Mortgage Rate Remain Steady

The 30-year fixed mortgage rate held steady at 6.73% last week, which Freddie Mac chief economist Frank Nothaft attributes to recent economic data failing to have any impact on inflation forecasts. The five-year adjustable Nashville mortgage rate also stayed firm, averaging 6.35%. The 15-year fixed mortgage rate slipped a notch to 6.38% from 6.39%, while the one-year adjustable rate bumped up to 5.72% from 5.71%. The 30-year fixed rate was 6.80% at this time last year, while the 15-year rate stood at 6.41% and the five-year and one-year adjustable rates at 6.36% and 5.80%, respectively.

The HummerHomes Team is also very excited to announce our new Nashville commercial brokerage for wealthy individuals and small groups. Ask us how we can maximize your cash return on real estate in Tennessee!