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Tim Phelps

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757-366-8690 tphelps@tidewaterhomefunding.com

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Mortgage Rates Remain Low, New Home Sales Jump

October 25th, 2012

Freddie Mac released the weekly Primary Mortgage Market Survey results on Thursday, October 25, 2012.  The 30-year fixed rate mortgage average rose to 3.41%.  The 15-year fixed rate rose to 2.72%.  http://www.freddiemac.com/pmms/

The Virginian-Pilot also reported that sales of new homes jumped in September to the highest level in more than two years.  The Commerce Department released figures on Wednesday indicating that new home sales in the U.S. rose 5.7 percent in September to a seasonally adjusted annual rate of 389,000.

http://hamptonroads.com/2007/10/pilot-business