Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.60 percent from 4.61 percent. That’s the lowest point since mid-December. The average rate on the 15-year fixed mortgage, a popular refinance option, slipped to 3.78 percent from 3.80 percent. That marked the lowest level since late November. Rates have fallen for [...]
Mortgage rates rose this week to their highest level in 10 months, but the increase isn’t expected to derail strengthening in the battered U.S. housing market. Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 5.05% this week. That’s the highest since late April and up sharply from a modern record low of 4.17% in [...]
As interest rates fell below 5% last week, applications for US mortgages jumped to their highest level since late May. Low mortgage rates combined with high affordability and the $8,000 tax credit for first-time buyers have helped stabilize the housing market, but the tax credit deadline set to end November 30 masks uncertainty about the [...]
Fixed mortgage rates have fallen for three consecutive weeks and are approaching their lowest levels. The average 30-year fixed mortgage rate was 5.14% this week- compared to 6.26% last year at this time. Falling rates can spur refinancing activity, which is what happened in April when rates fell to 4.78%.
Mortgage rates inched slightly lower for 30-year home loans this week, but still remain above record lows posted during the spring. A 30-year fixed mortgage was 5.32% this week compared to last week’s average of 5.42%.
There’s no question that the housing market is suffering in this economy. With sky high mortgage rates, total home loan applications have decreased and the demand for refinancing hit the lowest level since November. http://news.yahoo.com/s/nm/20090610/bs_nm/us_usa_economy_mortgages
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