Monday, 08 February 2010
Happy Monday! I hope your week has started off on a good note. This past weekend I was able to catch up on some business reading. I love to read especially what I call brain candy. Those are books for pure entertainment and I don’t have to do much thinking (unless of course it’s a murder mystery). I also read a lot of business books and magazines. I was reading Texas Realtor magazine and came across some cool trivia questions. I thought I would share some of them with you and throw in a little contest as well. The first person to email me at Yvette@YvetteAllenProperties.com with both questions answered correctly will get a $5 gift card to Starbucks. Let’s see how you do – it’s only 2 questions - no cheating. :-)
1. In 2008, the national average interest rate for a 30 year fixed rate mortgage loan was 6.03%. What was it in 1981?
a. 12.88%
b. 16.63%
c. 19.51%
d. 9.09%
2. Approximately 60% of today’s mortgage applications are approved. What was the percentage in 2003?
a. 55%
b. 68%
c. 79%
d. 85%
It’s interesting to see what mortgage rates were in previous years. Take a look at the average rates over the past four decades:
1970’s 8.90%
1980’s 12.70% (some people remember 19%!)
1990’s 8.12%
2000’s 6.33% (through September 2009)
Source: Real Estate Center at Texas A&M University
Mortgage rates continue to be low and the housing market in San Antonio continues to be steady. The mortgage rates are the lowest we have seen in 40 years. So if you are planning to buy or refinance your home take a look at the mortgage rates as of Friday – February 4, 2010.
Conventional 30 year fixed 4.75%
Conventional 15 year fixed 4.25%
FHA 30 year fixed 4.75%
FHA 15 year fixed 4.375%
VA 30 year fixed 4.875%
VA 15 year fixed 4.50%
Make it a great week!
Yvette
