Mortgage Rates Continue to Fluctuate
Mortgage interest rates have been in the news quite a bit lately, and mostly positive. The 2014 US annual average on a 30-year fixed rate mortgage increased to 4.17%, however, the rates have been trending downward. As of last week, the interest rate was 3.63%, the lowest it had been since May 2013.
For a historic perspective, 20 years ago the interest rate was more than doubled at 8.38% with a 20-year average of 6.19%. The 5/1 ARM rate is now down to 2.83% as of January 22nd, which is quite attractive.
If you are ready to see how much condo you can afford and start the pre-qualification process, drop use a line. The SCL team has partnered with exceptional condo loan officers with Seattle’s top condo mortgage companies including Caliber Mortgage, Wells Fargo Home Mortgage and First Security Bank.
