Mortgage rates hover near record lows
Trulia Year-Over-Year Price Reductions (Dec 2009 to Dec 2010) by truliavisuals
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
(MoneyWatch) Mortgage rates continue to hover near record lows, according to Freddie Mac data released Thursday. The news comes on the heels of October's employment report, which shows the economy added more jobs than predicted. At this time last year, the 30-year fixed rate mortgage (FRM) fell below four percent for the first time since Freddie Mac started its weekly survey in 1971. Fixed rates hit new record lows the first week in October, when a 30-year FRM averaged 3. 36 percent and a 15-year FRM averaged 2. 69 percent. Mortgage rates for the week ending Nov. 8, 2012 are as follows: 30-year FRM averaged 3. 40 percent, up slightly from last week's average of 3. 39 percent. One year ago, the 30-year FRM averaged 3. 99 percent. 15-year FRM averaged 2. 69 percent this week, down slightly from last week when it averaged 2. 70 percent.
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Frank Nothaft
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Company: Freddie Mac
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Company: FRM
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Organization: National Association of Realtors
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Low rates are good news for buyers and people looking to refinance, but they're also indicative of a slow housing recovery
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Mortgage rates hover near record lows
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- freddie mac
- ilyce glink
- mortgage rates
- nar
- national association of realtors
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