Everybody's got a different angle....
Mortgage Rates Mixed But Freddie Mac Sees Hope In Inventory Declines
Interest rates were up slightly this week according to the Freddy Mac Primary Mortgage Market Survey for the week ended October 26. The 30-year fixed-rate mortgage (FRM) ended the week averaging 6.40 percent compared to 6.36 the previous week. One year ago the 30-year FRM averaged 6.15 percent.
The 15 year FRM came in at 6.10 percent, 4 basis points higher than the week ended October 19. One year ago the 15-year was at 5.69 percent. Fees and points for both 15-year and 30-year products averaged 0.4 last week compared with 0.5 the previous week.
Mortgage rates see big drop
Slower-than-expected economic growth pushes rates down; 30-year fixed hits 6.31%.
November 2 2006: 11:43 AM EST
NEW YORK (CNNMoney.com) -- Mortgage rates reversed their recent upward trend, taking a sizeable drop last week, according to a survey released Thursday.
The 30-year fixed-rate mortgage (FRM) averaged 6.31 percent for the week ending Nov. 2, down from 6.40 percent, according to Freddie Mac's (Charts) Primary Mortgage Market Survey. A year ago, the 30-year FRM averaged the same level - 6.31 percent.
The 15-year FRM averaged 6.02 percent this week, down from 6.10 percent last week. A year ago, it averaged 5.85 percent.
What say you, fellow speculators?
I say don't speculate in real estate, if you must invest (not speculate) in a REIT, mine's up about 24% this year