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Mortgage Rates

BUSINESS
June 28, 2012 | By E. Scott Reckard
The news is generally improving on the home-finance front, with mortgage rates holding at all-time lows in the latest Freddie Mac report and bank regulators saying new foreclosures fell to a three-year low. The Freddie survey , released Thursday morning, showed lenders were offering 30-year fixed loans to solid borrowers at 3.66% on average, matching last week's record low. The 15-year fixed mortgage dropped from 2.95% to 2.94%, matching its...
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BUSINESS
June 14, 2012 | By E. Scott Reckard
Fixed mortgage rates ended a six-week string of record lows, with the latest Freddie Mac  survey showing lenders were offering 30-year home loans at an average 3.71% this week, up from 3.67% a week earlier. The low rates and depressed home prices have led borrowers to apply for more home loans than at any time since 2009, according to a Mortgage Bankers Assn. report , amid positive signs for housing markets. Still, nearly four in five applications were for new loans refinancing existing mortgages, not to buy homes.
BUSINESS
January 12, 2012 | By E. Scott Reckard
Another week, another round of record lows in the mortgage markets. Lenders were offering the 30-year fixed-rate mortgage to solid borrowers at an average rate of 3.89% this week, down from 3.91% last week, according to home lending giant Freddie Mac. That was the lowest rate on record since the survey began in 1971. Freddie Mac also reported record lows for the the 15-year fixed loan -- 3.16%, down from 3.23%. The initial rates on adjustable loans touched bottom as well. Loans that adjust yearly had starting rates averaging 2.76%, down from 2.8% last week, Freddie said in its report Thursday.
BUSINESS
August 2, 2012 | By E. Scott Reckard
Here's a reverse truism from Freddie Mac's latest mortgage survey : What comes down must eventually go up. Lenders were offering solid borrowers 30-year fixed-rate home loans at an average interest rate of 3.55% this week, up from 3.49% last week, the big loan buyer said Thursday. The rate on the 15-year fixed mortgage also rose, from 2.8% to 2.83%. The increase, a reaction to mixed news on Europe's debt woes and the domestic economy, reversed a powerful downward trend that had set or tied record lows in 13 of the previous 14 weeks.
BUSINESS
April 1, 2011 | By E. Scott Reckard, Los Angeles Times
Mortgage rates creep higher this week but the average cost of the mainstay 30-year fixed-rate home loan remains under 5% a year, Freddie Mac reports. Mortgage rates crept higher this week but the average cost of the mainstay 30-year fixed-rate home loan remained under 5% a year, Freddie Mac reported. The government-controlled housing finance firm said 30-year rates offered by lenders averaged 4.86%, up from 4.81% last week and 4.76% the week prior. The rate briefly topped 5% in February.
BUSINESS
October 29, 2010 | By E. Scott Reckard, Los Angeles Times
Interest rates on fixed-rate home loans edged higher for a second week after scraping bottom, but the cost of a popular type of adjustable-rate mortgage fell slightly, Freddie Mac said Thursday. Lenders surveyed by Freddie Mac this week were offering well-qualified borrowers interest rates on 30-year loans averaging 4.23% with 0.8% of the loan amount paid in upfront fees. Last week, the average was 4.21%. The rate on a 15-year fixed-rate mortgage rose to 3.66% from 3.64% last week.
BUSINESS
July 11, 2013 | By Alejandro Lazo
Fixed mortgage rates this week resumed their recent upward trend, with lenders offering 30-year home loans to solid borrowers at an average of 4.51%, according to Freddie Mac. The average rate, up from 4.29% last week and 3.56% a year ago, is more than a percentage point above last fall's record low of 3.31%. Rising rates could send more prospective buyers into the housing market in the short term while also making it harder to afford a home. Rising rates also are likely to cut into mortgage refinancing activity.
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