08 February 2008

Home Mortgage Rate Report for Tooele

The most current home mortgage rate report we could find for Tooele for you was Freddie Mac's Primary Market Survey, hope it's of interest.

Each week Berna and I get a report from the Utah Association of Realtors that is designed to help us do our jobs better. Those jobs of course (long term) are to help you in any way we can to buy or sell Real Estate. I say long term, because often times we don't get to that point for many months, sometimes years. In the meantime, we think our jobs are to provide you with the most accurate and timely information available in the Tooele Valley, so that when the time comes you are well prepared to enter into one of the most important decisions you and your family can make.

Thats the reason for this blog, and for our website. It's created and updated daily so that you have a resource when the time is right for you to buy or sell your new home. The following is this weeks report on mortgage rates provided to us by the UAR.

NATIONAL HOME MORTGAGE AVERAGES, FEB, 7, 2008 

 Closely following Treasury bond movements, long-term mortgage rates saw little change this week, said a Freddie Mac survey released today. The Primary Mortgage Market Survey reported that the 30-year fixed rate mortgage averaged 5.67 percent for the week ending today, only slightly down from last week’s average of 5.68 percent. A year ago, this rate averaged 6.28 percent.

At an average of 5.15 percent for the week, the 15-year rate saw little change from last week’s average of 5.17 percent. Last year at this time, the average 15-year fixed mortgage rate was 6.02 percent.

Adjustable-rate mortgages this week also saw rate decreases. The five-year ARM averaged 5.21 percent, down from last week’s average of 5.32 percent. The one-year ARM came in at 5.03 percent, down from last week’s average of 5.05 percent. A year ago, the five- and one-year ARMs averaged 5.99 percent and 5.49 percent, respectively

If you need a house to go with all of these great interest rates, you can see all the homes for sale in Tooele County visit our website and click on Tooele homes for sale, it's free and there is no registration. If you just want to chat, call us at 435-840-5029.

Thanks for being here. You can count on us to report any changes to home mortgage rates in Tooele County.

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