by Chris Montcalmo
Freddie Mac on Thursday released the results of its Primary Mortgage Market Survey, showing average fixed mortgage rates largely unchanged.
The 30-year fixed-rate mortgage (FRM) averaged 3.56 percent with an average 0.6 point for the week ending June 23, 2016, up from last week when it averaged 3.54 percent. A year ago at this time, the 30-year FRM averaged 4.02 percent.
The 15-year FRM this week averaged 2.83 percent with an average 0.5 point, up from last week when it averaged 2.81 percent. A year ago at this time, the 15-year FRM averaged 3.21 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.74 percent this week with an average 0.5 point, unchanged from last week. A year ago, the 5-year ARM averaged 2.98.
“Mortgage rates have been slow to adjust to the 10-year Treasury yield, which has increased 12 basis points since last week,” said Freddie Mac chief economist Sean Becketti. “This week’s survey shows the 30-year fixed rate inching up to 3.56 percent, only 2 basis points above last week’s average. The low rates continue to be good news for the housing market, as existing home sales rose 1.8 percent to a 5.53 million seasonally adjusted annual rate in the month of May — the highest level since February 2007.”
For more information on current Baltimore mortgage rates, contact mortgage consultant Chris Montcalmo by clicking here.
Emergency crews were on the scene of a dwelling fire in Edgewood on Thursday afternoon.
At about 1:15 p.m., units from the Joppa-Magnolia Volunteer Fire Company responded to the 1800 block of Grempler Way for a report of a fire.
At the scene, crews found smoke showing from the top floor of the end-of-group townhome.
Units from the Abingdon Fire Company and Fallston Fire Company also arrived on the scene and quickly got the blaze under control.
There are currently 35 firefighters working on the scene as well as 8 pieces of equipment.
No injuries were reported.
Police are investigating a robbery that took place along Belair Road in Nottingham earlier this week.
At about 9:30 a.m. on Monday, June 20th, an armed suspect entered the Salvo Auto Parts store located in the 7900 block of Belair Road.
The suspect stole cash from the cash registers before fleeing in a vehicle.
No other details are available at this time.
Anyone with information on this incident is asked to call police.
A 14-year-old boy from Essex has died after being found unresponsive in the deep end of a swimming pool.
Police responded to the Harbor Point Estates Community Pool along Nerbay Road just before 9:30 p.m. Monday night. When they arrived on the scene, they found an unresponsive boy next to the pool. He was transported to Franklin Square Hospital and then transferred to Johns Hopkins Hospital where he died Tuesday morning.
The boy has been identified as 14-year-old Meshach Praise Massally of Essex.
The investigation into this incident has indicated that Massally and other juveniles had entered the pool area after hours. Some people got into the pool while others threw pool furniture in. Massally, who could not swim, had been in the shallow end of the pool. He was later found in the deep end of the pool and pulled from the water.
This incident is under investigation by the Baltimore County Police Homicide Unit. The Homicide Unit investigates all sudden deaths of juveniles.