Home >> News >> Data >> Low Mortgage Rates Continue To Make Headlines
Print This Post Print This Post

Low Mortgage Rates Continue To Make Headlines

Mortgage rates hit a two-month low, declining to 4.67 percent for 30-year fixed loans. That's down from 4.88 percent one week ago, according to Freddie Mac.


The average 15-year loan was down to 3.97 percent off of 4.15 percent a week ago, and the drops are tracking a Treasury yields as Japan's nuclear crisis spurns demand for relatively safe investments.

Yields on 10-year U.S. Treasury notes fell to their lowest level since December and stocks sank, reflecting concerns over the radiation risks from the Fukushima Dai-Ichi plant, located 135 miles north of Tokyo. The declines are likely to lead to an increase in refinancing, according to Keith Gumbinger, vice president of HSH Associates.

Mortgage applications fell 0.7 percent this past week, and housing starts plunged to a 22-month low for February. Construction permits were also in the basement with a record low, according to statistics from the Commerce Department.

About Author: Abby Gregory

Leave a Reply

Your email address will not be published. Required fields are marked *



Check Also

For a Few Million Less

As home sales continue to show signs of lagging, see what a low turnover rate could imply for home sales and what is considered normal in the housing market.


With daily content from MReport, you’ll never miss another important headline in originations, lending, or servicing. Subscribe to MDaily to begin receiving a complimentary daily email containing the top mortgage news and market information.