ADV: Mortgage Rates Drop to 6-month Low
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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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Business & money: The number of new mortgage approvals fell to its lowest level in over two years in September.
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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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Interest rates on US 30-year mortgages edged slightly lower in the latest week, continuing to offer an enticing rate to prospective home owners, mortgage finance company Freddie Mac said on Wednesday.
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Average interest rates for U.S. mortgages dropped for the fourth week in a row, to levels not seen since the beginning of the year, according to a survey released by finance company Freddie Mac  on Thursday.
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Average interest rates for U.S.  mortgages dropped for the fourth week in a row, to levels not  seen since the beginning of the year, according to a survey  released by finance company Freddie Mac  on Thursday.
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Investor's Business Daily - Despite rising interest rates, the Mortgage Bankers Association&#39;s seasonally adjusted index of application activity edged up 6.6% to 666.5 in the week ending June 8. Its index of purchase activity rose 7.2%, while refinancing activity climbed 5.6%. Analysts called it a scramble to head off rising borrowing costs. Mortgage rates are at their highest since mid-&#39;06.
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Investor's Business Daily - The Mortgage Bankers Assn. index of applications to buy or refinance a home fell 7.3% last week to 636.4 amid higher interest rates. It was the biggest drop in 4 months. The average 30-year fixed rate rose to 6.32%, the highest since Oct., from 6.23% the week before.
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Interest rates on U.S. 30-year mortgages stayed under 6 percent for a third straight week, mortgage finance company Freddie Mac said on Thursday, remaining at their lowest averages since early April.
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Rates on 30-year and 15-year mortgages fell this week to the lowest levels seen in six months, good news for people wanting to buy a home or refinance.
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Mortgage rates around the country went up this week, although 30-year mortgages still were below 6 percent for a sixth straight week.
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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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