Friday, August 10, 2012

Well, rates rose again this week, the second consecutive week of increase after a long line of reductions. However, as the headline above indicates, the increase was minuscule. The rates, quoted in a moment, are still very near historic lows and a very good reason for buyers to keep looking for homes and sellers to consider placing their homes on the market.
Now for the rates:
30 years fixed: 3.59%, compared to 3.55% a week ago; and 4.32% a year ago;
15 years fixed: 2.84% compared to 2.85% last week; and 3.50% a year ago. As the one year comparisons prove, even with the week to week rise, rates are still markedly under last year's rates, which were considered unheard of for their low level at that time.
Need advice or help? Call us; we'd be pleased to assist: Peter: (415) 279-6466; Jane: (415) 531-4091.


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