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Mortgage Rates

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May 1, 2009 | Times Wire Reports
The average rate on 30-year fixed-rate mortgages slid to 4.78% from 4.8% last week, tying the record low, mortgage company Freddie Mac said. Last year at this time, the average rate on a 30-year mortgage was 6.06%. The average rate on a 15-year fixed-rate mortgage was 4.48% this week, unchanged for the third straight week. Five-year, adjustable-rate mortgages fell to 4.80% from 4.85% last week -- the lowest since Freddie Mac began tracking it in January 2005.
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BUSINESS
March 13, 2014 | By E. Scott Reckard
Mortgage rates edged higher early this week, with Freddie Mac's survey showing lenders offering 30-year fixed-rate loans to solid borrowers at 4.37%, up from 4.28% a week earlier. The average rate for a 15-year fixed home loan rose from 3.32% to 3.38%, according to Thursday's report , and the start rate also rose for variable-rate loans with an initial five years at a fixed rate. Analysts said a positive report on employment late last week contributed to the trend. The economy added a better-than-expected 175,000 jobs in February despite harsh weather, the government said, and figures for the two previous months each were revised upward by 25,000.
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BUSINESS
February 23, 2012 | By E. Scott Reckard
Fixed mortgage rates are edging up from their record lows, this week's market surveys indicate. Freddie Mac's widely watched sampling of the rates lenders are offering to well-qualified borrowers  showed the average for a 30-year fixed loan at 3.95% for the week ending Thursday.  In the three previous weeks, the rate had been at an all-time low of 3.87%. The 15-year fixed mortgage averaged 3.19%, up from 3.16% last week. Popular with refinancers, the 15-year loan had bottomed out at 3.14% in the Freddie Mac survey for the week ending Feb.  2. The start rates on adjustable mortgages fell slightly, according to the report by Freddie Mac, a giant government-backed buyer and seller of home loans.
BUSINESS
February 19, 2014 | By Andrew Khouri
New home construction fell sharply in January, as severe weather across much of the country helped freeze development. Housing starts tumbled 16% from December to a seasonally adjusted annual rate of 880,000 last month, the Commerce Department said Wednesday. Last month's level was 2% lower than in January 2013. The decline was greater than economists expected. The median forecast of economists polled by Bloomberg News was for annual rate of 950,000 units. GRAPHIC: Southern California's housing recovery While economists said weather played a role in the poor numbers, there may be more behind the drop.  The housing market has shown signs of weakness lately, as buyers have struggled to adjust to higher prices and mortgage rates compared with a year earlier.
BUSINESS
April 19, 2012 | By E. Scott Reckard
Freddie Mac's latest survey shows fixed mortgage rates inched higher this week, with lenders offering 30-year loans to solid borrowers at an average 3.90%, up from 3.88% a week ago. The rate for 15-year loans rose from 3.11% to 3.13%. Borrowers would have paid about 0.75% of the loan amount in upfront lender fees to obtain the loans, Freddie Mac said. The weekly survey of lenders assumes that the borrowers have good credit and 20% down payments, or 20% home equity if they are refinancing.
BUSINESS
January 19, 2012 | By David Lazarus
Here's your 'cause-this-is-thriller Thursday roundup of consumer news from around the Web: --How low can it go? The average rate on the 30-year fixed mortgage fell again this week to a record low -- the eighth record low in a year. But even bargain-basement loans are failing to attract takers because most who can afford to buy or refinance have already done so. Mortgage buyer Freddie Mac says the average rate on the 30-year fixed mortgage dipped to 3.88% this week, down from the old record of 3.89% one week ago. The average on the 15-year fixed mortgage ticked up to 3.17% from 3.16%, which was also a record low. Records for mortgage rates date back to the 1950s.
BUSINESS
June 10, 2011 | By E. Scott Reckard, Los Angeles Times
How low can they go? Fixed mortgage rates fell for the eighth straight week in Freddie Mac's widely followed survey of lenders, with the 30-year home loan below 4.5% for the first time since early December. Freddie Mac said Thursday that the average rate being offered to well-qualified borrowers was 4.49%, down from last week's 4.55%. Loans fixed for 15 years were at an average rate of 3.68%, down from 3.74%. Borrowers would have paid 0.7% of the loan amount in upfront lender fees and points to obtain the rates, Freddie Mac said.
BUSINESS
September 2, 2011 | By E. Scott Reckard, Los Angeles Times
Mortgage rates are scraping along near historic lows, Freddie Mac says in its latest survey of what lenders are offering to well-qualified borrowers. The 30-year fixed-rate mortgage averaged 4.22% early this week, the same as the week before, and just above the 4.15% record low reached two weeks ago. The rate on a 15-year fixed mortgage dropped to 3.39% this week from 3.44% last week. Borrowers on average would have paid lenders 0.7% of the loan amount upfront to get a 30-year loan and 0.6% on a 15-year loan to get those rates, said Freddie Mac, the giant government-controlled finance company.
BUSINESS
September 6, 2012 | By Jim Puzzanghera
WASHINGTON -- Federal Reserve Chairman Ben S. Bernanke took advantage of historically low mortgage rates -- brought down by the central bank's near-zero interest rates -- to refinance his Washington condominium last year, according to his annual government financial disclosures. Bernanke and his wife, Anna, took out a new 30-year mortgage at 4.25% last year on the three-bedroom condominium in the nation's capital that they have owned since 2004, according to the disclosure form he filed with the Office of Government Ethics, and property records.
BUSINESS
January 30, 2014 | By E. Scott Reckard
Fixed mortgage rates fell for the fourth week in a row following the release of weaker housing data, according to Freddie Mac, which said lenders were offering 30-year fixed home loans to solid borrowers this week at an average of 4.32%. The Freddie Mac report was welcome news for potential borrowers who feared rates might rise as the Federal Reserve cuts back on its massive bond-buying program. The 30-year rate averaged 4.52% as the year began and was 4.39% last week. Lenders were offering 15-year fixed-rate loans at an average of 3.4% early this week, down from 3.44% last week, Freddie Mac said Thursday.
BUSINESS
January 16, 2014 | By Andrew Khouri
Home builder confidence slipped in January, in part on lower expectations for future sales, according to a trade group. The reading on the National Assn. of Home Builders/Wells Fargo Housing Market Index fell one point from December to 56 this month. December's rate was also revised down one point. Still, confidence among U.S. builders remains high, as new home sales have been strong recently. A level higher than 50 means more builders see the market for new, single-family homes as good rather than poor.
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