Athens GA Properties, Athens Georgia Homes, and Athens Real Estate

In a press release issued on 12/9/08, “mortgage rates fell again last week, hitting as low as 5.10 percent last Friday, after the government’s decision to purchase mortgage-backed securities. The weekly average rates for 30-year fixed mortgages declined to 5.34 percent, down from 5.53 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®. Rates for 15-year fixed mortgages decreased to 5.16 percent, down from 5.34 percent and 5-1 adjustable rate mortgages fell to 5.93 percent from 6.01 percent. This was all according to the  Zillow® Mortgage Rate Monitor.

      Mortgage Type     Average Rate           Average Rate        % Change
                    Week ending 12/7/08   Week ending 11/30/08
    30-year fixed                 5.34%                  5.53%        -3.5%
    15-year fixed                 5.16%                  5.34%        -3.5%
    5-1 ARM                       5.93%                  6.01%        -1.4%

Rates for 30-year fixed mortgages remained fairly steady on Monday evening with the average rate on Zillow Mortgage Marketplace at 5.33 percent as stated by Zillow.com.

At a state level, the 30-year fixed mortgage rate in Ohio had the biggest decrease, falling from 5.62 percent to 5.25 percent. Rates on 30-year fixed mortgages were lowest in the states of Georgia (5.19%) and Ohio (5.25%), while New York (5.44%) and New Jersey (5.40%) had the highest rates.

                   Average 30-yr. Fixed    Average 30-yr. Fixed
                           Rate                           Rate                     % Change
                   Week ending 12/7/08    Week ending    11/30/08 
    Georgia                      5.19%              5.41%                            -4.1%