Thursday, December 8, 2011

Fixed Mortgage Rates at historic lows, but still no lift in residential housing markets

Freddie Mac said Thursday the rate on the 30-year home loan ticked down to 3.99 percent from 4 percent the previous week. It dropped to a record low of 3.94 nine weeks ago, according to theNational Bureau of Economic Research.
The average rate on the 15-year fixed mortgage was edged down to 3.27 percent from 3.30 percent. Nine weeks ago, it too hit a record low of 3.26 percent.
Rates have been below 5 percent for all but two weeks this year. Yet this year could be the worst for home sales in 14 years.


Anonymous said...

I'd like to think property buyers are getting smarter. Mortgages can look attractive at first, but buyers know how to evaluate the best offers.

IT contractor mortgage

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