Motgage Rates

According to the Washington Realtors Association 30-year fixed-rate mortgage averaged 3.88 percent with an average 0.8 point in fees for the week ending January 19, 2012, down from last week when it averaged 3.89 percent. Last year at this time, the 30-year FRM averaged 4.74 percent. 15-year fixed rate mortgages this week averaged 3.17 percent with an average 0.8 point, up from last week when it averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.05 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.7 point, matching last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 3.69 percent. 1-year Treasury-indexed ARM averaged 2.74 percent this week with an average 0.6 point, down from last week when it averaged 2.76 percent. At this time last year, the 1-year ARM averaged 3.25 percent. What a great time to buy!! Rates are the best they have ever been and prices have dropped back to what they were in 2004. Check out my website www.DennisGouldRealEstate.com or just use the search form at the top of this blog to find your dream home. d