Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
30-year mortgage rate lowest since May Freddie Mac
WASHINGTON (11/23/09)--Freddie Mac this week reported an average 30-year mortgage rate of 4.83 percent, the lowest mortgage rate of its type reported since the week ended May 21. Thirty-year mortgages averaged 6.04% during the same week of 2008 and 4.91% during through the end of last week. Fifteen year fixed rates, which averaged 4.32% during the week ended Nov. 19, were the lowest since Freddie Mac began tracking its weekly rates in 1991, Freddie Mac Vice President and Chief Economist Frank Nothaft said. “Low fixed rates throughout the third quarter prompted an estimated $1.1 trillion in refinancing activity, saving homeowners about $10 billion in aggregate monthly payments over the first 12 months of their new loan,” Nothaft added. Five-year and one-year Treasury-indexed hybrid adjustable-rate mortgages averaged 4.25% and 4.35%, respectively, during the week. Both rates represent slight decreases from the numbers reported during the previous week, and significant decreases from the rates reported during the corresponding period of 2008.


RSS





print
News Now LiveWire
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
41 minutes ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 hours ago
Data breach fatigue? No wonder: 45% of Americans said they had received breach notification from retailer/card-issuer http://t.co/gRIuZanUNQ
3 hours ago
Season's greetings from playlists to cookies #NewsNow http://t.co/5gu8nrCoyL
3 hours ago
Panelists decrypt payment trends for #creditunion leaders http://t.co/rXvI63w1sU
3 hours ago