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Johnnie Creel & The Creel Group

865.694.5904 - 865.936.4116

Mortgage Rate Update

Last week, U.S. mortgage rates had a slight increase, but rates still remained near the all-time low for 2014, according to the Knoxville News Sentinel. Freddie Mac noted that the national average for a 30-year mortgage rose to 4.12% from 4.10%. which had held steady for the prior three weeks. If 30 years is simply too long or you are looking to refinance, the 15-year mortgage rates rose from 3.24% to 3.26%. The 30-year rate is still quite a bit lower than the 4.53% rate from the beginning of the year. Amazingly, rates have still dropped throughout the year (as a whole), despite the decrease of monthly bond purchases by the Federal Reserve.

To get the most up-to-the-minute mortgage rates, I suggest that you contact Kristin Abouelata with Mortgage Investors Group. You can even apply online in as little as 5 minutes!

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