WASHINGTON – Rates on 30-year mortgages fell for a fourth consecutive week as a slowing economy eased concerns about inflation.
Mortgage giant Freddie Mac said Thursday that 30-year, fixed-rate mortgages fell to 6.52 percent this week from 6.55 percent last week.
That was the lowest level for 30-year mortgages since they averaged 6.49 percent the week of April 13.
Mortgages had been rising since April, hitting a more than four-year high of 6.80 percent the week of July 20 before easing down.
People
Gene Kulinovsky has joined the Everett office of Coldwell Bankler Bain.
Tony Blodgett has joined Mortgage Advisory Group in Everett as a mortgage adviser.
News
The U.S. Department of Housing and Urban Development has raised the limits for FHA mortgages in Snohomish, King and Pierce counties. It’s now at $360,950 for a single-family home. That would allow people to buy a home priced at $372,113 with an FHA mortgage if they pay the required 3 percent down payment. This is the third time the limits have been raised this year to keep up with rising home prices.
Send your real estate news to Mike Benbow, Business editor, The Herald, P.O. Box 930, Everett, WA 98206
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