Home >> News >> Data >> Mortgage Rates Hold Steady Near Record Lows
Print This Post Print This Post

Mortgage Rates Hold Steady Near Record Lows

Mortgage rates held steady above record lows this week, as the debt crisis in Europe threatened to upend an increasingly more favorable economic climate.

[IMAGE] [COLUMN_BREAK]

""Zillow"":http://www.zillow.com/ reported that the 30-year fixed-rate mortgage hovered old lows at 3.36 percent, only after dipping from 3.39 percent last week.

Interest rates for 15-year home loans currently average 2.73 percent, while those for 5-year and 1-year adjustable-rate mortgages stay near 2.35 percent.

""This week, rates remained fairly flat as Bernake's Jackson Hole speech on Friday kept the door open for more stimulus which could help keep rates near these low levels,"" ""Erin Lantz"":http://www.zillow.com/profile/Erin-Lantz/, director of Zillow Mortgage Marketplace, said in a statement.

""With limited economic news this week, we expect little movement in rates, unless the European Central Bank meeting on Thursday offers more concrete and immediate steps to European recovery than the market anticipates,"" she added.

About Author: Ryan Schuette

Ryan Schuette is a journalist, cartoonist, and social entrepreneur with several years of experience in real-estate news, international reporting, and business management. He currently lives in the Washington, D.C., area, where he freelances for DS News and MReport.
x

Check Also

Mortgage Apps Rise, as Affordability Concerns Linger

A rise in rates over the last week did not stop the charge of conventional purchase applications, as prospective buyers locked in rate before even more drastic increases.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.