Home-mortgage rates held stable this week, due to news that the economy improved and inflation remained in check at the end of last year, Freddie Mac's chief economist said on Thursday.
Rates on the 30-year fixed-rate mortgage averaged 4.81% for the week ended Feb. 3, up just slightly from 4.80% last week, according to Freddie Mac's weekly survey of conforming mortgage rates. The mortgage averaged 5.01% a year ago.
Fifteen-year fixed-rate mortgages averaged 4.08%, down slightly from 4.09% last week. The mortgage averaged 4.40% a year ago. Meanwhile, five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 3.69% this week, down slightly from 3.70% and the year-ago 4.27%. And one-year Treasury-indexed ARMs averaged 3.26%, unchanged from last week. The ARM averaged 4.22% a year ago.
To obtain the rates, the fixed-rate mortgages required payment of an average 0.8 point, the five-year ARM required an average 0.7 point and the one-year ARM required an average 0.6 point. A point is 1% of the mortgage amount, charged as prepaid interest.
In the fourth quarter, the economy grew at a 3.2% annualized rate, compared with 2.6% in the third quarter, and was led by a 4.4% gain in consumer spending. In addition, the core price index for consumer expenditures rose by an annualized rate of 0.4%, which was the smallest increase ever since records began in 1959, said Frank Nothaft, vice president and chief economist of Freddie Mac, in a news release. Housing was the most affordable on record in the fourth quarter of 2010, according to National Association of Realtors figures dating back to 1971, Mr. Nothaft added.
Article reprinted from Wall Street Journal online 2/3/2011
written by Amy Hoak
Thursday, February 3, 2011
Wednesday, February 2, 2011
Lisa Stafford #1 Realtor in Cranford!
Lisa Stafford, a sales professional with the Coldwell Banker Westfield –East office, has successfully listed and sold more homes in Cranford than any other realtor for the 2010 calendar year. Lisa has earned this distinction by having the highest number of successfully closed transactions in Cranford based on Garden State Multiple Listing data.
As a resident of Cranford, Lisa’s knowledge of the town, coupled with her marketing and negotiating skills, affords buyers and sellers the opportunity to achieve their goals in real estate.
Buying or selling a home in today’s market requires a top professional. For a confidential consultation to discuss your real estate needs, you can reach Lisa Stafford at the Westfield East Offfice.
As a resident of Cranford, Lisa’s knowledge of the town, coupled with her marketing and negotiating skills, affords buyers and sellers the opportunity to achieve their goals in real estate.
Buying or selling a home in today’s market requires a top professional. For a confidential consultation to discuss your real estate needs, you can reach Lisa Stafford at the Westfield East Offfice.
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| Lisa Stafford Realtor Associate Coldwell Banker Residential Brokerage Direct (908) 301-2044 Cell (908) 337-2021 Office (908) 233-5555 |
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