Feb 3rd 2012 11:50AM
WASHINGTON -- The average rate on the 30-year-fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. But even with the cheapest rates in history, the housing market remains depressed. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.87... Continue Reading »
Oct 14th 2010 5:21PM
It's back to the future for homeowners, as Freddie Mac announces that mortgage interest rates are now at their lowest point since 1951. Americans' bread and butter, the 30-year fixed rate loan, dropped to an average of 4.19 percent this week, down from 4.27 percent a week prior. Fifteen-year loans slid from 3.72 percent... Continue Reading »
Sep 8th 2010 11:22AM
Minnesota homeowner Matt Kreger refinanced his $168,000 mortgage into a 4.75 percent 30-year fixed-rate three weeks ago, to get out of a 5-year, interest-only ARM with a 5.7 percent rate, which was set to change at the end of September. Borrowers such as Kreger were part of a push before Labor Day to close on the... Continue Reading »
Sep 8th 2010 9:14AM
The 30-year fixed rate mortgage, the foundation of the American housing market, may be on the endangered species list, thanks to the Obama administration. Based on recent observations, the Obama administration seems committed to moving American housing policy away from homeownership toward rentals. They would do this by:... Continue Reading »
Jun 17th 2010 4:21PM
Who has the cash to buy a house in full? Hardly anyone. And that's why mortgages play such an important role in making homeownership a more attainable dream for more people. But that's not how many consumers looked at mortgages in the heat of the housing bubble. Too many consumers started to think of mortgages as just... Continue Reading »
