Treasure Valley Properties | Treasure Valley Properties

With over two decades of experience in providing the highest level service in the local real estate industry, Treasure Valley Properties represents the continuing commitment to excel in our customer and community service. In conjunction with our pursuit of excellence, we bring a knowledgeable full service real estate team combined with professional partners in land acquisition, property management, and financial services.

Our mission is to provide the highest level of service in the industry while contributing to the excellence of living in the Treasure Valley.

We Create Community. We Are Community.

Corporate Blogs

Mortgage Rates For Week Ending June 14, 2007

Main / Mortgage Rates

Mortgage Rates Spike as Treasury Yields Rise-

Higher Rates May Slow Housing Recovery

McLean, VA Freddie Mac (NYSE:FRE) today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.74 percent with an average 0.4 point for the week ending June 14, 2007, up from last week when it averaged 6.53 percent. Last year at this time, the 30-year FRM averaged 6.63 percent. The 30-year FRM has not been higher since the week ending July 20, 2006, when it averaged 6.80 percent.

The 15-year FRM this week averaged 6.43 percent with an average 0.4 point, up from last week when it averaged 6.22 percent. A year ago, the 15-year FRM averaged 6.25 percent. The 15-year FRM has not been higher since the week ending July 6, 2006, when it averaged 6.44 percent.

Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) averaged 6.37 percent this week, with an average 0.5 point, up from last week when it averaged 6.24 percent. A year ago, the 5-year ARM averaged 6.23 percent. The 5-year ARM has not been higher since the week ending July 6, 2006, when it averaged 6.39 percent.

One-year Treasury-indexed ARMs averaged 5.75 percent this week with an average 0.7 point, up from last week when it averaged 5.65 percent. At this time last year, the 1-year ARM averaged 5.66 percent. The 1-year ARM has not been higher since the week ending July 27, 2006, when it averaged 5.78 percent.

(Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage.)

"Mortgage rates moved sharply upward this week, with rates on 30-year fixed-rate mortgages jumping more than 20 basis points, the largest upward movement in over three years," said Frank Nothaft, Freddie Mac vice president and chief economist. "These moves parallel rising yields on Treasury securities, as concerns about inflation pressures and continuing strength of consumer and business spending have dimmed hopes for an interest rate cut.

"Higher mortgage rates may weigh on the housing market's gradual recovery. While demand appears to have stabilized, inventories of new homes remain high, putting downward pressure on construction and home prices."

Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than four million renters in America.