Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage (FRM) averaging 6.15% with an average 0.5 point for the week ending May 10, 2007, down only slightly from the prior week when it averaged 6.16% in Brentwood, Tennessee.
Last year at this time, the 30-year FRM averaged 6.58%.The 15-year FRM on Friday averaged 5.87% with an average 0.5 point, unchanged from the previous week when it averaged 5.87%. A year ago, the 15-year FRM averaged 6.17%.”Low employment growth in April – the slowest pace since November 2004 – and downward revisions to both February and March job growth tempered market concerns of future increases in the rate of inflation,” said Frank Nothaft, Freddie Mac vice president and chief economist. It is time to start looking for real estate vulture funds to take hold. “As a result, mortgage rates were little changed this week.”
Visit our website dedicated to Nashville Home Loans and Mortgages to find the latest rates and to speak with Melissa Boudreaux of Countrywide Home Loans. We make it easy to buy Downtown Nashville Real Estate.
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