
The 30-year fixed-rate mortgage (FRM) averaged 6.28 percent last week compared to 6.34 percent a week earlier while the 15-year FRM was 6.02 percent, four basis points lower than the week ended February 1. Fees and points for both FRMs were unusually low at 0.3 compared to 0.4 the week before. This time last year the average contract rate for the 30-year FRM was 6.24 percent and the 15-year was 5.83 percent.
To take advantage of these low rates please contact us at Midwest Mortgage.
Midwest Mortgage
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