Recent Interest Rate News from HSH Associates

Excerpts from HSH Associates newsletter dated 11/3/06:

Although fixed mortgage rates dropped by a dozen basis points this week to land at 6.38%, you shouldn’t expect them to wait there for long, according to the latest data from the nation’s leading survey of mortgage pricing. Hybrid five-one ARMs tripped lower, too, easing 13 basis points to close the survey period at 6.16%. Both figures are close to their year’s low.Rates wended their way down this week in a fairly steady fashion, as each piece of soft economic data seemed to make it more likely that the next Fed move would be to cut interest rates amid a slowing economy.

                                                            Fixed Rate                   Variable

Survey Area 15 Year 30 Year Composite 1 Year Composite
NW/National 6.05% 6.38% 6.22% 5.95% 6.14%
CA/Statewide 6.09% 6.40% 6.26% 6.08% 6.16%

Data above include both conforming and jumbo loans for “A” credit borrowers and include a wide range of LTV and discount structures.

About mmegowan

I am a realtor with Remax Estate Properties in Palos Verdes Estates. Visit my website at http://www.maureenmegowan.com
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