Mortgage rates edge down by Elaine360

la-fi-mo-higher-rents-20120411-001Rates on 30-year fixed-rate mortgages averaged 4.32 percent with an average point of 0.6 for the week ending March 20, down from 4.37 percent last week but up from 3.54 percent a year ago, according to Freddie Mac’s latest Primary Mortgage Market Survey.

Rates on 15-year fixed-rate mortgages and five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans also decreased, while rates on one-year Treasury-indexed ARMs inched up.

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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 sell but a more difficult time to buy”