Dublin, CA Mortgage Rates Drop For The First Time In 4 Weeks

Dublin, CA Mortgage Rates Drop For The First Time In 4 Weeks

Freddie Mac mortgage rates

After 4 weeks of rising costs, Dublin, CA mortgage rates finally recede.

Freddie Mac Rate Survey

According to Freddie Mac’s weekly Primary Mortgage Market Survey, the average 30-year fixed rate mortgage rate dropped 7 basis points to 3.59% this week. Depending on where you live, however, you may find that your offered mortgage rates varies. Freddie Mac’s “published rate” is a national average based on a survey of more 125 banks.

The rates you receive as an individual vary by bank, and vary by region.

Mortgage applicants in the North Central Region were most likely to get the lowest rates of all applicants nationwide last week. By contrast, applicants in the Southeast Region were most likely to get the highest rates.

Average mortgage rates in the five U.S. regions, as tracked by Freddie Mac :

  • Northeast Region : 3.59 percent for a 30-year fixed rate mortgage
  • West Region : 3.58 percent for a 30-year fixed rate mortgage
  • Southeast Region : 3.64 percent for a 30-year fixed rate mortgage
  • North Central Region : 3.57 percent for a 30-year fixed rate mortgage
  • Southwest Region : 3.61 percent for a 30-year fixed rate mortgage

Across all 5 regions, mortgage rates were quoted with an accompanying 0.6 discount points, on average, plus a full set of closing costs. 1 discount point is equal to one percent of your loan size. Closing costs vary by county.

Rates in Perspective

One year ago, the 30-year fixed rate mortgage rate averaged 4.22%. Today, it averages 3.59%. This 63 basis point difference yields a $36 monthly savings per $100,000 borrowed.

On a $250,000 mortgage, that’s $1,080 in savings per year.

If watched mortgage rates rise through August and felt as if you missed the market bottom, consider this week your second chance. The 30-year fixed rate mortgage does remains above its all-time low of 3.49 percent, but this week’s drop in rates in encouraging. It’s the biggest one-week drop in rates in more than 3 months.

I’m Here to Help You With Your Purchase or Refinance

I love to work with readers that find my information on the Mortgage and Housing Market helpful in your decision making process. As a Mortgage Planner at Vintage Mortgage Group in Pleasanton I am in a unique position to help you capitalize on historically low interest rates in 2012. Contact me below today to help you with your purchase or refinance.

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