Mortgage rates continue to set new record lows: Freddie Mac

TRD New York /
Jul.July 30, 2010 01:30 PM

Mortgage interest rates have reached record lows for the sixth week in a row, for the week ending July 29, according to data from government-sponsored mortgage giant Freddie Mac. The 30-year fixed-rate mortgage averaged a 4.54 contract interest rate, down from 4.56 percent last week and 5.25 percent during the same week last year. It was the lowest interest rate for the 30-year mortgage recorded in the 30-year history of Freddie Mac’s survey. Its 15-year counterpart averaged 4 percent, down from 4.03 percent last week and 4.69 percent last year. Freddie Mac began tracking the 15-year fixed-rate mortgage in 1991, and its interest rate has never been this low since then. Frank Nothaft, vice president and chief economist for Freddie Mac, noted that the mortgage rate dips come amid mixed reports on the housing market this week. The S&P/Case-Shiller Housing Price Index showed that more cities are seeing price increases and new home sales rose nationwide, while existing home sales slowed. TRD

 

Related Articles

arrow_forward_ios
US home mortgage debt surges past pre-recession record

US home mortgage debt surges past pre-recession record

FHFA director Mark Calabria is ready to set Fannie and Freddie free, while Wall Street worries about potential risks.

Wall Street warns against privatizing Fannie and Freddie without Congress guarantee

FHFA director Mark Calabria (Credit: Federal Housing Finance Agency and Getty Images)

Trump official to pressure Congress to privatize Freddie and Fannie

Mortgage rates plummet to lowest levels in nearly 2 years

Mortgage rates plummet to lowest levels in nearly 2 years

FHFA director Mark Calabria (Credit: Federal Housing Finance Agency and iStock)

Trump’s move to take Fannie and Freddie private could mean higher mortgage costs

President Donald Trump (Credit: Getty Images)

Mortgage guarantors Fannie Mae and Freddie Mac to return to private control

Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry

Corelogic’s chief counsel is leaving the company as it deals with a DOJ inquiry

Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners

arrow_forward_ios
Loading...