Mortgage rate of 30 years soars to 4.37%

It goes without saying, the mortgage rate in 2013 was about 3.51% and it was predicted that it might not cross the figure of 4 %. But, fortunately, the sudden change in purchasing power brought tremendous growth in the real estate business. In addition, Frank Nothaft the Chief economist of Freddie said that “it was magnificent growth since the July 2008”.
Meanwhile, the average growth on the 15 years mortgage has grown from 3.35% to 3.39% in the last week. Whereas, the five year Treasury indexed hybrid adjustable rate has continued to decline from 3.08% to 3.05%. Furthermore, the Freddie report claims that one year treasury indexed has turned down from 2.57% to 2.52%.