Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Washington
30- 15-year rates set new lows for 2011
WASHINGTON (5/31/11)--Thirty- and fifteen-year fixed-rate mortgages continued to slide during the week ended May 26, setting new yearly low points, with 30-year loans averaging 4.60% and 15-year loans averaging 3.78%. The previous lows for this year were set last week. Freddie Mac Vice President/Chief Economist Frank Nothaft said that reports of slowed economic activity cause the decreased mortgage rates. Nothaft added that U.S. home prices may bottom out soon, as prices only fell by 0.3% between February and March. Five-year and one-year adjustable rate mortgages (ARM) also fell during the week, averaging 3.41% and 3.11%, respectively. Those rates stood at 3.48% and 3.15% last week. Five-year ARMs averaged 3.97% this time last year, while one-year ARMs averaged 3.95%.
Other Resources

RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
3 hours ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
3 hours ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
6 hours ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
7 hours ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
8 hours ago