30 year fixed mortgage rates fell to 4.82%-last week?30 year fixed mortgage rates fell to 4.82% from 4.87% the previous week.which has been below 5 percent for five consecutive weeks.
Mortgage rates fell dramatically over the past monthes.last month,when the Federal Reserve said it would buy $1.2 trillion in mortgage-backed securities and $300 billion in long-term government debt,the mortgage rates fell further.In particular the average rates on 30-year fixed-rate mortgages.
Low rates have made a surge in refinancing activity.with nearly 80 percent of new home loan applications coming from borrowers seeking to refinance.
The average rate on a 15-year fixed-rate mortgage fell to 4.48 percent.which is low 0.06% than 4.54 % on previous week.Rates on five-year adjustable-rate mortgages fell to 4.88 percent from 4.93 percent and rates on one-year adjustable-rate mortgages rose to 4.91 percent from 4.83 percent.
Qualifying for a loan is still tough.Lenders have tightened their standards dramatically over the past year, so the best rates are available only to those with solid credit.
Last Saturdays,Frank Nothaft,chief analyst in United States mortgage.pointed out that home sales near the bottom in the country. the current one-third of sales real estate are foreclosure housing. However, Nothaft also said that the existence of the default risk of loans in arrears in the future.Rising unemployment is the major factor drive borrowers to be subprime.and the decline in house value also increased the risk of foreclosure.
He pointed out that Federal Housing Administration (FHA)make a surge in refinancing.the 30 year fixed mortgage rates is the lowest in the past 50 years.
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on Apr 23rd, 2009 at 4:39 am
[...] link: 30 year fixed mortgage rates    what does the financial term refinancing mean  mortgage refinancing calculator   [...]
on Apr 30th, 2009 at 7:42 am
[...] filed 18.1% last week than the previous week by the seasonally adjusted reason. As to 24th April, 30 year fixed mortgage rate averaged 4.62%, down from 4.73% the previous [...]
on Oct 12th, 2009 at 3:07 pm
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on Feb 21st, 2010 at 4:29 pm
On another note, the federal reserve just raised the discount rate that banks pay at the emergency discount window. Although this does not directly impact mortgage rates, it does set the tone that future rate hikes are not out of the question.
This also will have a tremendous impact on both the 15 and 30 year fixed rate mortgage rates.