Wednesday, September 25, 2013

September 2013 News Letter



Economic recovery enters its fifth year
Freddie Mac recently released its monthly U.S. Economic and Housing Market Outlook, showing that despite the lackluster jobs recovery four years into the economic recovery, housing will continue to provide an increasingly positive boost to GDP in the second half of 2013.
Frank Nothaft, Freddie Mac vice president and chief economist commented, “The economic recovery has completed its fourth year, but it has not been without growing pains. The U.S. has experienced the weakest economic recovery coming out of a recession in the Post-War era. Despite the eye-popping monthly house price appreciation taking place in some parts of the country, the recovery that has lingered for years is just now starting for many Americans. Fortunately, we should see this positive housing trend continue to improve in the second half of the year. A housing recovery is a broad-based recovery, benefiting all Americans, and therefore the overall economy.”
Newsletter article photo

Monthly Mortgage Interest Rate Report

Data Provided by Freddie Mac's Primary Mortgage Market Survey®
 August 2013 (average)
Interest Rate
Fees & Points
Margin
 30 Year Fixed Rate
4.46 %
0.7
N/A
 15 Year Fixed Rate
3.49 %
0.7
N/A
 5/1-Year Adjustable Rate
3.21 %
0.5
2.75
 1 Year Adjustable Rate
2.65 %
0.4
2.76
For up-to-the-minute local mortgage interest rate information, contact:
 Anthony Piccone at Office: 856-322-0233 ext 101
 July 2013 (average)
Interest Rate
Fees & Points
Margin
 30 Year Fixed Rate
4.37 %
0.8
N/A
 15 Year Fixed Rate
3.43 %
0.8
N/A
 5/1-Year Adjustable Rate
3.17 %
0.7
2.75
 1 Year Adjustable Rate
2.66 %
0.4
2.76

This is not intended as an advertisement of interest rates as defined by Regulation Z, Section 226.24.
Data is provided by Freddie Mac's Primary Mortgage Market Survey (PMMS) and is provided for informational purposes only. The financial and other information contained herein speaks only as of the date posted herein. Freddie Mac, and/or the sender of this information, is not responsible for business decisions made based on the reported results of the PMMS. In general, the data presented is a monthly average and may not reflect mortgage rates, fees or points currently available. Average fees and points are provided to reflect the total upfront cost of obtaining a mortgage. Borrowers may still pay closing costs which are not included in the survey.

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