ADV: Mortgage Rates Drop to 6-Month Low
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Interest rates on U.S. 30- and  15-year mortgages fell this week to their lowest levels since  early April as the housing market showed little sign of slowing  despite the Federal Reserve's move to raise interest rates,  mortgage finance company Freddie Mac said on Thursday.
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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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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 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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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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Mortgage rates increased this week for the first time in a month, while holding close to the lowest since early April, according to Freddie Mac.
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Interest rates on U.S. 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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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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Interest rates on US 30-year and 15-year mortgages have moved lower following last week&#39;s disappointing jobs report that suggested economic growth had slowed, mortgage finance company Freddie Mac said on Thursday.
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Investor's Business Daily - The Mortgage Bankers Assoc.&#39;s application index rose 0.9% to 631.6 in the week ended July 13, as homeowners rushed to refinance their loans due to fears that interest rates will head higher. Homebuyer applications fell. The 4-week moving average of applications fell 0.5%, down for the 8th straight week.
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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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Long-term mortgage rates fell again this week to the lowest level in six months, Freddie Mac reported Thursday.
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