ADV: Mortgage Rates Drop to 6-Month Low
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Interest rates on US 30- and 15-year mortgages edged slightly lower in the week, mortgage finance company Freddie Mac said on Thursday.
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WASHINGTON -- Pending sales of existing homes fell in July to the lowest level in nearly six years as the mortgage market's troubles made it tough for many borrowers to finalize home purchases.
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Investor's Business Daily - The Mortgage Bankers Association&#39;s mortgage application index fell 3.4% to 643.7 in the week ended June 15, but was still up 13.2% compared with the same week last year. The purchase index slid 3% to 450.9 while the refinancing index fell 4.2% to 1,776.8.
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Rates on 30-year and 15-year mortgages dipped this week, a development that should help keep the housing market humming. Rates on 30-year, fixed-rate mortgages averaged 5.74 percent for the week ending Nov.
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Long-term mortgage rates tumbled to six-month lows this week amid concerns the economic expansion may be losing steam. Defying expectations earlier this year that it would now hover around 6.5 percent, the
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Rates on 30-year and 15-year mortgages dipped this week. Rates on 30-year, fixed-rate mortgages averaged 5.74 percent, mortgage giant Freddie Mac said in its weekly survey released Thursday.
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The number of new mortgages granted to home buyers fell to 62,000 in December, mortgage lenders say.
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New applications for U.S. home loans  fell last week as 30-year mortgage rates declined to their  lowest level since late March, an industry group said on  Wednesday.
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Business & money: Housing market slows as mortgage approvals fall.
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After a shallow, one-week dip, mortgage rates have risen to just about where they were two weeks ago. Rates are still low. The question is whether they are low enough to keep the housing market hot.
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Investor's Business Daily - The Mortgage Bankers Assoc.&#39;s mortgage applications index rose 5.5% in the week ended Sept. 7 as interest rates fell to the lowest since May. Analysts said tighter lending standards may be prompting borrowers to file more than one application. The average 30-year fixed mortgage rate fell 0.17 point 15 6.25%. The refi share of applications increased 0.7 point 15 42.1%.
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Mortgage rates rose this week, although 30-year mortgages were still below the 6 percent level for a fourth week, Freddie Mac said Thursday.