Sorry it has been so long since our last post. It’s been a busy month. We plan to post more often over the coming months to help get the word out about our group and keep consumers abreast of current happenings in the real estate market. Let’s get started by taking a look at mortgage rates from the past week. Freddie Mac just released their weekly mortgage rate survey which showed mortgage interest rate averages remaining barely unchanged from the previous week. The agency reported a 30 year fixed rate average of 4.51% with 0.7 points. This was up .01% from the previous week. 15 year fixed rate averages remained unchanged at 3.69% with 0.7 points. 5 year treasury indexed ARM rate averages headed the opposite direction falling from 3.25% down to 3.22% with 0.6 points.
Freddie Mac’s VP, Frank Nothaft commented that “interest rates on 30-year fixed mortgages hovered around 4.5 percent for the fourth consecutive week following mixed reports on the strength of the economy. First quarter economic growth was revised up in the final estimate, but growth in consumer spending stagnated in May while April’s figure was revised downward; consumer expenditures account for roughly two-thirds of the nation’s gross domestic product.”
At the Decker Group we have had a busy month with clients looking to refinance their existing mortgages and a number of new buyers gearing up to purchase homes in the area. Please don’t forget that we offer more than just McKinney TX mortgage financing assistance. First United Bank Mortgage Company serves the entire State of Texas. Give us a call today at 972-591-3097 for a free quote and consultation.