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Mortgage News 4-15-2011
Mortgage News in Albuquerque, New Mexico with Vision Mortgage
With over 10 years of financial services experience between the two owners, Charles Davis and Mo Marwan will make your home buying and mortgage refinancing experience a pleasant one.
Mortgage Rates Hits Lowest Levels for 2011

Mortgage rates are at or below their lowest for the year, according to Freddie Mac’s weekly Primary Mortgage Market Survey (PMMS). The week ending May 5 saw rates slipping downward, down slightly from last week’s report, and at record lows for the year.

Freddie Chief Economist Frank Nothaft stated, “weaker economic data reports reduced Treasury bond yields and allowed mortgage rates to drift lower for the third consecutive week.” Rates tend to track treasury yields, which have been slipping in response to uncertain economic reports.

According to the PMMS, 30-year, 15-year, and adjustable rate mortgage rates were all down. FHA and VA loans also experienced a dip.

Before recent declines, rates had been trending upward, fueling speculation that the end of historically low mortgage rates is imminent. This recent dip presents an excellent opportunity to take advantage of low rates as the economy trudges toward recovery and rates inevitably rise. This is great news for those seeking financing as the home buying season begins.


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