MORE GOOD NEWS FOR REAL ESTATE MARKETS: NEGATIVE EQUITY RATES CONTINUE THEIR DECLINE

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NEGATIVE EQUITY RATES, OR OWING MORE ON YOUR HOME THAN IT IS WORTH, ARE DECLINING ACROSS THE COUNTRY GIVING OVER A MILLION HOME OWNERS NEW OPTIONS FOR SELLING OR REFINANCING THEIR HOMES.

Interest rates on home loans moved lower for the third week in a row in the latest weekly survey of lenders. Meanwhile, nearly 1 million more homeowners may now be able to sell or refinance their homes before mortgage rates begin to move higher, according to a new industry study.

Freddie Mac’s just-released weekly survey of lenders shows the following average rates for the most popular home loan terms:

  • 30-year fixed-rate mortgages averaged 3.93% with an average 0.6 point for the week ending Dec. 3, 2015.  A year ago, the rate averaged 3.89%.
  • 15-year fixed rates averaged 3.16% with an average 0.5 point. The same term priced at 3.10% a year ago.
  • 5-year adjustable-rate mortgages priced at 2.99% with an average 0.5 point. Last year at this time, the same ARM averaged 2.94%.

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Keith Kaplan

CalBRE #01933707
Sothebys International Realty
9255 Sunset Blvd.
West Hollywood, CA   90069

keith.kaplan@sothebyshomes.com

310-646-7791

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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