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Mortgage Rates

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BUSINESS
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
April 24, 2014 | By E. Scott Reckard
Fixed mortgage rates edged higher this week, with Freddie Mac reporting that lenders were offering 30-year loans to solid borrowers at an average of 4.33%, up from 4.27% a week ago. The average for a 15-year fixed loan rose from 3.33% to 3.39%, the McLean, Va.-based home finance company said Thursday .   Start rates for variable-rate loans were unchanged.   Helped by stimulus measures from the Federal Reserve, the 30-year rate dropped below 3.5% in late 2012, but as recovery set in it rose back above 4.5% by the middle of last year.
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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
April 23, 2014 | By Andrew Khouri
New home sales plunged in March, another sign the spring home-buying season has started with a whimper. Sales of recently built single-family homes fell 14.5% from February to a seasonally adjusted annual rate of 384,000, the Commerce Department said Wednesday. Sales dropped 13.3% compared with March 2013. The March data missed expectations, after economists predicted an increase from February as the home-buying season got underway. Quiz: How much do you know about mortgages?
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.
OPINION
April 23, 2014 | By Edward J. Pinto and Stephen D. Oliner
Even though the recent financial crisis is barely in the rearview mirror, risk is starting to build once again in both the U.S. mortgage and housing markets. Contrary to the prevailing view that only borrowers with pristine credit records can get a mortgage these days, many risky loans are still being made. A new index published by the International Center on Housing Risk at the American Enterprise Institute measures this risk month by month, based on about three-quarters of all home-purchase loans extended across the country.
BUSINESS
April 22, 2014 | By Jim Puzzanghera, This post has been corrected. See the note below for details.
The Federal Reserve's low interest rate policies, designed to stimulate the economy, have cost savers about $758 billion since the end of the Great Recession, according to a study released Tuesday. Inflation and low returns on deposits have led bank customers to lose more than $100 billion in purchasing power in each of the last five years, said MoneyRates.com, which provides consumers with information about bank rates, investing and personal finance. The Fed's benchmark short-term rate has been near zero since late 2008 as central bank policymakers tried to battle the financial crisis and Great Recession.
BUSINESS
April 3, 2014 | By E. Scott Reckard
Mortgage rates leveled off early this week, with the average for a 30-year fixed loan at 4.41%, a smidge above the 4.4% recorded a week earlier, Freddie Mac said. Freddie's survey of what lenders are offering to solid borrowers, released Thursday, showed that the average rate for a 15-year fixed mortgage rose from 3.42% to 3.47%. The survey's margin of sampling error is 5 basis points, or 0.05 of a percentage point, according to Freddie Mac spokesman Chad Wandler, which means that from a practical viewpoint this week's results were unchanged.
BUSINESS
April 3, 2014 | By Stuart Pfeifer
Barnes & Noble Inc. shares were sharply lower Thursday after a key investor said it was slashing its stake in the bookstore chain. Barnes & Noble, which operates 663 stores in 50 states, announced Thursday that Liberty Media Corp. had decided to sell about 90% of its shares of the company. Liberty Media, which had been considered one of the chain's biggest backers, bought a 17% stake in 2011. After the sale, it will hold less than 2%. Barnes & Noble shares were down $3.31, or 15%, to $18.80 at 10:30 a.m. PDT. The news comes as Barnes & Noble tries to navigate through the rapidly changing world for books and media.
BUSINESS
March 25, 2014 | By Andrew Khouri
Sales of recently built homes fell back in February, as harsh weather and high costs held back buyers. New-home sales dropped 3.3% from January to a seasonally adjusted annual rate of 440,000 last month, the Commerce Department said Tuesday. Economists had expected sales to drop after an unexpected surge in January.  Economists, though, anticipated a slightly better showing. The median forecast for those polled by Bloomberg News was for an annual rate of 445,000. January's rate was also revised downward from 468,000 to 455,000.  Quiz: How much do you know about mortgages?
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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