Blog, Mortgage Rates
Mortgage Rates Creep Back Up
October 1, 2007 by admin · Leave a Comment
After hitting a four-month low of 6.31% two weeks ago, long-term mortgage rates continue to climb. Freddie Mac reports that interest on 30-year fixed loans spiked up to 6.42% last week from 6.34% a week ago, while 15-year fixed mortgages moved up to 6.09% from 5.98%. Contrary to the upward shift in long-term rates, initial interest on one- and five-year adjustable-rate mortgages dipped for the fourth week in a row, according to Freddie Mac. The Mortgage Bankers Association, meanwhile, says that ARMs continue to lose market share and currently are at their lowest level in about four and a half years!
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Grant Hammond, Broker, ABR, SFR, ePRO is a multiple award winning real estate broker and owner of Metropolitan Brokers, LLC in Nashville, TN. With career sales exceeding $285 million, Hammond places in the top 5% of real estate brokers nationally. Hammond is well known for exemplary personal service, consummate professionalism and a resolute commitment to his clients in the pursuit of fulfilling their real estate goals. Having represented more than 100 individual clients in just the past 3 years, he has the expertise, market knowledge and skill to understand the full scope of his clients' requirements - business and personal – to design a successful plan with every aspect in mind. 
