Bookmark and Share Contact Palm Beach Business.com by phone: 561 450-8258. By email.

 

Mortgage rates hold steady, but could fall off 'cliff'

By Palm Beach Business.com

DELRAY BEACH — Mortgage rates pretty much stayed in place over the past week but that’s likely to change as financial markets begin to focus on the potential crisis called the fiscal cliff.

Freddie Mac ’s Primary Mortgage Market Survey found the 30-year fixed-rate mortgage averaging 3.40 point, with 0.7 point, up from last week’s 3.39 percent. Bankrate put the 30-year at 3.57 percent with 0.40 point, same as a week ago.

The 15-year fixed-rate ticked down to 2.69 percent with 0.7 point from 2.70 percent a week ago, according to Freddie Mac. Bankrate had it at 2.85 percent with 0.32 point, down from 2.89 percent last week.

Bankrate noted that with the presidential election out of the way, the next big thing the financial markets will be watching is the approaching deadline to resolve the budget crisis and the expiration of the Bush era tax cuts. Jitters over the possibility that Congress won’t be able to resolve the crisis could move Treasury yields lower as investors seek a safe harbor for their money. Falling Treasury yields typically means lower mortgage rates.

ad for delray networking stars

 

coming soon the daily bulletin


ad for newsletters

Keep up with YOUR community. Receive our FREE email newsletters!
For Email Marketing you can trust

Follow us on TwitterPalm Beach Business.com on LinkedIn
FOLLOW US ON FACEBOOK


ad for palm beach business.com
Openings at $75K to $500K+

Hot Offers
CompUSA Best sellers
DELRAY'S ONLINE BUSINESS AND COMMUNITY NEWSPAPER — PALM BEACH BUSINESS.COM
   
palm beach business.com
NOVEMBER 3, 2012 click to go home
 
         
click to go back to the top
Delray's Online Business and Community Newspaper