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  • Phi Asset Managers 10:13 am on October 6, 2011 Permalink | Reply
    Tags: Mortgage Rates   

    30 years from now 

    Derek Kravitz, AP Real Estate Writer, On Thursday October 6, 2011, 11:09 am

    WASHINGTON (AP) — The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time ever, to 3.94 percent.

    For those who can qualify, it’s an extraordinary opportunity to buy or refinance. And mortgage rates could fall even further now that the Federal Reserve plans to reshuffle its portfolio of securities to try and lower long-term rates.

    On Thursday, Freddie Mac said the average rate on a 30-year fixed mortgage dropped from 4.01 percent last week, the previous low. The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26 percent, also a record.

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  • Phi Asset Managers 9:52 am on September 29, 2011 Permalink | Reply
    Tags: , , Mortgage Rates   

    Yield Curve 

    Derek Kravitz, AP Real Estate Writer, On Thursday September 29, 2011, 10:25 am
    WASHINGTON (AP) — Fixed mortgage rates have fallen to historic new lows for a fourth straight week and are likely to fall further.

    The average on a 30-year fixed mortgage fell to 4.01 percent this week, Freddie Mac said Thursday. That’s the lowest rate since the mortgage buyer began keeping records in 1971. The last time long-term rates were lower was in 1951, when most long-term home loans lasted just 20 or 25 years.

    The average on a 15-year fixed mortgage, a popular refinancing option, ticked down to 3.28 percent. Economists say that’s the lowest rate ever for the loan.

    Mortgage rates tend to track the yield on the 10-year Treasury note. Rates could fall further after the Federal Reserve announced last week that it would take further action to try to lower long-term rates.

     
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