Sections SEARCH Skip to content Skip to site index Business Log In Log In Today’s Paper Business | Mortgage Rates Are Already Lower. They’re Not Helping Much. Advertisement Supported by ByMatt Phillips Aug 1, 2019 Cheaper mortgages are usually a boon to the housing market. But this year, a sharp drop in mortgage rates hasn’t provided much of a lift, and that could bode poorly for the Federal Reserve’s efforts to shore up economic growth. To see why, take a look at what has happened in housing since mortgage rates began a sharp decline late last year. government bonds, and yields on those bonds have been falling this year. Similarly, the rate on the 30-year fixed mortgage rate is down more than one percentage point, to 3.75 percenaccording to Freddie Mac. Over the last 30 years, the rate has averaged about 6.25 percent. So the current rates might reasonably have been expected to spark a … [Read more...] about Mortgage Rates Are Already Lower. They’re Not Helping Much.
30 year refinance fixed mortgage rates
A for sale sign marks a house in the Dallas suburb of Richardson, Texas, in this February file photo. The nation’s average mortgage rate for a 30-year fixed-rate loan fell this week to 4.06 percent. Fixed mortgage rates didn't go down much this week, but they did drop for the fourth week in a row. According to the latest data released Thursday by Freddie Mac, the Federal Home Loan Mortgage Corp., the 30-year fixed-rate average slipped to 4.06% with an average 0.5 point. (Points are fees paid to a lender equal to 1% of the loan amount.) Rates were 4.07% a week ago and 4.66% a year ago. The 30-year fixed rate matched its lowest level of the year, set back at the end of March. The 15-year fixed-rate average dipped to 3.51% with an average 0.4 point. It was 3.53% a week ago and 4.15% a year ago. The five-year adjustable rate average ticked up to 3.68% with an average 0.4 point. It was 3.66% a week ago and 3.87% a year ago. Zillow economic analyst Matthew Speakman said the lack of … [Read more...] about Fixed mortgage rates decline for 4th week
Fixed mortgage rates sank to a 10-month low this week amid uncertainty about the health of the economy. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dropped to 4.41 percent with an average 0.4 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.46 percent a week ago and 4.32 percent a year ago. The 30-year fixed rate hasn't been this low since early April. The 15-year fixed-rate average fell to 3.84 percent with an average 0.4 point. It was 3.89 percent a week ago and 3.77 percent a year ago. The five-year adjustable-rate average drifted down to 3.91 percent with an average 0.3 point. It was 3.96 percent a week ago and 3.57 percent a year ago."Markets interpreted [the Federal Reserve's] announcement of a pause in future rate hikes as a signal that the Fed is more concerned about economic risks than they had previously let on, and rates consequently spent the better part of two days retreating," … [Read more...] about Mortgage rates tumble to 10-month low
By Jeff Lazerson | [email protected] | MortgageGrader.com PUBLISHED: December 27, 2018 at 1:41 pm | UPDATED: December 27, 2018 at 1:45 pm What’s up with mortgage rates? Jeff Lazerson of Mortgage Grader in Laguna Niguel gives us his take. Rate news summary From Freddie Mac’s weekly survey: The 30-year fixed rate improved to 4.55 percent, down 7 basis points from last week. The 15-year fixed averaged 4.01 percent, down 6 basis points from last week. And, the Fed raised its prime lending rate to 5.5 percent earlier this week. The Mortgage Bankers Association is on hiatus this week and did not report loan volume. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $484,350 loan, last year’s payment was $159 lower than this week’s payment of $2,469. What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages at zero point cost: A 15-year FHA at 3.50 percent, a 30-year FHA at 3.75 percent, a … [Read more...] about Lazerson’s preditions: Mortgage rates, home prices and sales to go down in 2019
This holiday season has brought good news for anyone looking to buy a house or refinance a mortgage. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dipped to 4.55 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.62 percent a week ago and 3.99 percent a year ago. The 15-year fixed-rate average slipped to 4.01 percent with an average 0.4 point. It was 4.07 percent a week ago and 3.44 percent a year ago. The five-year adjustable rate average ticked up to 4 percent with an average 0.3 point. It was 3.98 percent a week ago and 3.47 percent a year ago."Rates continued their two-month slide and are currently hovering around the same level as the early summer, which was before the deterioration in home sales," Sam Khater, Freddie Mac chief economist, said in a statement. "The negative headlines around the financial markets are concerning but the economy remains healthy, so … [Read more...] about Decline in fixed mortgage rates continues unabated through the holidays