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Raybyrnes
ParticipantUpdate. Since the previous post Rates Have gone lower. As HLS would point out this applies to perfect loan qualified borrowers.
MORTGAGES
30-year mortgage under 5%
Weak economy keeps pushing interest rates lower
By Steve Kerch, MarketWatch
Last update: 11:00 a.m. EST Jan. 15, 2009Comments: 169CHICAGO (MarketWatch) — The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday.
The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.Lots more
real estateCoverage of home buying and selling, housing prices, mortgage information and home improvement.
• The house of the future
• 4 refinancing strategies for today
• Home builders ask for help
• Restoring your equity line
• Buy model now, move laterGet our free Real Estate newsletter
Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged 5.25%, down from 5.49%. A year ago the loan stood at 5.40% and has not been this low since September 2005. The 1-year, Treasury-indexed ARM averaged 4.89%, down from 4.95%. A year ago that loan was at 5.26%.
The 15-year fixed-rate mortgage, a popular refinancing choice, edged up to 4.65% from 4.62% a week ago. Last year at this time the loan averaged 5.21%. Refinancing activity has been strong as mortgage rates have plumbed historic lows. Read the latest mortgage application data showing record refinancing activity.
The two fixed-rate loans required the payment of an average 0.7 point to achieve the interest rate; the hybrid needed 0.6 point and the ARM 0.5 point. A point is one percent of the loan amount, charged a prepaid interest.
“Interest rates for 30-year fixed rate mortgages fell for the 11th straight week to another record low, due in part to the slowing economy and government actions,” said Frank Nothaft, Freddie Mac chief economist.
“Both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which put downward pressure on interest rates for fixed-rate mortgages. The Federal Reserve may add up to an additional $570 billion more this year, based on its November 25, 2008 announcement, to further shore up mortgage lending and keep rates low.”
“In December, the unemployment rate rose to 7.2 percent, the highest since January 1993, and the economy lost 2.6 million jobs over 2008, the largest annual drop since 1945. That brought down yields on Treasury securities and mortgage rates followed,” Nothaft said.
Steve Kerch is assistant managing editor and personal finance editor of MarketWatch in Chicago.ParticipantUpdate. Since the previous post Rates Have gone lower. As HLS would point out this applies to perfect loan qualified borrowers.
MORTGAGES
30-year mortgage under 5%
Weak economy keeps pushing interest rates lower
By Steve Kerch, MarketWatch
Last update: 11:00 a.m. EST Jan. 15, 2009Comments: 169CHICAGO (MarketWatch) — The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday.
The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.Lots more
real estateCoverage of home buying and selling, housing prices, mortgage information and home improvement.
• The house of the future
• 4 refinancing strategies for today
• Home builders ask for help
• Restoring your equity line
• Buy model now, move laterGet our free Real Estate newsletter
Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged 5.25%, down from 5.49%. A year ago the loan stood at 5.40% and has not been this low since September 2005. The 1-year, Treasury-indexed ARM averaged 4.89%, down from 4.95%. A year ago that loan was at 5.26%.
The 15-year fixed-rate mortgage, a popular refinancing choice, edged up to 4.65% from 4.62% a week ago. Last year at this time the loan averaged 5.21%. Refinancing activity has been strong as mortgage rates have plumbed historic lows. Read the latest mortgage application data showing record refinancing activity.
The two fixed-rate loans required the payment of an average 0.7 point to achieve the interest rate; the hybrid needed 0.6 point and the ARM 0.5 point. A point is one percent of the loan amount, charged a prepaid interest.
“Interest rates for 30-year fixed rate mortgages fell for the 11th straight week to another record low, due in part to the slowing economy and government actions,” said Frank Nothaft, Freddie Mac chief economist.
“Both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which put downward pressure on interest rates for fixed-rate mortgages. The Federal Reserve may add up to an additional $570 billion more this year, based on its November 25, 2008 announcement, to further shore up mortgage lending and keep rates low.”
“In December, the unemployment rate rose to 7.2 percent, the highest since January 1993, and the economy lost 2.6 million jobs over 2008, the largest annual drop since 1945. That brought down yields on Treasury securities and mortgage rates followed,” Nothaft said.
Steve Kerch is assistant managing editor and personal finance editor of MarketWatch in Chicago.ParticipantUpdate. Since the previous post Rates Have gone lower. As HLS would point out this applies to perfect loan qualified borrowers.
MORTGAGES
30-year mortgage under 5%
Weak economy keeps pushing interest rates lower
By Steve Kerch, MarketWatch
Last update: 11:00 a.m. EST Jan. 15, 2009Comments: 169CHICAGO (MarketWatch) — The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday.
The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.Lots more
real estateCoverage of home buying and selling, housing prices, mortgage information and home improvement.
• The house of the future
• 4 refinancing strategies for today
• Home builders ask for help
• Restoring your equity line
• Buy model now, move laterGet our free Real Estate newsletter
Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged 5.25%, down from 5.49%. A year ago the loan stood at 5.40% and has not been this low since September 2005. The 1-year, Treasury-indexed ARM averaged 4.89%, down from 4.95%. A year ago that loan was at 5.26%.
The 15-year fixed-rate mortgage, a popular refinancing choice, edged up to 4.65% from 4.62% a week ago. Last year at this time the loan averaged 5.21%. Refinancing activity has been strong as mortgage rates have plumbed historic lows. Read the latest mortgage application data showing record refinancing activity.
