Hello from Crested Butte,
The weekly average rate borrowers quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages decreased last week to 5.17 percent, down from 5.19 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 fell to 4.57 percent from 4.59 percent, and 5-1 adjustable rate mortgages remained flat at 4.17 percent.
Thirty-year fixed mortgage rates varied by state. Colorado mortgages reflect a slighthly lower rate range: 5.14% to 5.15%.
In other mortgate related news, Colorado’s Division of Real Estate deactivated 4,500 mortgage brokers on Monday because they failed to meet new state requirements. The number of licensed mortgage brokers in Colorado was cut in half with the move. Read the details here.
Thanks for visiting,
Channing in Crested Butte
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