ADV: Mortgage Rates Drop to 6-month Low
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Mortgage rates dropped this week amid a still struggling economy, according to surveys conducted by mortgage buyer Freddie Mac and Bankrate.
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WASHINGTON -- 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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U.S. mortgage applications fell for  the first time in four weeks even as interest rates dropped to  a six-month low, an industry trade group said on Wednesday,  providing further evidence the country's housing market slump  is deepening.
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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.
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Applications for U.S. home loans fell  6.3 percent last week after a brief bounce in early August  spurred by a drop in mortgage rates, an industry group said on  Wednesday.
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Mortgage rates around the country crept up this week, although 30-year mortgages still were below the 6 percent level for a fourth straight week, Freddie Mac reported Thursday.
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Rates on 30-year mortgages fell for a sixth consecutive week, providing home buyers with more relief from an earlier rise in rates.
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Business & money: Sixth successive month of price falls, and mortgage lending at two-year low despite rate cuts
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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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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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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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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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The American central bank, the Federal Reserve, Tuesday raised short-term interest rates for the fifth time in six months. Even with the quarter point increase short-term rates are a still-very-low 2.25 percent.