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Tag Archives: European Union

Mortgage Rates Remain Near Record Lows as Europe Wavers

The 30-year fixed-rate mortgage hovered at 3.63 percent this week, up from record lows last week, with debt crises in Europe continuing to scare investors and drag down prospects for a steady economic recovery. Real estate Web site Zillow found the 30-year fixed-rate mortgage down to 3.63 percent, up from 3.59 percent last week. The 15-year home loan averaged 2.93 percent, while rates for 5-year and 1-year adjustable-rate mortgages reached 2.54 percent. Europe remains a sore spot for the economic recovery.

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Group: Housing Finds Sustainable Recovery Amid Threats

In its latest monthly report released Monday, Capital Economics painted a positive picture of the housing market, insisting the market has moved from bottoming-out to recovering. To those wondering whether Capital Economics' positive prophesies are merely a mirage soon to be dispersed much like the short-lived positive movement the market experienced in 2009 and 2010, the analytics firm pointed out a substantial difference between what occurred in 2009-2010 and what is occurring today.

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Mortgage Rates Fall to New Record Lows as Greece Titters

Interest rates for mortgage loans saw new, all-time lows this week as investors fled debt crises in Europe. Freddie Mac found the 30-year fixed-rate mortgage sliding to 3.79 percent, down from 3.83 percent last week and a far cry from 4.61 percent last year. The 15-year loan fell from 3.05 percent to 3.04 percent. Adjustable-rate mortgages went up. The finance Web site Bankrate.com likewise saw new record lows for mortgage rates, with the 30-year fixed-rate mortgage dropping below 4 percent for the first time by arriving at 3.97 percent.

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Mortgage Applications Ride 9.2% Increase on Low Interest Rates

A rash of new concerns in debt-saddled Europe drove investors to U.S. Treasury debt, keeping mortgage rates at all-time lows and leading mortgage application volume to tick up 9.2 percent. The Mortgage Bankers Association recorded an 8.7 percent increase in applications for the Market Composite Index on a seasonally unadjusted basis. Analysts credit an upset in Greek elections last week with the rush by investors to U.S. Treasury debt, with policymakers in the Mediterranean country likely seeing elections next week.

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Thirty-Year Loan Slumps to New Low as Investors Flee Europe

The 30-year fixed-rate mortgage reached a new all-time low Tuesday as concerns grew that Greece would leave the euro zone in a disorderly way. Real estate Web site Zillow found the loan at 3.59 percent, down from 3.65 percent last week, the lowest rate recorded by the company since it began tracking interest rates for mortgages in April 2008. This is down from a previous all-time low of 3.65 percent recorded in May. Mortgage rates zigzagged lower across many states, falling 14 basis points in Massachusetts and 11 basis points in Texas.

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With ResCap Deal, Ally Shifts From Home Loans to Auto Loans

After suffering from bad loans during the financial crisis, Ally Financial looks to close the books on its share of ownership in the mortgage business. Executives with Ally took to the phone with investors Tuesday to explain a filing for bankruptcy protection Monday by subsidiary Residential Capital LLC. The consensus: Residential mortgage loans are out for Ally and auto finance is back in the center. Ally will still subservice loans via ResCap while it serves as counterparty to Fannie Mae and Freddie Mac.

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Bank Shares Fall as Greek Turmoil Undermines Confidence

A fresh round of concerns that Greece may leave the euro zone sent U.S. stock markets into a dizzying tumble Monday. After some lift in recent weeks, the Dow Jones Industrial Average fell 125.25 points to close by end of day at 12,695, along with shares for the nation├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós four largest lenders. The deal reportedly involves a Syriza, a leftwing bloc opposed to further austerity measures that may parlay slashes to Greek social services for $170 billion in bailout funds under a package jointly agreed-to by the European Union and International Monetary Fund.

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Turmoil in Europe Drives Mortgage Rates to All-Time Lows

Jittery investors retreated to U.S. Treasury debt this week after upsets in French and Greek elections, a movement that yet again drove mortgage rates to all-time lows. Freddie Mac found Thursday that the 30-year fixed-rate mortgage broke records by falling to 3.83 percent, down from 3.84 percent last week. Finance Web site Bankrate.com, which releases a survey at the same as Freddie each week, found similar results, with the 15-year fixed-rate mortgage hitting 3.2 percent and the jumbo 30-year loan falling to 4.54 percent, both new lows.

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Elections Overseas Drive Mortgage Rates to All-Time Lows

Interest rates for 30-year fixed-rate mortgages slid this week to 3.65 percent, a four-year low made feasible by turmoil in French and Greek elections, real estate Web site Zillow said Tuesday. The 30-year loan fell from 3.69 percent last week and represents the lowest recorded by Zillow since the Web site began tracking mortgage rates in April 2008. Interest rates for the 30-year also zigzagged across the country, falling most steeply in places like Colorado and Illinois. Rates for the 15-year fixed-rate loan averaged 2.91 percent, alongside 2.52 percent for 5-year and 1-year adjustable-rate mortgages.

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Mortgage Rates Zip Past All-Time Lows, Setting New Records

Concerns about the economy, European debt, and Chinese growth led mortgage rates to fall for the fourth straight week, according to Bankrate.com. The finance Web site found the 30-year fixed-rate mortgage averaging 4.05 percent, down from 4.09 percent last week, according to Bankrate.com's weekly survey. Bankrate.com also said that the 15-year loan set a new record low by falling to 3.25 percent, down from 3.28 percent, while 5-year and 1-year adjustable-rate mortgages each fell from 3.03 percent to 3.02 percent.

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