30-Year Mortgage Sinks to 4.19% This Week

Rates have dipped back down slightly this week, continuing at a quarter lesser than the beginning of 2014.  If you are considering purchasing, whether it be your first home or a move, now is a good time.  Experts state that they cannot guarantee when rates will rise again, but it is only a matter of time.

Mortgage rates are falling, despite the cuts to the Federal Reserve’s monthly bond purchases that were expected to send long-term rates higher.  The 30-year fixed-rate mortgage, the most popular choice among home buyers, averaged 4.19 percent this week, down from a 4.53 percent average at the start of the year, Freddie Mac reports in its weekly mortgage market survey.

Freddie Mac reports the following national averages with mortgage rates for the week ending Oct. 2:

  • 30-year fixed-rate mortgages: averaged 4.19 percent, with an average 0.4 point, dropping from last week’s 4.20 percent average. Last year at this time, 30-year rates averaged 4.22 percent.
  • 15-year fixed-rate mortgages: averaged 3.36 percent, with an average 0.5 point, holding the same average as last week. A year ago, 15-year rates averaged 3.29 percent.
  • 5-year hybrid adjustable-rate mortgages: averaged 3.06 percent, with an average 0.5 point, dropping from last week’s 3.08 percent average. Last year at this time, 5-year ARMs averaged 3.05 percent.
  • 1-year ARMs: averaged 2.42 percent, with an average 0.4 point, dropping from last week’s 2.43 percent average. A year ago, 1-year ARMs averaged 2.64 percent.

Down Payment Assistance – NHF Platimun Program


Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

The Storck Team is pleased to offer this wonderful opportunity to you.  If you have dreamed of owning a home in Aurora, Parker, Centennial, or anywhere in Colorado you may qualify for this grant.  Call The Storck Team today, let’s talk about your options!

Up to 5% GRANT for down payment and closing costs now available

The NHF Platinum Program is designed to provide down payment assistance in conjunction with the purchase of a primary residence.  Down payment assistance is provided in the form of a grant of either 3% or 5%.  Check out these details:

Program Funds:

  • 3% or 5% grant options available based on first mortgage amount
  • Program funds are available on first-come, first-served basis
  • No repayment of down payment assistance required

 Eligibility Requirements:

  • Occupancy: Principal Residence Only
  • Credit Score: 640 Minimum
  • Debt-To-Income: 45% Maximum
  • Income Limits Apply
  • Loan Limits Apply

 Eligible Area:

  • State of Colorado

Household Income Limit:

(Adams, Arapahoe, Broomfield, Denver, Douglas, Jefferson Counties)

  • $88,205

Mortgage Loan Types:

  • No Conventional Loans
  • 30 Year Fixed

 Loan Limit:

Lesser of:

  • $417,000
  • Loan Limits Set by FHA, VA, or USDA




First Time Home Buyer? Use these helpful hints to make your purchase a success!

Aaron Storck and Tatyana Sturm-Storck

Aaron Storck and Tatyana Sturm-Storck

Many first time home buyers are having a heck of a time in this market with inventories low, Aurora and other surrounding Denver areas are very much included in this.  Plus living in today’s recent grad world you most likely have student loan debt, making it hard to save up for your down payment.  It is still cheaper to purchase rather than continue to rent, according to experts by an average of 38%.

Read this article for help in how to get there!

Mortgage Rates: Where are they going now?

Storcks-smallHome buyers, do your homework.  Now might be the time to lock in a low rate! Market specialists are predicting that rates are going to continue to go up.  Included in this article is a really cool timeline of the history of US Mortgage rates.  It’s cool the see the trending, and a little scary I’ll admit.  With the Denver market being an emerging place to be and experiencing high population and job market growth, we could see a vast change in the market.

Check out the article from the Denver Post.

Average 30-year US mortgage rate up to 4.28 pct. Read more: Average 30-year US mortgage rate up to 4.28 pct. – The Denver Post http://www.denverpost.com/realestate/ci_25132043/average-30-year-us-mortgage-rate-up-4#ixzz2tp2m5Axf Read The Denver Post’s Terms of Use of its content: http://www.denverpost.com/termsofuse Follow us: @Denverpost on Twitter | Denverpost on Facebook

WASHINGTON—The average U.S. rate on a 30-year fixed mortgage edged up this week to 4.28 percent from 4.23 percent but remains near historically low levels after declining during the five previous weeks.
Mortgage buyer Freddie Mac said Thursday that the average for the 15-year loan was unchanged at 3.33 percent.

Read the full article here!

Are you thinking of purchasing your home this year?  Rates are starting to climb again after their recent dip.  Don't wait!  Call The Storck Team to get started today!

Aaron: 720-273-7419
Exit Realty


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