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2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
2310 Gulf Drive North, #206, Bradenton Beach, Florida 34217
Beauty and the Beach!... Delightful, Direct Gulf Front, 2 bedroom/1 bathroom corner condo on beau...
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Key Royale Boat Dock, Holmes Beach, Florida 34217
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8027 Marina Isles Lane, Holmes Beach, Florida 34217
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907 North Shore Drive, Anna Maria, Florida 34216
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6 Lakeview Place, Anna Maria, Florida 34216
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Mortgage Rates Hit Lowest Level In Decades

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By ALAN ZIBEL, AP Real Estate Writer

WASHINGTON – Mortgage rates dropped to the lowest level in decades for the sixth time in seven weeks, offering the most attractive opportunity for those who qualify to refinance or purchase a home.

Government-controlled mortgage buyer Freddie Mac said Thursday that the average rate for 30-year fixed loans this week was 4.49 percent, down from 4.54 percent last week. That’s the lowest since Freddie Mac began tracking rates in 1971.

The average rate on the 15-year fixed loan dropped to 3.95 percent, down from 4 percent last week and the lowest on record.

Rates have fallen since spring as investors seek the safety of U.S. Treasury bonds. That has lowered the yield on Treasurys. Mortgage rates tend to track those yields.

The last time home loan rates were lower was during the 1950s, when most mortgages lasted just 20 or 25 years.

Low rates have sparked some activity in the weak housing market, but not a massive boom in refinancing.

Applications to refinance loans increased 1.3 percent and those to purchase homes increased 1.5 percent, according to the Mortgage Bankers Association.

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Mortgage Rates Drop to Lowest Level In Five Decades

Alan Zibel
The Associated Press
July 2, 2010

WASHINGTON – July 2, 2010 – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes.

Mortgage company Freddie Mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week.

mortgagerateart

That’s down from the previous record of 4.69  percent set last week and the lowest since the  mortgage company began keeping records in 1971.  The last time they were cheaper was the 1950s, when  most long-term home loans lasted just 20 or 25  years.

Rates have fallen over the past two months. Investors wary of the European debt crisis and the stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury’s.

On Wednesday, the yield on the benchmark 10-year Treasury note dropped to 2.95 percent. That was the first time it has fallen below 3 percent since April 2009, when the markets were beginning to recover from the financial crisis.
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Interest Rates Edge Above 5%

You can expect higher rates in the next 30-45 days, say 61% of the experts polled by Bankrate.com last week. But only 8% foresee no change, and almost one-third (31%) predict a drop.
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McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.

The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.

Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.

Interest Rates Move Higher

Interest Rates Move Higher

The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.

Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.

Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.

The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.

Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.

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. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

McLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
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. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgagesMcLEAN, Va. – Jan. 4, 2009 – Mortgage rates rose for the fourth straight week, ending the year above 5 percent.
The average fixed rate on a 30-year mortgage was 5.14 percent last week, up from 5.05 percent one week earlier, Freddie Mac said Thursday.
Mortgage rates are closely tied to yields on long-term government debt. The average fixed rate on 30-year mortgages has steadily risen since hitting a record low of 4.71 percent the week of Dec. 3.
The Federal Reserve is pouring $1.25 trillion into mortgage-backed securities to keep rates low this year. The program, aimed at making home buying more affordable, is set to end next spring.
Still, qualifying for a loan is hard because lenders have severely tightened requirements. The best rates are available to those with good credit and a 20 percent down payment.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders across the country. Rates often fluctuate significantly, even within a given day.
The average rate on a 15-year fixed mortgage rose to 4.54 percent from 4.45 percent last week.
Rates on five-year, adjustable-rate mortgages averaged 4.44 percent, up from 4.40 percent last week. However, rates on one-year, adjustable-rate mortgages fell to 4.33 percent from 4.38 percent.
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. The fee averaged 0.7 point for 15-year and 0.6 point for five-year loans and for one-year mortgages.

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Mortgage Rates Hit All-Time Low

Long term mortgage rates have hit new all time lows in the latest Primary Mortgage Market Survey released by Freddie Mac December 3rd. Both 30 year mortgage rates and 15 year mortgage rates have hit new lows this week.

mortgagerateart

30 year mortgage interest rates are at 4.71 percent with average mortgage discount points of 0.7, down from the prior week’s average mortgage rate of 4.78 percent. This rate is the lowest rate since 1971 when Freddie began it’s weekly mortgage survey.

15 year mortgage interest rates are at 4.27 percent with average mortgage points at 0.6, down from the previous week’s average mortgage loan rate of 4.29 percent. 15 year interest rates are lowest since Freddie started tracking 15 year loan rates in 1991.

5 year U.S. Treasury indexed adjustable mortgage rates are at 4.19 percent, up slightly over last week’s average loan rate of 4.18 percent. Mortgage points averaged 0.6 points.

1 year U.S. Treasury indexed adjustable rate mortgages averaged 4.25 percent, down from last week’s average mortgage interest rate of 4.35 percent. Average discount points were 0.6 points.

Long term mortgage rates have hit new all time lows in the latest Primary Mortgage Market Survey released by Freddie Mac this morning. Both 30 year mortgage rates and 15 year mortgage rates have hit new lows this week.
30 year mortgage interest rates are at 4.71 percent with average mortgage discount points of 0.7, down from the prior week’s average mortgage rate of 4.78 percent. This rate is the lowest rate since 1971 when Freddie began it’s weekly mortgage survey.
15 year mortgage interest rates are at 4.27 percent with average mortgage points at 0.6, down from the previous week’s average mortgage loan rate of 4.29 percent. 15 year interest rates are lowest since Freddie started tracking 15 year loan rates in 1991.
5 year U.S. Treasury indexed adjustable mortgage rates are at 4.19 percent, up slightly over last week’s average loan rate of 4.18 percent. Mortgage points averaged 0.6 points.
1 year U.S. Treasury indexed adjustable rate mortgages averaged 4.25 percent, down from last week’s average mortgage interest rate of 4.35 percent. Average discount points were 0.6 points.

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