For Alaska Homeowners 30-Year Fixed Mortgage Rates Are Falling, But Aren’t Quite Record Low Yet

Although mortgage rates for Alaskan Homeowners are still above the record lows, 30-year fixed mortgage rates are decreasing. Note: these rates do vary state by state. Fifteen-year fixed mortgage rates fell as well this week, as did 5-1 adjustable rate mortgages. Georgia’s thirty-year mortgage rates were the lowest, at 5.32%. At this time last year the average rate for a thirty-year fixed was 6.37%. The average rate this week was 5.2% – not quite as low as the record low of 4.78% from early spring.

Rates rose this past June due to the yields on long-term government debt climbing; investors became concerned that large amounts of extra government debt would trigger inflation.

Experts speculate that mortgage rates fell this past week from market concern due to the weakening labor market.

As for your interest in rates, keep in mind that the above does not include any add on fees called “points”. The average nationwide fee for a 30-year fixed rate mortgage and 15-year fixed rate mortgage averaged 0.7 of a point, while 5-1 adjustable rate mortgages averaged 0.6 of a point.

And for Mat Su Valley AK Homes please contact the Kristan Cole Team today!

For more information on mortgage rates have a look at Zillow.