Wednesday, August 15, 2012

Mortgage rates down this week- Los Angeles mortgagebroker

We regularly report the latest national mortgage rate news on our blog, for our clients to be informed about the context of mortgage rates in Los Angeles
Real estate website Zillow Inc. reported today that the rate on 30-year fixed mortgages in the U.S. slipped in the last week, but remained in the same tight range it has been in for the past few months. Zillow's real-time mortgage rates are based on average custom mortgage quotes submitted daily to anonymous borrowers through the company's website.
The 30-year fixed mortgage rate on its Mortgage Marketplace, based on real time reporting, dropped to 3.42% from 3.44% a week earlier. The rate hovered between 3.38% and 3.47% throughout the week, hovering above it's  all-time low of 3.34%, which it hit in July. Rates have remained in a tight range between 3.34% and 3.5% for nine consecutive weeks. Zillow's report today said the rate for a 15-year fixed home loan was 2.76%, down from 2.79% a week ago. The rate for a 5-1 adjustable-rate mortgage was 2.4%, also down from 2.46% a week earlier. 

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