30 Year Mortgage Rates Drop to 4.32%

The average US 30 year mortgage rate falls to 4.32%. That is down .05 from the same time last week when the average rates were sitting at 4.37%. The 15 year mortgage rates also dropped from last week from 3.38% to 3.32%. This doesn’t mean more home are selling though. Even with the lower mortgage rates, home sales were down in February. The drop in existing home sales is mostly blamed on home pricing and winter weather.

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The decline in home sales is rather discouraging. This is the sixth month in the past seven months there has been a drop. There was a growth in home sales in the warmer climate areas like the West and in the South.

Overall, the average mortgage rates are actually up close to a full percentage point over the same time last year.

Christian

Christian

Christian Calvin mortgage Christian is a contributing writer for Mortgage.info. He is a graduate from the University of Tennessee with a degree in Communications and a concentration in Broadcasting. Christian has served as vice-president for a privately-held company for more than 20 years. Additionally, he has also applied his writing and business knowledge to various websites with a focus on business and sports news . . . both of which are passions. Christian enjoys playing golf and spending time with his family and friends.

Contact: christian@mortgage.info
Christian

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