The Buyer's Agent Asheville North Carolina“Fixed mortgage rates eased a bit for the fifth consecutive week as reports that existing home sales are up 1.3 percent but not as much as expected,” says Frank Nothaft, Freddie Mac’s chief economist. “As the spring home buying season continues, we see stronger consumer confidence as house prices remain on the rise.”

Freddie Mac reports the following national mortgage rate averages for the week ending May 29:

  • 30-year fixed-rate mortgages: averaged 4.12 percent, with an average 0.6 point, down from 4.14 percent last week. Last year at this time, 30-year rates averaged 3.81 percent.
  • 15-year fixed-rate mortgages: averaged 3.21 percent, with an average 0.5 point, dropping from 3.25 percent the previous week. A year ago, 15-year rates averaged 2.98 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 2.96 percent, with an average 0.3 point, holding the same as last week. Last year at this time, 5-year rates averaged 2.66 percent.
  • 1-year ARMs: averaged 2.41 percent, with an average 0.4 point, dropping from last week’s 2.43 percent average. A year ago, 1-year ARMs averaged 2.54 percent.

Source: Freddie Mac

The Buyer’s Agent of Asheville is dedicated to help home buyers just like you, find  the perfect address. We don’t accept listings, so there is no reason or incentive for us to focus on a specific home. Our single goal is to help you find the best home at the best price. With our team of 10 experienced real estate brokers, The Buyer’s Agent of Asheville has been loyally assisting home buyers in the Asheville, North Carolina area. Make an appointment to visit our offices at 82 Patton Ave, Suite 211, Asheville (map) or call us 24/7 at (828) 210-4663.