Housing Market, Mortgage Rates | featured news

The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time ever, to 3.94 percent....

The average rate on a 30-year fixed mortgage has fallen to its lowest level on records dating to 1971.

U.S. mortgage rates dropped to new lows after the latest round of gloomy economic data hurt Treasury yields, according to Freddie Mac's weekly survey of mortgage rates.

Fixed mortgage rates have fallen to their lowest levels of the year, giving Americans more incentive to buy homes or refinance their loans. Freddie Mac said Thursday the average rate on the 30-year loan fell to 4.63 percent from 4.71. The average rate on the 15-year fixed mortgage slipped to 3.82 percent from 3.89 percent. Both are at their lowest points since December. It marked the fourth straight weekly decline.

With home prices down and mortgage rates near record lows, a lot of people feel that now is the perfect time to jump into the housing market.

Mortgage rates jumped dramatically this week amid a sell-off of all kinds of bonds, according to data released Thursday.

A six-month decline in mortgage rates has spurred a surge in refinancing while doing little to increase property demand as US unemployment hovers near 10 percent.

As if expecting parents didn’t have enough things to worry about, here comes another thing to fret over: their dimming prospects of buying a home for their growing families.

A New York Times article published Tuesday reported that a pregnancy has become a potential deal-breaker when it comes to securing a home mortgage, even though mortgage rates are the lowest they’ve been in 50 years and home prices are falling.

Mortgage rates mostly fell the past week, with the average rate on 30-year fixed-rate mortgage falling slightly, extending its record low.

Freddie Mac said Thursday the going rate on a 30-year fixed rate mortgage fell to 4.69%, its lowest level since the company started keeping track 38 years ago.