Mortgage rates continue to set new

Miami /
Jul.July 30, 2010 12:45 PM

Mortgage interest rates have reached record lows for the sixth week in a row, according to data from government-sponsored mortgage giant Freddie Mac for the week ending July 29. 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
Daily Digest Miami
Related is heading to the river, Soffer eyes Fontainebleau Miami Beach expansion: Daily digest
Related is heading to the river, Soffer eyes Fontainebleau Miami Beach expansion: Daily digest
Fannie Mae CEO Hugh R. Frater, and Freddie Mac CEO Donald H. Layton
Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners
Fannie Mae and Freddie Mac financing riskier mortgages to indebted homeowners
Home buyers in front of a house (Credit: iStock)
Lenders opening doors to a wider swath of home buyers
Lenders opening doors to a wider swath of home buyers
Mortgage giant Freddie Mac names new CEO amid privatization talks
Mortgage giant Freddie Mac names new CEO amid privatization talks
Mortgage giant Freddie Mac names new CEO amid privatization talks
Buying a home just got easier for many in the gig economy
Buying a home just got easier for many in the gig economy
Buying a home just got easier for many in the gig economy
Private investors are buying more mortgage loans and reselling them as bonds
Private investors are buying more mortgage loans and reselling them as bonds
Private investors are buying more mortgage loans and reselling them as bonds
More Americans are paying mortgages on time
More Americans are paying mortgages on time
More Americans are paying mortgages on time
Should seniors take the rap for the gap in homeownership by millennials?
Should seniors take the rap for the gap in homeownership by millennials?
Should seniors take the rap for the gap in homeownership by millennials?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...