Thirty Year Fixed Mortgage Rate Continues Going Downhill

Online, July 19, 2012 (Newswire.com) - According to a latest study held by Primary Mortgage Market Survey, it has been revealed that the fixed mortgage rate is still on the decrease and in the coming time, it is expected to go even further down the hill. The average of thirty year rate that was fixed has been going down and has hit a new record of low in last eleven weeks. Dropping down to as low as 3.39 percent, down from the previous record of 3.43, this downfall in mortgage fixed rate is a shocker for the real estate world. The rate had an average of 3.56 - 3.62 percent once upon a time.

Market watchers and members such as Kecia & Co http://ida-homes.com/ are of the view that this recent fall isn't surprising. Since the bond yields have been falling lately, it isn't surprising to see the effects of it on mortgage rate. With the fall of bond yields, a drop in other rates is only natural. The fifteen and thirty year fixed rate was bound to meet a brand new low. It is being considered as the best time for the borrowers to step up and make a move for once the rate starts to increase again, lenders will start to increase product rates as well.

Five year treasury hybrid adjustable mortgage rate is currently at an average of 2.74 percent, making it about 0.6 points down from only last week. If compared to the rate a year ago, it was 3.29. One year treasury indexed falls in the average of 2.69 percent right now, falling about 0.4 points from last week. Usually during this time of year the rate averages at 2.95 percent. During the last month or so, only about 80,000 new jobs were included in the economy. This wasn't enough to bring down the unemployment rate.

About Kecia & Co

Kecia & Co is an Idaho based real estate consulting firm that provides complete guidance on residential and investment properties. The company also deals with online clients through its websites like ida-homes.com and provides hassle free services. You can contact Kecia &Co through Mobile: 208-615-5020 or Email: [email protected]