Bankrate
By Carrie Bay | 08/18/2011
Investors' growing appetite for the safety of U.S. Treasury bonds in the wake of European debt troubles and a stagnant economic recovery here in the U.S. have driven mortgage interest rates to their lowest level in over 50 years. Freddie Mac says both fixed- and adjustable-rate mortgages have reached all-time record lows, providing further incentive for homeowners looking to refinance. By the GSE's assessment, the 30-year rate is now averaging 4.15 percent and the 15-year rate is at 3.36 percent.
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By Carrie Bay | 08/11/2011
Turbulent financial markets served to push mortgage interest rates to new lows this week. Despite the much-ballyhooed downgrade by S&P, investors made a run on Treasuries to send yields plummeting, and the Federal Reserve pledged to keep a key interest rate near zero for two years. Both had a profound effect on mortgage rate trajectories. Freddie Mac puts the 30-year fixed rate at 4.32 percent, a new low for 2011, with the 15-year fixed and adjustable-rate mortgages setting all-time record lows.
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By Carrie Bay | 06/02/2011
The cost of borrowing for a fixed-rate home loan has slipped to its lowest level of the year yet again. Fixed mortgage rates dropped this week amid weak economic and housing reports, marking the seventh consecutive week they've headed lower. Market data released Thursday by Freddie Mac puts the 30-year fixed-rate at 4.55 percent and the 15-year at 3.74 percent.
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By Carrie Bay | 03/17/2011
Mortgage interest rates fell dramatically this week, dipping to a two-month low in one industry study and a three-month low in a separate market survey, as natural disasters devastated the East Asia island nation of Japan, the world's third largest economy. Frank Nothaft, Freddie Mac's chief economist, explained that with the crisis in Japan, investors rushed to buy the security of U.S. Treasury bonds, which allowed fixed mortgage rates to drift lower.
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By Carrie Bay | 03/10/2011
Interest rates on home loans remained relatively unchanged this week following February's strong employment report, according to industry data released Thursday. Freddie Mac's survey shows the average rate on a 30-year fixed mortgage edged up 1 basis point to 4.88 percent, while the 15-year rate held exactly the same at 4.15 percent. Bankrate reports that the larger 30-year jumbo rate settled slightly lower, dropping from 5.60 percent to 5.58 percent.
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By Carrie Bay | 03/03/2011
Interest rates on home loans continued their downward trend this week, marking the third straight week that they've headed lower. According to Freddie Mac's national survey, the average rate on a 30-year fixed mortgage came in at 4.87 percent for the week ending March 3. That's down from 4.95 percent the week prior. Freddie's chief economist says the drop means homebuyers could now expect to pay $263 less per year on a $200,000 loan.
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By Joy Leopold | 02/24/2011
For the second week in a row, mortgage rates continued to drop.
Freddie Mac reported the rates of 30-year fixed-rate mortgages fell to 4.95 percent (0.6 point), and Bankrate reporting a drop as well, from 5.16 percent last week to 5.09 percent (.45 point) this week.
The 15-year fixed rate mortgage averaged 4.22 percent (0.7 point) this week, down from last week's 4.27 percent.
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By Neal Caudle | 02/10/2011
Mortgage interest rates rocketed higher this week. Reports from Freddie Mac and Bankrate recorded significant jumps across all home loan products. Both companies' surveys showed that the average rate on a 30-year fixed mortgage has hit its highest level since April 2010. Some industry experts argue that rising rates could be a positive for the housing market. While the ascension will likely slow refinancing activity, it could be the nudge prospective homebuyers need to get off the fence and lock in lower borrowing costs.
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By Joy Leopold | 02/03/2011
This week, mortgage rates showed mixed results, according to a study released by Freddie Mac, which is compiled using data gathered from around 125 lenders across the country. Mortgage rate data released this same week from Bankrate, shows more steady rates, using data from the top 10 banks and thrifts in the top 10 U.S. markets.
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By Carrie Bay | 01/27/2011
For the second week in a row, mortgage interest rates have edged up, according to Freddie Mac. The average rate on a 30-year fixed mortgage climbed to 4.80 percent, while the 15-year rate increased to 4.09 percent. The GSE's chief economist attributed the rise to positive news on the economic front that suggests the recovery is gaining some traction and consumers are more confident in the job market. Bankrate reported that the larger jumbo 30-year fixed rate increased to 5.53 percent, after falling for three weeks in a row.
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