There is great news out there for people looking to buy homes for sale in Phoenix Arizona, Fayetteville Georgia, or anywhere else. Financing is still VERY cheap. Mortgage loans are still generally less than 5% interest rates, and are substantially less if you go with a 15 year fixed loan, or an ARM.

In Freddie Mac’s results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 4.51 percent with an average 0.7 point for the week ending June 30, 2011, up from last week when it averaged 4.50 percent. Last year at this time, the 30-year FRM averaged 4.58 percent. 15-year FRM this week averaged 3.69 percent with an average 0.7 point, the same from last week when it averaged 3.69 percent.

A year ago at this time, the 15-year FRM averaged 4.04 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage ARM averaged 3.41 percent this week, with an average 0.5 point, down from the previous week when it averaged 3.48 percent. A year ago, the 5-year ARM averaged 3.97 percent.1-year Treasury-indexed ARM averaged 2.97 percent this week with an average 0.6 point, down from last week when it averaged 2.99 percent. At this time last year, the 1-year ARM averaged 3.80 percent.

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