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 Real Estate Blog 
Sunday, March 15 2009
Mortgage Rates continue to fall. Interest rates are inching closer to 45 year lows. 
Here we have the latest rates for last week:
 
The average rate on a 30-year fixed rate mortgage dropped to 5.03 percent, excluding fees, during the week ended March 12, 2009, down from 5.15 percent the previous week. One year ago, the average rate was 6.13 percent.
 
Rates on 15-year fixed rate home loans averaged 4.64 percent, a decrease from 4.72 percent the week before. Last year at this time, the average rate was 5.60 percent.
 
The average interest rate on a one-year adjustable rate mortgage fell to 4.80 percent, down from 4.86 percent last week. During the same week of 2008, the average rate was 5.14 percent.
 
From a good colleague of mine at Countrywide Bank, FSB I received the following rates:
 
Purchase:
 
Conforming
               
4.875% 30 yr, no pts, no origination fee
4.625% 1 pt
 
4.5%        15 yr, no pts, no origination fee
4.375%         1 pt
 
 
FHA
5.0%         30 yr, no pts, no origination fee
 
 
Rural Housing
4.75%        30 yr, no pts, no origination fee
 
At present Rural Housing is about the only mortgage were no down payment is required. In some way it limits buyer’s location choices to certain areas but at the same time the no down payment requirement is a major draw.
Posted by: Rolando Trentini AT 02:00 pm   |  Permalink   |  0 Comments  |  Email
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The Trentini Team
F.C. Tucker EMGE REALTORS®
7820 Eagle Crest Bvd., Suite 200
Evansville, IN 47715
Office: (812) 479-0801
Cell: (812) 499-9234
Email: Rolando@RolandoTrentini.com


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