ADV: Mortgage Rates Drop to 6-month Low
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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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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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New applications for US 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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WASHINGTON -- Rates on 30-year mortgages dropped this week to the lowest point in four months, providing some relief for people hoping to refinance their existing mortgages.
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Business & money: The number of new mortgage approvals fell to its lowest level in over two years in September.
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Investor's Business Daily - The Mortgage Bankers Association said its mortgage applications index fell 3.8% in the June 22 week to the lowest level in 4 months. Applications are still 16.8% above the year-ago level. Mortgage rates held near recent highs. Refinance applications slid 2.5% to its lowest level of the year. Applications for buying a home fell 4.9%, but only to a 4-week low.
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WASHINGTON - Interest rates on short-term Treasury bills fell in auction yesterday with six-month bills falling to the lowest level since late August.
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Investor's Business Daily - Even before Tuesday's 0.75% slash in the federal funds rate by the Federal Reserve, mortgage rates had been sliding. Last week's cut pulled down home loan rates more.
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WASHINGTON, Aug. 19 (Xinhuanet) -- The average interest rate of 30-year mortgages in the United States declined to the lowest level in four months this week, US mortgage giant Freddie Mac reported on Thursday.
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US mortgage applications fell 6.3 percent last week, the biggest decline in more than a month, as fewer people filed to buy a home or refinance.
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By Bloomberg News. The number of mortgage applications declined last week as fewer people refinanced, a survey by a private group found.
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WASHINGTON -- Mortgage rates around the country fell this week, with rates on 30-year mortgages dipping to the second lowest level of the year, pushed down by further signs of economic weakness.
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Investor's Business Daily - The National Assoc. of Realtors cut its &#39;07 outlook for the fourth consecutive month. Home resales will fall to 6.18 mil from last month&#39;s forecast of 6.29 mil and well below the initial 6.42 mil forecast. The median existing-home sales price will fall 1.3%, more than the previously forecast 1% slide. The median new-home price will fall 2.3% to $240,800, reversing the Jan. forecast for a 2% gain, NAR said.
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Despite five consecutive interest rate hikes by the Federal Reserve, the average 30-year fixed-rate mortgage is an unbelievably low 5.69 percent.
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Mortgage rates reversed a two-week climb this week, according to Freddie Mac&#39;s weekly mortgage survey. Freddie Mac reported that the 30-year fixed-rate mortgage averaged 5.74 percent for the week ended today
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WASHINGTON - A near-record low for an index that forecasts near-term home sales suggests borrowers in expensive areas are struggling to finalize purchases amid mortgage market woes.