28 Nov U.S. Mortgage Rates Near Record Lows
Fixed mortgage rates in the United States moved slightly lower the first week of November, continuing to remain near their all-time low levels amid signs of a growing economy and low inflation. As EB5 regional center investors continue to flock to the U.S., the housing market continues to grow in their favor.
“Mortgage rates remained relatively unchanged this week (November 5) on signs of a growing economy and low inflation,” explained Freddie Mac chief economist Frank Nothaft. “The economy grew 2.0 percent in the third quarter with residential fixed investment contributing .3 percent points to growth. The core price index of personal consumer expenditures grew 1.7 percent between September 2011 and 2012 and was within the Federal Reserve’s preferred target range.”
The fixed rate mortgage for a 30-year loan averaged at 3.39 percent, with an average 0.7 point for the week ending November 1, 2012. The week prior, the FRM was at 3.41 percent. A year ago, 4.00 percent.
The FRM for a 15-year loan averaged 2.70 percent, with an average 0.7 point, down from the week prior’s 2.72 percent.
The five-year Treasure-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent the first week of November, with an average 0.6 point. The week prior, it was at 2.75 percent. The year prior, 2.96 percent.
As loan interest rates are at their lowest recorded rates, and housing prices are rising, or on the verge of gaining, EB-5 Regional Center investors should consider buying homes for their families now. Attainable housing prices and low interest rates on home loans are excellent incentives for individuals seeking U.S. immigration and investment.