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Pasadena Mortgage Rate Update: January 1, 2008

Pasadena Mortgage Rate Update: January 1, 2008

The average Pasadena mortgage rate on a 30-year, fixed-rate mortgage dropped to 5.14 percent last week to a new record low, according to Freddie Mac.

A year ago, the rate was 6.17 percent for a comparable loan.

As a result, mortgage applications last week jumped to the highest level in five years, with more than 80 percent of the applications for refinancings.

There also was an 11 percent increase in applications for home purchase loans.

If you have questions about any of these Pasadena homes for sale, call Irina, Pasadena Real Estate Agent at 626-629-8439.

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Posted on January 1st, 2009
Posted by: Irina Netchaev

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