Mortgage Rates Remain Steady

Freddie Mac recently released the results of its Primary Mortgage Market Survey showing average fixed mortgage rates remaining near their 65-year record lows and continuing to provide support for the housing recovery.  The 30 year fixed rate mortgage averaged 3.52 percent with an average 0.7 point for the week ending March 7, 2013.  Last year at this time, the 30 year fixed rate mortgage averaged 3.88 percent.  The 15 year fixed rate mortgage averaged 2.76 percent with an average 0.7 point.  A year ago, it averaged 3.13 percent.  The 5-year Treasury-indexed hybrid adjustable rate mortgage (ARM) averaged 2.63 percent with an average 0.5 point.  A year ago, the 5-year ARM averaged 2.81 percent. 

“These low mortgage rates are helping to revive the housing market.  For instance, the CoreLogic home price index rose 9.7 percent between January 2012 and 2013, marking the largest annual increase since April 2006,” says Frank Nothaft, vice president and chief economist, Freddie Mac. 

Epic Development is currently building in Buckhead, Lynwood Park, Brookhaven, LaVista Park, Old Fourth Ward, Ormewood Park, Decatur, Candler Park, Oakhurst, Sandy Springs and Virginia Highland.   View all the details of our current listings here.  For more information about homeownership or real estate investment in Atlanta call Jim LaVallee at 404-847-9080 or write Jim@EpicDevelopment.com. For more information about commercial real estate operations or investment visit EpiCity.com.

2017-08-29T17:44:31+00:00 March 13th, 2013|Uncategorized|