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Mortgage Rates Retreat To 6-Week Low

McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.

The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.

The average rate for 30-year fixed-rate mortgages was 5 percent this wee

The average rate for 30-year fixed-rate mortgages was 5 percent this week

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers.

The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.

The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.

Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent.
Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day, often tracking the interest rate paid on long-term Treasury bonds.
This week, the average rate on a 15-year fixed-rate mortgage was 4.36 percent, down from last week when it averaged 4.39 percent.
Rates on five-year, adjustable-rate mortgages averaged 3.97 percent, down from 4 percent a week earlier. Rates on one-year, adjustable-rate mortgages dipped to 4.07 percent from 4.25 percent.
The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount.
The nationwide fee for loans in Freddie Mac’s survey averaged 0.7 of a point for 30-year, 15-year, and 5-year loans, and 0.6 of a point for 1-year loans.
Freddie Mac: Mortgage rates sink to 6-week low
McLEAN, Va. – May 7, 2010 – Rates for 30-year fixed mortgages have fallen to their lowest level in six weeks, Freddie Mac said Thursday.
The average rate for 30-year fixed-rate mortgages was 5 percent this week, down from last week when it averaged 5.06 percent. A year ago, 30-year fixed rate mortgages averaged 4.84 percent, Freddie Mac said.
Rates dropped to a record low of 4.71 percent in December, pushed down by a campaign by the Federal Reserve to reduce borrowing costs for consumers. The program ended at the end of March, but the Fed left the door open to reviving the program if the economy weakens.
The last time rates for 30-year fixed mortgages averaged less than 5 percent was the week of March 25, when they were 4.99 percent

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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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