Rates Drop Below 5%

Mortgage rates fell this week, for the 3rd time, pushing the the 30-year fixed-rate  below 5%.

Treasury yields have declined recently, and mortgage rates generally follow.

The 30-year fixed-rate mortgage averaged 4.99%, down from 5.06% last and 5.12% last year. Rates for 15-year fixed-rate mortgages were 4.4%, down from 4.45% and 4.8%, respectively.

Additionally, the Mortgage Bankers Association stated application were up 9% compared to the previous.

For more information on mortgage deals on Philadelphia Real Estate contact Carena at 267-238-5785 or cmarchese@bankahb.com

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