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!!
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It will be curious to see if these relatively unchanged mortgage rates trickle into the
