Average long-term US mortgage rates inch up after declines

By M att O tt Associated Press

The Average

long-term U.S. mortgage rate ticked up slightly last week after four weeks of declines, a possible sign of stability that could draw in home shoppers with spring buying season weeks away.

Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate inched up to 6.12% this week from 6.09% last week. The average rate a year ago was 3.69%.

The average long-term rate reached a two-decade high of 7.08% in the fall as the Federal Reserve continued to raise its key lending rate in a bid to cool the economy and and bring down stubborn, four-decade high inflation.

At its first meeting of 2023 last week, the Fed raised its benchmark lending rate by a quarter point, its eighth increase in less than a year. That pushed the central bank’s key rate to a range of 4.5% to 4.75%, its highest level in 15 years.

While acknowledging that some measures of inflation have eased, Fed Chair Jerome Powell appeared to suggest last week that he foresees two additional quarter-point rate hikes this year. Though those rate hikes do impact borrowing rates across the board for businesses and families, rates on 30-year mortgages usually track the moves in the 10-year Treasury yield, which lenders use as a guide to pricing loans. Investors’ expectations for future inflation, global demand for U.S. Treasurys and what the Federal Reserve does with interest rates can also influence the cost of borrowing for a home.

The big rise in mortgage rates during the past year has devastated the housing market, with sales of existing homes falling for 11 straight months to the lowest level in more than a decade. Higher rates can add hundreds of a dollars a month in costs for homebuyers, on top of already high home prices.

The National Association of Realtors reported earlier this month that existing U.S. home sales totaled 5.03 million last year, a 17.8% decline from 2021. That is the weakest year for home sales since 2014 and the biggest annual decline since 2008, during the housing crisis of the late 2000s.

The rate for a 15-year mortgage, popular with those refinancing their homes, rose this week to 5.25% from 5.14% last week. It was 2.93% one year ago.

Deeds

Agawam

Alexandr I. Zgerya and Belana H. Mashitlova to Valentine Bialecki and Cristal Bialecki, 44 Greenock St., $320,000.

Alycar Investments LLC, to Bruce Arnold, trustee, and 232 Meadow Realty Trust, trustee of, 232 Meadow St., $350,000.

Charles W. Gibbs Jr., to Patricia Oliver and Robert Oliver Jr., 26 Castle Hill Road, Unit 26D, $280,000.

Christina M. Climo to Vincenzo Martino, 76 Corey Colonial, $210,000.

Hyman G. Darling, trustee, and David A. Ladizki Revocable Indenture Of Trust Of, trustee of, to D&A LLC, 54 Suffield St., $230,000.

Justin Mercieri, representative, Lorrie A. Rousseau, estate, and Lorrie Ann Mercieri, estate, to Donna-Danko Laporte and Francis Michael Bushey, 471 Meadow St., $240,000.

Amherst

Victor E. Guevara to Victor E. Guevara and Michelle Fame, 552 Flat Hills Road, $100.

Deborah L. Anderson, trustee, and Pocomo Road Nominee Trust to Kevin O’Brien and Mary O’Brien, 260 Leverett Road, $300,000.

Belchertown

Bette J. Hess to Gina M. Lord and Brett F. Lord, 111 Daniel Shays Highway, $100. Laliberte Home Builders Inc., to Christopher M. Stoddard, trustee, Michael P. Stoddard Family Irrevocable Trust and Patricia M. Stoddard Family Irrevocable Trust, 9 Sabin St., $739,000.

Buckland

Susan E. Atherton to Susan E. Ath- erton and Paul R. Sabin, trustees of the Atherton Farm 2023 Trust, 147 Ashfield Road, $100.

Chester

Susan Kucharski to Ann T. Russell, 45 Lynes Road, $117,000.

Chicopee

Antonio Valdez Cabral to Chi Dinh, 8 Pleasantview Ave., $235,000. At Home Properties LLC, At Homes Properties LLC, and Daniel P. Stamborski to Emmanuel Andujar, 19 Marten St., $390,000.

D Murphy Properties LLC, to Scott Motyka and Louise Motyka, 17 Woodbridge Road, Unit 17, $198,500.

Edward P. Katz Living Trust, trustee of, Susan J. Katz, trustee, and Lawrence B. Katz, trustee, to Katz Grattan LLC, 307 Grattan St., $100.

Emtay Inc., to April Corrine Tremblay-Davis, 57 Edbert St., $237,500.

Frank W. Valley and Julia T. Valley to Nicole Valley and Camilo Palacio, 73 Cyman Drive, $310,000.

John J. Ferriter, representative, and Richard H. Dandurand, estate, to J & R Homes Corp., 521-523 Springfield St., $172,300.

Ryan L. King, Amanda V. King and Amanda V. Wilcox to Hillary R. Ladeau, 44 Gardner Road, $270,000.

Sandra Dacier, Sandra J. Kaufmann and Sandra J. Kaufman to Roberto Manuel Rodriguez, 71 Acrebrook Drive, $275,000.

Colrain

High Pocket LLC, to Deborah Hamilton and Richard E. Hamilton, 72 Calvin Coombs Road and 22 Adams Place, $12,000.

Deerfield

Cynthia A. Sanderson, personal representative of the Estate of

Maryanne Ciesluk, to Barbara E. Ciesluk, 348 Pine Nook Road, $80,000.

East Longmeadow

Bruce R. Atkinson to John W. Stevens, 316 Somers Road, $186,903.

Joseph A. Giannetti to Eddie W. Leverett and Teresa Copeland Leverett, 171 Prospect St., $404,000.

Taylor M. Arrington to Niloofar S. Ghasemi, 377 Elm St., $255,000.

Tini-Jekejo Inc., and Tini-Tekejo Inc., to 595 North Main LLC, 595 N. Main St., $385,000.

Easthampton

Keystone Enterprises LLC, to 122 Pleasant Street LLC, 122 Pleasant St., $2,746,624.

Brian G. Lagueux to Joseph Erminio Cecchi and Kelly Elizabeth Hickey, 9 Garfield Ave., $351,000.

Wicked Deals LLC, to Villamora Homes LLC, 5 Plaza Ave., $279,900. 8 Industrial Parkway LLC, to D & R Mangement Co LLC, Industrial Parkway, $20,000.

Jonathan M. Conly to Jonathan M. Conly, trustee, and Jonathan M. Conly Trust, 11 Fort Hill Road, $100.

Gill

Deryl S. Young and Earl N. Young Jr., to Gong Hyun On, 61 South Cross Road, $70,000.

Alden D. Booth, trustee of the Alden D. Booth Investment Trust, and Elisabeth B. Greenough, trustee of the Elisabeth B. Greenough Investment Trust, to Cristina M. Marcalow and Robert B. Marcalow, 326 Main Road, $260,000.

Granby

Michael J. Curran to Brian J. Nash, 7 Sherwood Drive, $100.

Robert F. Sheehan Jr., and Nicholas R. Sheehan to Brianna Martin, 150 origination. Lock Days: 30-60. Annual percentage rates (APRs) are based on fully indexed rates for adjustable rate mortgages (ARMs). The APR on your specific loan may differ from the sample used. Fees reflect charges relative to the APR. If your down payment is less than 20% of the home’s value, you will be subject to private mortgage insurance, or PMI. FHA mortgages include both UFMIP and MIP fees based on loan amount of $165,000 with 5% down payment. VA mortgages include funding fees based on loan amount of $165,000 with