Mortgage rates rise slightly – Irvine Real Estate News | Irvine Homes & Condos for Sale

by Robert Mack on December 1, 2010

in Buyers, Latest News, Sellers

Mortgage rates rose this week, but not enough to top a four-month high set two weeks ago.

Nationwide, the average rate on a 30-year, fixed-rate mortgage rose to 4.3 percent, up from 4.27 percent a week ago, according to, which has been tracking mortgages since April 2008.

Two weeks ago, the rate was at 4.4 percent.

The rate for a 15-year, fixed-rate mortgage is 3.68 percent, up slightly from 3.64 percent a week ago. The rate for a 5-1 adjustable-rate mortgage is 3.01 percent, dropping from 3.03 percent last week.

The rate on a 30-year mortage rose slightly in Pennsylvania week-over-week, from 4.25 percent to 4.28 percent.

I still can’t beleive how low interest rates are right now! I mean, when they were 6-7% everyone was still buying homes and now at 4.25% give or take a few hundreths of a decimal, they haven’t been this low since 1938. Keep this in mind…I tell all of my clients that Price is NOW but interest rates are long term. If you get a high interest rate you are paying a higher monthly payment each month and that does add up to be a huge amount after many years! Take advantage of the now and secure the lowest rates we have had in the last 60 years!

Posted on Irvine Orange County Real Estate Market News

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Post by Robert Mack

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