Freddie Mac released the results of the Primary Mortgage Market Survey (PMMS) for the past week and once again, mortgage rates have attained all-time record lows, surpassing the previous record lows seen in August 2011.
30-year fixed-rate mortgages (FRM) averaged 4.12 percent with an average 0.7 point for the week ending September 8, 2011, down from last week when it averaged 4.22 percent. Last year at this time, the 30-year FRM averaged 4.35 percent.
15-year FRM this week averaged 3.33 percent with an average 0.6 point, down from last week when it averaged 3.39 percent. A year ago at this time, the 15-year FRM averaged 3.83 percent.
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week, with an average 0.6 point, the same as last week when it averaged 2.96 percent. A year ago, the 5-year ARM averaged 3.56 percent.
This is welcome news for those who have good credit and are looking to refinance existing loans or purchase a new home. There are still great buys to be had and some of my favorite Culver City listings on the market right now include:
• Remodeled 3 bedroom, 2 bath home in Culver West area of Culver City for under $600,000.
• Carlson Park 3 bedroom, 1 bath, 1,374 square foot home. Submit immediate offer for this short sale listed under market value.
• Veterans Park 3 bedroom, 1.75 bath in Farragut School district listed at $675,000.
• Professionally refurbished Veterans Park home. 3 bedroom, 1.75 bath, 1,518 square feet .
• 3 bedroom, 2 bath Lindberg Park home with over 2,000 square feet just reduced by $100,000!
To view any of these homes or to set up a free market evaluation for your particular situation, contact me directly by voice or text at 310-259-7419. You can also email me at [email protected].
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