Rates on 30-year mortgages average under 5 pct
Rates on 30-year fixed mortgages fell slightly this week, dipping below 5 percent, the mortgage financier Freddie Mac said Thursday. Visit www.TheLaJollaLife.com to set up a FREE property search for over 20,000 listing is San Diego & La Jolla, CA.
The average rate on a mortgage-backed securities to try to keep rates low and make home buying more affordable. That program is set to end March 31. 
Low rates also can spur refinancing activity. More than two out of three mortgage applications were for refinance transactions over the first six weeks of this year, according to the 15-year fixed-rate mortgages fell to 4.34 percent from 4.40 percent last week, according to Freddie Mac.
Rates on five-year, adjustable-rate mortgages averaged 4.19 percent, down from 4.27 percent a week earlier. Rates on one-year, adjustable-rate mortgages rose to 4.33 percent from 4.22 percent.
The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 point for 30-year mortgages. It averaged 0.6 point for 15-year, five-year and one-year loans. Visit www.TheLaJollaLife.com to set up a FREE property search for over 20,000 listing is San Diego & La Jolla, CA.
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