Mortgage Rates for November 4th have pretty much held steady.
This weeks average rates according to the Primary Mortgage Market Survey from Freddie Mac are as follows.
|November 4, 2010||30-Yr FRM||15-Yr FRM||5/1-Yr ARM||1-Yr ARM|
|Average Rates||4.24 %||3.63 %||3.39 %||3.26 %|
|Fees & Points||0.8||0.7||0.6||0.7|
Last week the rates looked like this.
- 30 year – 4.23%
- 15 year – 3.66%
- 5/1 ARM – 3.41%
What can we expect from here on out?
The huge swing of power in the elections are sure to affect consumer confidence, which in turn will affect the economy and eventually trickle into interest rates.
As things start unfolding we will be sure to let you know the details.
Until then it is a great time to take advantage of purchasing a new home or refinancing your existing home.