The two fixed-rate loans required the payment of an average 0.7 point to achieve the interest rate; the hybrid needed 0.6 point and the ARM 0.5 point. A point is one percent of the loan amount, charged a prepaid interest.
“Interest rates for 30-year fixed rate mortgages fell for the 11th straight week to another record low, due in part to the slowing economy and government actions,” said Frank Nothaft, Freddie Mac chief economist.
“Both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which put downward pressure on interest rates for fixed-rate mortgages. The Federal Reserve may add up to an additional $570 billion more this year, based on its November 25, 2008 announcement, to further shore up mortgage lending and keep rates low.”
“In December, the unemployment rate rose to 7.2 percent, the highest since January 1993, and the economy lost 2.6 million jobs over 2008, the largest annual drop since 1945. That brought down yields on Treasury securities and mortgage rates followed,” Nothaft said.
Steve Kerch is assistant managing editor and personal finance editor of MarketWatch in Chicago.ParticipantUpdate. Since the previous post Rates Have gone lower. As HLS would point out this applies to perfect loan qualified borrowers.
MORTGAGES
30-year mortgage under 5%
Weak economy keeps pushing interest rates lower
By Steve Kerch, MarketWatch
Last update: 11:00 a.m. EST Jan. 15, 2009Comments: 169CHICAGO (MarketWatch) — The benchmark 30-year mortgage fell below 5% for the first time ever in Freddie Mac’s weekly rate survey as economic weakness continued to push interest rates lower, the mortgage agency said Thursday.
The national average rate on the 30-year loan fell to 4.96% in the week ending Jan. 15, down from 5.01% a week ago. That is the lowest on record. Freddie Mac began its rate survey in 1971. A year ago the loan averaged 5.69%.Lots more
real estateCoverage of home buying and selling, housing prices, mortgage information and home improvement.
• The house of the future
• 4 refinancing strategies for today
• Home builders ask for help
• Restoring your equity line
• Buy model now, move laterGet our free Real Estate newsletter
Adjustable-rate loans also fell. The 5-year, Treasury-indexed hybrid mortgage averaged 5.25%, down from 5.49%. A year ago the loan stood at 5.40% and has not been this low since September 2005. The 1-year, Treasury-indexed ARM averaged 4.89%, down from 4.95%. A year ago that loan was at 5.26%.
The 15-year fixed-rate mortgage, a popular refinancing choice, edged up to 4.65% from 4.62% a week ago. Last year at this time the loan averaged 5.21%. Refinancing activity has been strong as mortgage rates have plumbed historic lows. Read the latest mortgage application data showing record refinancing activity.
The two fixed-rate loans required the payment of an average 0.7 point to achieve the interest rate; the hybrid needed 0.6 point and the ARM 0.5 point. A point is one percent of the loan amount, charged a prepaid interest.
“Interest rates for 30-year fixed rate mortgages fell for the 11th straight week to another record low, due in part to the slowing economy and government actions,” said Frank Nothaft, Freddie Mac chief economist.
“Both the U.S. Treasury Department and the Federal Reserve have added over $100 billion in liquidity to the mortgage market since September 2008, which put downward pressure on interest rates for fixed-rate mortgages. The Federal Reserve may add up to an additional $570 billion more this year, based on its November 25, 2008 announcement, to further shore up mortgage lending and keep rates low.”
“In December, the unemployment rate rose to 7.2 percent, the highest since January 1993, and the economy lost 2.6 million jobs over 2008, the largest annual drop since 1945. That brought down yields on Treasury securities and mortgage rates followed,” Nothaft said.
Steve Kerch is assistant managing editor and personal finance editor of MarketWatch in Chicago.ParticipantOC Renter
It would be appreciated if you announce your blog is back up on piggingington, if you elect to do so. I ahve made a couple of wishful attempts thinking you might give some second thoughts.
ParticipantOC Renter
It would be appreciated if you announce your blog is back up on piggingington, if you elect to do so. I ahve made a couple of wishful attempts thinking you might give some second thoughts.
ParticipantOC Renter
It would be appreciated if you announce your blog is back up on piggingington, if you elect to do so. I ahve made a couple of wishful attempts thinking you might give some second thoughts.
ParticipantOC Renter
It would be appreciated if you announce your blog is back up on piggingington, if you elect to do so. I ahve made a couple of wishful attempts thinking you might give some second thoughts.
ParticipantOC Renter
It would be appreciated if you announce your blog is back up on piggingington, if you elect to do so. I ahve made a couple of wishful attempts thinking you might give some second thoughts.
ParticipantI had lunch today at Sbica in Del Mar. I believe they participate in restaurant week. Foot was great. Service was excellent. Parking is the only bummer.
ParticipantI had lunch today at Sbica in Del Mar. I believe they participate in restaurant week. Foot was great. Service was excellent. Parking is the only bummer.
ParticipantI had lunch today at Sbica in Del Mar. I believe they participate in restaurant week. Foot was great. Service was excellent. Parking is the only bummer.
ParticipantI had lunch today at Sbica in Del Mar. I believe they participate in restaurant week. Foot was great. Service was excellent. Parking is the only bummer.
ParticipantI had lunch today at Sbica in Del Mar. I believe they participate in restaurant week. Foot was great. Service was excellent. Parking is the only bummer.
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