Mortgage Rate Update From Gary Simmens on 04-17-2020
30 year payout rate is down some. You can see the 15 year slightly went up.Probably due to high demand on refinancing.
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Mortgage Rate Update From Gary Simmens on 04-17-2020
Dated: 04/17/2020
Views: 184
30 year payout rate is down some. You can see the 15 year slightly went up.
Probablydue to high demandon refinancing. Stay Safe! Gary.
| | 04/16/20 (most recent)| Average Rate| Points & Fees| Margin ---|---|---|--- 30-Year Fixed Rate| 3.31%| 0.7| N/A 15-Year Fixed Rate| 2.80%| 0.7| N/A 5/1-Year ARM| 3.34%| 0.3| 2.75
| 04/09/20 (previous week)| Average Rate| Points & Fees| Margin ---|---|---|--- 30-Year Fixed Rate| 3.33%| 0.7| N/A 15-Year Fixed Rate| 2.77%| 0.6| N/A 5/1-Year ARM| 3.40%| 0.3| 2.75
| “Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening. While new monthly economic data are driving markets lower this week, they are a lagging indicator and should be priced in already. Real time daily economic activity metrics suggest that the economy will likely not decline much further. Going forward, the key question is no longer the depth of the economic contraction, but the duration.”
– Sam Khater, Chief Economist, Freddie Mac
Gary Simmens
Licensed since 18 years young, and a broker honors in NJ since his early 20`s, Gary has now, over 44 years experience, diversified in all aspects in real estate, including owning two offices and ma…
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