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Tag Archives: European Union

Fixed-Rate Mortgages Climb Higher This Week: Zillow

Interest rates for home loans climbed higher this week, just as the European Central Bank intervened to shore up the struggling economy overseas with more euro bonds and a weak jobs report quieted investors abroad. Real estate website Zillow reported that the 30-year fixed-rate mortgage ticked up to 3.38 percent, up two basis points from 3.36 last week. The benchmark home loan had fallen and hovered somewhere between 3.36 percent and 3.41 percent over the weekend. Interest rates for the 15-year fixed-rate mortgage went up to 2.75 percent.

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Mortgage Rates Continue Their Ascent as Worries Grow

Fixed mortgage rates continued their uphill climb following promising housing gains in July, but the upward trend might be short-lived. According to Freddie Mac's weekly Primary Mortgage Market Survey, the 30-year fixed rate mortgage averaged 3.66 percent (0.7 point) for the week ending August 23, up from 3.62 percent the previous week. The 15-year FRM also slid up, averaging 2.89 percent (0.6 point). A week ago, the 15-year fixed averaged 2.88 percent. Meanwhile, the 5-year adjustable-rate mortgage averaged 2.80 percent (0.6 point), up from 2.76 percent in the last survey.

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As Asking Prices Rise, Foreign Buyer Activity Falls

Higher asking prices drove off foreign homebuyers and investors over the last year, with real estate firm citing a 10 percent decline in foreign interest for the U.S. housing market. Releasing its International House Hunter Report Thursday, Trulia found that asking prices rose 0.3 percent year-over-year, nixing helpful influence from still-falling home prices. The housing bust attracted a number of foreign and cash buyers interested in low prices and the safe haven of U.S. real estate investment, according to Trulia.

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Mortgage Rates Streak Past Records to Hit New Lows

Lingering worries about the European debt crisis continue to drive investors to U.S. government bonds, sending fixed mortgage rates down to another record low. According to Freddie Mac├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 3.49 percent (0.7 point) for the week ending July 26, down from 3.53 percent the previous week. At the same time in 2011, the 30-year FRM averaged 4.55 percent. Adjustable rate mortgages actually saw a small boost, with the 5-year ARM averaging 2.74 percent (0.6 point), an increase from 2.69 percent the previous week.

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Thirty-Year Loan Slides to New Low Amid Downgrades

The 30-year fixed-rate mortgage slid to 3.35 percent, setting a new low for Zillow, as Europe braced for another wave of credit downgrades. The real estate Web site found the 15-year home loan averaging 2.8 percent, while interest rates for 5-year and 1-year adjustable-rate mortgages each hovered at 2.52 percent. She added that Zillow expects mortgage rates to remain near record lows as investors keep watch on economic stability in Europe. Mortgage rates zigzagged lower across the country, falling by as much as 10 basis points in Florida.

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HARP Refinance Volume Highest Since 2009: FHFA

More underwater borrowers are choosing to refinance their mortgages under the Home Affordable Refinance Program than at any time since the government program launched in 2009, according to the Federal Housing Finance Agency. The regulatory agency released a report Monday that found total refinance volume up by 20 percent in May. The reasons why? According to the FHFA, record-low interest rates for 30-year fixed-mortgages couple with recent modifications to HARP to create the conditions for a refi boom.

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Mortgage Rates Tumble on Disappointing Jobs Report

Freddie Mac's latest Primary Mortgage Market Survey showed average fixed mortgage rates finding yet another record low. The 30-year fixed-rate mortgage averaged 3.56 percent (0.7 point) this week, down from 3.62 percent the previous week. At the same time last year, the 30-year loan averaged 4.51 percent. This week marks the fourth month that the 30-year average has stayed below 4 percent. The 15-year fixed-rate mortgage also fell, averaging 2.86 percent (0.7 point), a drop from 2.89 percent last week. A year ago, the 15-year fixed averaged 3.65 percent.

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Mortgage Rates Slam into New Record Lows as Europe Wobbles

Mortgage rates continued to drop Thursday as the average 30-year fixed mortgage rate slammed into a new record low of 3.87 percent, according to Freddie Mac. The GSE found that for interest rates for the 15-year loan fell to 3.13 percent, while the jumbo 30-year fixed mortgage declined to 4.47 percent, each setting record lows. Adjustable-mortgage rates were mixed, with the average 3-year and 1-year ARMs inching higher to 3.07 percent. The popular 5-year and 1-year ARMs pulled back below the 3 percent threshold.

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