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Mortgage rates have been slowly increasing, recently rising for the second week in a row. The Los Angeles Times reports: ” The average rate for a 30-year fixed mortgage was 4.86% this week, up from 4.84% last week, mortgage company Freddie Mac said. A 15-year fixed-rate mortgage averaged 4.52%, up just slightly from 4.51% last week.” Average rates are [...] [...more]
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National 30-year mortgage rates just fell to 4.85% – the lowest rate since weekly survey records began in 1971. Bloomberg News reports: “The Federal Reserve said March 18 it will purchase up to an additional $750 billion of mortgage-backed securities from Fannie Mae, Freddie Mac and Ginnie Mae to support home lending. The Fed is trying to [...] [...more]
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Rates on traditional mortgages are expected to fall below 5%, and some lenders are already lowering their rates today. Mercury News reports: “The Federal Reserve threw more than a trillion dollars at the gridlocked credit and housing markets Wednesday, sending a key interest rate down by a historic amount. Mortgage rates, already low, were expected to drop [...] [...more]
