Zillow: 30-year FRMs drop for second week in a row

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7 point and compared to last week’s 2.61 percent and .7 point. The 5/1 ARM also broke to a new record low for the second week in a row, averaging 2.56 percent and .5 point compared to last week’s 2.58.

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Consider that a 30-year mortgage of $250,000 will result in almost $10,000 in interest payments over the first year at current market rates. And don’t forget your vacation home or the condo you bought for your aging parents, because you’re also allowed to use interest paid on.

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Why millennials are finally starting to settle down and buy homes. by By gail marksjarvis april 25, 2017 Fannie Mae predicts a "coming exodus of older homeowners" as Boomers die, downsize or enter retirement homes, which will dump a ton of housing stock on the market and crash prices, finally.

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Interest rates were rather volatile at the end of that week. On July 31, the rate on the 30-year FRM as tracked by Zillow. a drop in rates," said Fratantoni. "But you have to look at the other side.

Zillow: 30-year FRMs drop for second week in a row The average rate for 30-year fixed-rate mortgages matched its decline from the week prior, shedding 0.04 percentage points to remain under 5 percent at 4.93 percent. One year earlier, the rate was north of the 5 percent threshold at 5.04 percent.

Mortgage rates continued to retreat this week, pushed down by global financial concerns. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average. senior.