Mortgage rates sink to new lows

TRD New York /
May.May 25, 2010 02:15 PM

Mortgage rates are now at historic lows, CNBC reported. The current average rate for a 30-year fixed loan is at 4.87 percent, according to, the lowest rate for the 30 years since Bankrate started tracking these rates 25 years ago. This figure is slightly higher than last week’s Freddie Mac data, which put the 30-year fixed-rate mortgage at an average contract interest rate of 4.84 percent. Jumbo loan rates — loans for more than $417,000 — have fallen as well, Bankrate, an aggregator of financial rate information determined, with the 30-year fixed loan rate at 4.5 percent, down from nearly 6 percent at this time last year. The drop can be attributed to the European debt crisis, as nervous investors flock to the U.S. Treasury Securities, which influences a host of consumer interest rates, including those on mortgages, according to CNBC. But analysts say the decline in rates probably won’t last, as worries over Europe fade and investors look at other assets besides U.S. Treasury Securities. [CNBC]


Related Articles

Some investors continue to find U.S. commercial real estate as attractive places to park their capital (Credit: iStock)

Brexits and Bubbles: How investors view Europe’s shaky real estate market

The bank is accused of systematically trying to foreclose on mortgages after the state’s six-year statute of limitations had passed. (Credit: iStock)

BNY Mellon faces suit over foreclosures from the housing crash

Seattle, Washington (Credit: iStock)

Good luck buying an affordable home in these US cities

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

They’re just like us! “Billionaire” manse buyer takes out $58M mortgage

Buyer sentiment was strong at the close of 2019 (Credit: iStock)

Home buyers start 2020 with drop in mortgage rates

(Credit: Getty Images, iStock)

Small Talk: Real Estate Predictions for 2020

Many are predicting a housing bubble (Credit: iStock)

Europe could be headed toward a housing crisis

Housing and Urban Development Secretary Ben Carson (Credit: Getty Images, iStock)

HUD wants to jumpstart bank lending on low-income homes