Mortgage Rates Drop Slightly

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 6.47% during the week ended Aug. 21, down from 6.52% during the prior three weeks. Meanwhile, the 15-year fixed mortgage rate slipped to 6.0% from 6.07% a week ago. Over the same period, the five-year adjustable mortgage rate fell to 5.99% from 6.02%, and the one-year ARM rose to 5.29% from 5.18%.

The Nashville real estate market has really lost some ground over 2007, it appears that we are in for a difficult Fall and Winter. We expect that mortgage rates will continue to fall as banks wrestle with liquidity and the Fed steps in to lend some help.

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Mortgage Rates Drop Slightly

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 6.47% during the week ended Aug. 21, down from 6.52% during the prior three weeks. Meanwhile, the 15-year fixed mortgage rate slipped to 6.0% from 6.07% a week ago. Over the same period, the five-year adjustable mortgage rate fell to 5.99% from 6.02%, and the one-year ARM rose to 5.29% from 5.18%.

The Nashville real estate market has really lost some ground over 2007, it appears that we are in for a difficult Fall and Winter. We expect that mortgage rates will continue to fall as banks wrestle with liquidity and the Fed steps in to lend some help.

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Historic US Home Values Chart
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Nashville Mortgage Rates Remain Unchanged

Freddie Mac reports that the 30-year fixed mortgage rate held steady at 6.52% during the week ended August 14. However, rates on 15-year fixed loans fell slightly to 6.07% from the prior week. Meanwhile, the five-year adjustable mortgage rate dipped to 6.05%, and the one-year ARM dropped to 5.18%.

In our humble opinion, these rates are not unattractive, but they are certainly not appealing enough to spur unexpected home purchases in Nashville. We look for the housing market to continue to slip over the next 6-9 months until a national recovery plan is actionable. Our friends at Cumberland Commercial are also telling us that there may be a commercial real estate bubble poised to burst in 2009.

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Nashville Mortgage Rates Remain Unchanged

Freddie Mac reports that the 30-year fixed mortgage rate held steady at 6.52% during the week ended August 14. However, rates on 15-year fixed loans fell slightly to 6.07% from the prior week. Meanwhile, the five-year adjustable mortgage rate dipped to 6.05%, and the one-year ARM dropped to 5.18%.

In our humble opinion, these rates are not unattractive, but they are certainly not appealing enough to spur unexpected home purchases in Nashville. We look for the housing market to continue to slip over the next 6-9 months until a national recovery plan is actionable. Our friends at Cumberland Commercial are also telling us that there may be a commercial real estate bubble poised to burst in 2009.

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Mortgage Rates Remain Steady

Freddie Mac reports that long-term mortgage rates held steady during the week ended August 7. Interest rates on 30-year fixed rate loans were unchanged from a week earlier, at 6.52%, but were down slightly from 6.59% at this time last year. Movement on borrowing costs for other types of loans was mixed, with the rate on 15-year fixed mortgages bumping up to 6.10% from 6.07% but the average interest on adjustable-rate products dipping. One-year ARMs dropped to 5.22% from 5.27%, while five-year ARMs settled at 6.05% compared to 6.07% last week.

It will be curious to see if these relatively unchanged mortgage rates trickle into the commercial real estate business. One thing is for sure though, the Nashville rental market is on fire!!

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Mortgage Rates Remain Steady

Freddie Mac reports that long-term mortgage rates held steady during the week ended August 7. Interest rates on 30-year fixed rate loans were unchanged from a week earlier, at 6.52%, but were down slightly from 6.59% at this time last year. Movement on borrowing costs for other types of loans was mixed, with the rate on 15-year fixed mortgages bumping up to 6.10% from 6.07% but the average interest on adjustable-rate products dipping. One-year ARMs dropped to 5.22% from 5.27%, while five-year ARMs settled at 6.05% compared to 6.07% last week.commercial real estate business. One thing is for sure though, the Nashville rental market is on fire!!

If you enjoyed this post, you may also like:
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It will be curious to see if these relatively unchanged mortgage rates trickle into the

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