US mortgage rates continue to decrease, accompanying President Obama’s announcement of reduced stimulus spending and tax increases. This trend of decreasing US rates contrasts the Canadian trend of increasing mortgage rates.
· 15-year fixed-rate mortgages were 4%, down from 4.03% in prior weeks
· 30-year fixed-rate mortgage averaged 4.54% down from 4.56% in prior weeks
· 5-year Treasury-indexed hybrid ARM mortgages are approximately 3.76%, down from 3.79% in prior weeks
· 1 year Treasury-indexed ARMs were 3.64%, down from 3.7% in prior weeks
Read a full description here.