Economic doomsday theorists may persist in their declarations that an unresolved fiscal cliff spells disaster for the U.S. economy, but recent data from Standard and Poor/Case-Shiller says otherwise. The organization’s national home price index, released Dec. 26, increased 4.3 percent … [Read more...]
Freddie Mac Reports Mortgage Interest Rates Near Record Low
As of Thursday, Freddie Mac has reported that interest rates have reached near record lows, with rates on 30 year mortgages dropping as low as 3.32 percent from last week’s average of 3.34 percent and last year’s average fixed rate of 3.94 percent. This means rates are hovering just … [Read more...]
Freddie Mac: Mortgage Rates Near Record Lows, Home Prices Up in November
The housing market may have a long to reach full recovery, but it’s certainly bouncing back from the Great Recession. According to a new report from Freddie Mac, rates for 30-year mortgages have dropped to just 3.32 percent, barely more than the record low dating back to 1971. … [Read more...]
Savings-Savy Borrowers Look to Credit Unions for 5-Year-Fixed Mortgages
As mortgage rates remain at all-time lows and housing prices begin to rebound, homeowners continue to refinance at record rates—including those who have already refinanced in the past couple of years. A trend emerging among the trend, however, is the 5-year-fixed mortgage. … [Read more...]
Low Interest Rates Cause Refinancing of Homes Surge
Because of low interest rates available for homeowners, mortgage brokers have seen an increase of applications for refinancing of mortgages. In addition, because mortgage interest rates are continually adjusting downwards, opportunities for homeowners to refinance home loans, on a … [Read more...]
QE3 Already Boosting Housing Market
Reports indicate the Federal Reserve’s newest round of quantitative easing is working as planned. Freddie Mac’s weekly Primary Mortgage Market Survey indicates average fixed mortgage rates have fallen to record lows for the second consecutive week. Fed-purchased mortgage securities … [Read more...]
