September 18, 2009 |
The average rate for a 30-year fixed mortgage this week was 5.04%, down from 5.07% a week earlier, mortgage company Freddie Mac said. The average rate on a 15-year fixed-rate mortgage fell to 4.47% from 4.5% last week, the lowest level on records dating to 1991. Rates on five-year adjustable-rate mortgages averaged 4.51%, unchanged from a week earlier. One-year adjustable-rate mortgages fell to 4.58% from 4.64%. The rates do not include add-on fees known as points. The nationwide fee for loans in Freddie Mac's survey averaged 0.7 point for 30-year loans and 0.6 point for 15-year mortgages.
May 22, 2009 |
Are mortgage rates on the way up or down? It depends on whom you ask. Two groups came out with their weekly mortgage rate surveys Thursday, with nearly a half-percentage-point difference between their averages for traditional 30-year mortgages. The good news, though, is that there seems to be consensus in the lending industry that mortgage rates aren't expected to change dramatically soon. Bankrate.
April 3, 2009 |
Rates on 30-year mortgages fell to the lowest level on record for the second consecutive week after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.78% this week, from 4.85% last week. It was the lowest in the history of Freddie Mac's survey, which dates back to 1971. Rates are down by more than a full percentage point from a year ago.
January 16, 2009 |
Rates on 30-year mortgages set a record for a fifth straight week by dropping below 5%, the lowest mark since Freddie Mac started tracking the data in 1971. Mortgage rates have been dropping since late November, when the Federal Reserve said it was going to pump money into the banking system by buying $500 billion in mortgage-backed securities to get banks to lend more money and perhaps aid the ailing U.S. housing market.