U.S. mortgage rates fall to record low: Freddie Mac
Reuters - Thu Dec 3, 11:42 am ETU.S. mortgage rates dropped to a record low in the latest week, as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.
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U.S. mortgage rates dropped to a record low in the latest week, as rates fell for a fifth straight week, a closely watched mortgage survey showed Thursday.
A default by Fannie Mae and Freddie Mac on what has long been seen as quasi-sovereign debt would torpedo America’s reputation.
The average interest rate for a 30-year mortgage dropped to a record low of 4.71% this week, pushed down by an aggressive government campaign to reduce borrowing costs.
Regulation: When Fed chief Ben Bernanke sat before the Senate on Thursday, he was blamed for everything but the Afghan War. Truth is, Bernanke may have kept the U.S. from falling into a Depression.
NEW YORK -(Dow Jones)- Risk premiums on mortgage-backed securities guaranteed by Freddie Mac (FRE), Fannie Mae (FNM) and Ginnie Mae narrowed Thursday, extending a trend that has confounded buyers of these bonds but delighted those who own them.
“Since 1945 the United States has been the world’s dominant power.”
Average rates for 30-year and 15-year fixed mortgages fall to a record low this week.
Dec. 4 (Bloomberg) -- MGIC Investment Corp. ’s capital- requirements waiver offers a “road map” to save unprofitable mortgage guarantors, Wisconsin Insurance Commissioner Sean Dilweg said.
Dec. 4 (Bloomberg) -- Financial market fears are spurring U.S. lawmakers to revise a proposal to put secured creditors in the crosshairs if a major financial institution fails and the government has to cover losses.
Properties in these cities stay on the market longest, and sell for less than asking price.
The rates, reported yesterday in the weekly Freddie Mac Primary Mortgage Market Survey, were down from last week’s 4.78 percent, which ties a record low set in April for 30-year, fixed-rate loans with a 20 percent down payment. The survey dates to 1971.
Treasury prices fell Thursday amid worries about an increase in debt supply.
Average 30-year fixed loan at 4.71%, best on record and a boon for homebuyers and those looking to refinance Interest rates on the benchmark 30-year fixed-rate mortgage dipped to a 38-year low this week, giving consumers another reason to consider purchasing a home or refinancing their current one.
The following is being issued by Fannie Mae :
Record low rates Mortgage rates for fixed 30-year loans in the U.S. dropped to a record low amid signs that the housing market is beginning to emerge from the worst slump since the 1930s. The rate fell to 4.71 percent for the week, the lowest since mortgage buyer Freddie Mac began compiling the data in 1971. The average 15-year rate was 4.27 percent.
Fannie Mae: Three- and six-month benchmark bills are auctioned on a weekly basis. One-year bills are auctioned once a month. Every Monday, an announcement is made and on Wednesday the auctions are held. Settlement usually scheduled for Wednesday or Thursday.