Where is the mortgage industry compared to this time last ye

jslaney02 · Joined: 19 Jul 2007 Posts: 1 1.28 Dollars($)

Where is the mortgage industry compared percentage wise to this time last year.

Samantha · Posted: Thu Jul 19, 2007 8:46 pm Post subject: RE: Mortgage rates overview 2007

Hi Jslaney,

The market has rolled back a part of the increase in mortgage rates that have been registered over the past 5 weeks.

The 30 year fixed rate loans which increased from 6.15% to 6.74% between May 10 and June 14 rolled back to 6.69% recently. The fees and points on these loans increased approximately from 0.4 to 0.5.

Just as 30 year loan, 15 year fixed rate mortgage rates have been reduced by 6 basis points from 6.43% rate of interest. The points and fees however increased from 0.4 to 0.5 for this kind of loan.

The biggest change was observed in the roll back of the 1 year Treasury-indexed ARM which decreased to 5.66% from 5.75% approximately.

Hope this helps..

God bless you.

Samantha

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