Fed Bond Buying Sends East Cobb Mortgage Rates Lower

federal reserveFollowing the Federal Reserve’s announcement last week that it will continue its bond buying stimulus to keep homebuyer affordability high, the 30-year FRM averaged 4.32 percent, down from last week’s average of 4.50 percent.

The Freddie Mac Primary Mortgage Market Survey (PMMS), also showed the 15-year FRM averaged 3.37 percent, down from last week when it averaged 3.54 percent.

These lower rates will help offset the house price increases we have seen in East Cobb and most other metro Atlanta markets over the last several months.  The S&P/Case-Shiller 20-city composite house price index rose 12.4 percent over the 12-months ending in July – this represents the largest annual increase since February 2006.

If you need a referral to some excellent lenders who can get it done for you, reach out to me. I have great sources for Jumbo Loans and 100% Physician Loans as well.

 Robert Whitfield – Broker/Owner – Advantage Realtors