Here are my updates for November 6th, 2012
Current Market Rates
The rates used to set adjustable rate mortgages (ARMs) showed mixed signals in September 2012. The 6-Month Treasury Bill and the Treasury Securities Yield remained level, the 12-Month Treasury Average increased and the London Inter-Bank Offered Rate (Libor) decreased. Rate changes in October will indicate if ARMs rates have finally reached their bottom after dropping for over a year.
The average 30-year commitment rate is the rate at which a lender commits to lend mortgage money in the United States-West as reported by Freddie Mac. The western region includes CA, AZ, NV, OR, WA, UT, ID, MT, HI, AK, and GU. More information is available on Freddie Mac’s Primary Mortgage Market Survey report.
For the full analysis, click here.
Senior Director, Coldwell Banker New Homes Division
With over 200 condominium, townhome and loft projects successfully marketed
“Fewer properties for sale with such remarkably low interest rates make it a great time to buy and not a bad time to sell”