Mortgage Lending

Mortgage rates fell again this week for a 30-year fixed rate to 3.83 percent, which is down 8 basis points from last Wednesday. It was actually lower earlier in the week before finding its current position. This happens to be the lowest level since June. If the GDP is looking good this week we can expect an increase in the rate.

 The 15-year fixed rate is 2.97 percent, and 5/1 ARMs, the rate is 2.84 percent. Not much change in these mortgages.

 Stay tuned next week for another update.

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