September 15, 2014 0likes 594 views For the past week, the average U.S. 30-year mortgage rate has remained the same for Boca Raton, FL home buyers. This is a rare and good thing because the mortgage rates are known for changing over and over again every single day. It has remained at 4.10% for the third straight week. On the other hand, the same cannot be said about the 15-year mortgage. Freddie Mac said that the average U.S. mortgage rate went down from 3.25 to 3.24. The 15-year mortgage is a popular choice for those in Boca Raton, FL who wish to refinance their homes. The 30-year mortgage rate is much lower than the 4.53 that it was at the start of the 2014 year. The mortgage rates have dipped lower even though the Federal Reserve has been cutting down its monthly bond purchases, which are intended to keep long-term rates low. The bond purchases are scheduled to end in October. The low mortgage rates have boosted the home sales in the U.S. Homes are more affordable as the Federal Reserve moderates the increases in home prices. How do the U.S. mortgage rates get calculated? According to Freddie Mac, their organization surveys mortgage lenders across the country between Monday and Wednesday each week. Keep in mind that the average rates do not include extra fees, known as points. The points are what most borrowers must pay to get the lower rates. One point represents 1% of the loan amount. The average fee for a 30-year home mortgage was 0.5 point and that was unchanging from last week. The average fee for a 15-year home loan fell to 0.5 point from 0.6 point. Of course the average rate for adjustable-rate mortgages are a little different. The average rate on a 5-year adjustable-rate loan was at 2.97% and the fee remained at 0.5 point. The average rate for a 1-year adjustable-rate loan was at 2.97% with a fee that went down to 0.4 point from 0.5 point. Ace Mortgage Loan Corporation is a mortgage company in South Florida that wants to continue to help Boca Raton, FL home buyers get the home financing they need to be able to buy the dream homes they would like to buy. If you would like more information on Ace Mortgage Loan Corporation and their mortgage services, call (954) 777-4774. Their staff is more than happy to assist you the best they can.