Best Tax Deductible Home Improvements for Homeowners Before delving into tax-deductible home improvements, it’s important to understand that these tax deductions won’t be applied immediately.
Mortgage Rates Are Still Dropping
Home buyers may want to rush to lock in: The 30-year mortgage rate hit its lowest level in nearly seven months this week, Freddie Mac reports.
"The 10-year Treasury yield fell 3 basis points this week,” said Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate moved in tandem with Treasury yields, falling 5 basis points to 3.89 percent. Mixed economic data and increasing uncertainty are continuing to push rates to the lowest levels in nearly seven months."
Freddie Mac reports the following national averages with mortgage rates for the week ending June 8:
30-year fixed-rate mortgages averaged 3.89 percent, with an average 0.5 point, down from last week’s 3.94 percent average. Last year at this time, 30-year rates averaged 3.60 percent.
15-year fixed-rate mortgages averaged 3.16 percent, with an average 0.5 point, dropping from last week’s 3.19 percent average. A year ago, 15-year rates averaged 2.87 percent.
5-year hybrid adjustable-rate mortgages averaged 3.11 percent, with an average 0.5 point, holding the same average as last week. A year ago, 5-year ARMs averaged 2.82 percent.
Courtesy of Realtor Magazine
Latest Blog Posts
Should You Pay Discount Points When You Get Your Mortgage? One of the challenges you will face when deciding how much money to put down on your new home is whether to put down a larger down payment
What’s Ahead For Mortgage Rates This Week – April 16th, 2018 Last week’s economic reports included readings on inflation, the minutes of the most recent meeting of the Fed’s Federal Open