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Tag Archives: Bankrate

Freddie: Plunging Mortgage Rates Smash New Records

Mortgage rates again smashed records Thursday by falling to new lows as investors continued to flee Europe, buying up safer U.S. Treasury debt, keeping interest rates low, and setting up all-time highs for housing affordability. Finance Web site Bankrate.com differed by posting slight upticks for the benchmark 30- and 15-year fixed-rate mortgages. According to the GSE, rates for the 30-year loan collapsed to 4.01 percent, while Bankrate.com duly noted a rise in interest rates for the 30-year loan to 4.30 percent.

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Economic Worries Trample on New-Home Sales Over August

Despite the lure of record-low mortgage rates, fewer consumers stepped out from behind the fear of a global economic slowdown to purchase new homes, curtailing new sales by 2.3 percent month-over-month in August. Market watchers chalked up a six-month dearth to consumers wary about their job security, stock markets, and the threat of a new recession. The Census Bureau signaled a fallback to 295,000 housing units on a seasonally adjusted basis, down from 302,000 from July.

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Mortgage Applications Tick Up 0.6% on Low Rates

application

Mortgage application volume crept up from last week, with refinancing activity leaping ahead of purchases, according to a weekly survey by the Mortgage Bankers Association. Stacks of applications around the nation thickened by less than 1 percent from the previous week, largely as a result of climbing mortgage rates. The Weekly Mortgage Applications Survey, a measure of total application volume by the trade group, pulled together several indices that reflect volume.

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Zillow Sees 30-Year Loan Rates Hit 3.94%

Real estate Web site Zillow differed by few turns over mortgage rates, publicizing a small uptick in real-time mortgage rates. The latest rates arrive amid turmoil in markets at home and record lows for mortgage rates recorded by Bankrate.com and Freddie Mac. According to the real estate Web site, the 30-year fixed-rate loan traded up by three basis points to hit 3.94 percent, up from 3.91 percent from last week ├â┬ó├óÔÇÜ┬¼├óÔé¼┼ô the lowest such rate for the loan on record for the company since April 2008.

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Mortgage Rates Smash New Records on Europe Debt Fears

A rush by overseas investors to the safe haven of U.S. Treasury debt helped whittle away at yields and force mortgage rates to all-time lows, a short-term boon to creditworthy homebuyers. With the 30-year benchmark loan smashing new records, analysts for mortgage giant Freddie Mac and finance Web site Bankrate.com chalked up the favorable rates to a wobbly Greece and unsettled concerns over euro zone markets. Bankrate.com and Freddie Mac report the latest mortgage rates each week.

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Mortgage Rates Offer More Mixed News

Mortgage rates either stayed the same or plunged to record lows, depending on where market watchers obtained their news Thursday. Mortgage giant Freddie Mac and personal finance Web site Bankrate.com released separate figures, with the former seeing a static 30-year fixed-rate mortgage and the latter finding a new bottom for the benchmark loan. The 30-year loan went bottoms up, according to Bankrate.com, which posted a 4.37-percent low, down from 4.41 percent from the week earlier.

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