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The 15-year fixed mortgage rates this week were the lowest since Freddie Mac began the weekly Primary Market Mortgage Survey in 1991. The 15-year fixed mortgage interest rate averaged 4.32 percent for .6 point. Last week's average was 4.36 percent.
In addition, the 30-year fixed mortgage rates are nearing record breaking lows, averaging 4.83 percent with .7 point. This is down from last week's average of 4.91 percent. These mortgage interest rates are for the week ending November 19, 2009.
Compare Mortgage Interest Rates with Last Year's Rates
Mortgage rates have been on a decline, and are significantly lower than last year's low mortgage interest rates. Last year at this time, the 15-year fixed mortgage rate averaged 5.73 percent, which is 1.4 percent higher than this year's rate of 4.32 percent.
The 30-year fixed mortgage rates averaged 6.04 percent last year at this time, which is 1.2 percent higher than this year's low mortgage interest rate of 4.83 percent.
Best Interest Rates in History Continue to Decline
Mortgage interest rates have been on a decline for quite some time. In addition, the federal government has committed to keeping low interest rates, based on recent statements by Federal Reserve Chairman Ben Bernanke.
Again, the 15-year fixed mortgage interest rates are the best interest rates in the history of the Freddie Mac survey. The fixed mortgage rates on 30-year loans fell for the third week in a row. The mortgage interest rate for a 30-year fixed mortgage rate was the lowest since the week ending May 21st.
Low Mortgage Interest Rates Stimulate Loan Activity
The volume of applications for U.S. mortgages increased last week due to these low interest rates. These best interest rates in history are also contributing to an increased number of home sales. In addition to low mortgage interest rates, the housing market has been helped recently by low housing prices and recently extended homebuyer tax credits.
For a list of the most curent rates please go to: www.lendingtree.com/
In addition, the 30-year fixed mortgage rates are nearing record breaking lows, averaging 4.83 percent with .7 point. This is down from last week's average of 4.91 percent. These mortgage interest rates are for the week ending November 19, 2009.
Compare Mortgage Interest Rates with Last Year's Rates
Mortgage rates have been on a decline, and are significantly lower than last year's low mortgage interest rates. Last year at this time, the 15-year fixed mortgage rate averaged 5.73 percent, which is 1.4 percent higher than this year's rate of 4.32 percent.
The 30-year fixed mortgage rates averaged 6.04 percent last year at this time, which is 1.2 percent higher than this year's low mortgage interest rate of 4.83 percent.
Best Interest Rates in History Continue to Decline
Mortgage interest rates have been on a decline for quite some time. In addition, the federal government has committed to keeping low interest rates, based on recent statements by Federal Reserve Chairman Ben Bernanke.
Again, the 15-year fixed mortgage interest rates are the best interest rates in the history of the Freddie Mac survey. The fixed mortgage rates on 30-year loans fell for the third week in a row. The mortgage interest rate for a 30-year fixed mortgage rate was the lowest since the week ending May 21st.
Low Mortgage Interest Rates Stimulate Loan Activity
The volume of applications for U.S. mortgages increased last week due to these low interest rates. These best interest rates in history are also contributing to an increased number of home sales. In addition to low mortgage interest rates, the housing market has been helped recently by low housing prices and recently extended homebuyer tax credits.
For a list of the most curent rates please go to: www.lendingtree.com/
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The 15-year fixed mortgage rates this week were the lowest since Freddie Mac began the weekly Primary Market Mortgage Survey in 1991. The 15-year fixed mortgage interest rate averaged 4.32 percent for .6 point. Last week's average was 4.36 percent.
In addition, the 30-year fixed mortgage rates are nearing record breaking lows, averaging 4.83 percent with .7 point. This is down from last week's average of 4.91 percent. These mortgage interest rates are for the week ending November 19, 2009.
Compare Mortgage Interest Rates with Last Year's Rates
Mortgage rates have been on a decline, and are significantly lower than last year's low mortgage interest rates. Last year at this time, the 15-year fixed mortgage rate averaged 5.73 percent, which is 1.4 percent higher than this year's rate of 4.32 percent.
The 30-year fixed mortgage rates averaged 6.04 percent last year at this time, which is 1.2 percent higher than this year's low mortgage interest rate of 4.83 percent.
Best Interest Rates in History Continue to Decline
Mortgage interest rates have been on a decline for quite some time. In addition, the federal government has committed to keeping low interest rates, based on recent statements by Federal Reserve Chairman Ben Bernanke.
Again, the 15-year fixed mortgage interest rates are the best interest rates in the history of the Freddie Mac survey. The fixed mortgage rates on 30-year loans fell for the third week in a row. The mortgage interest rate for a 30-year fixed mortgage rate was the lowest since the week ending May 21st.
Low Mortgage Interest Rates Stimulate Loan Activity
The volume of applications for U.S. mortgages increased last week due to these low interest rates. These best interest rates in history are also contributing to an increased number of home sales. In addition to low mortgage interest rates, the housing market has been helped recently by low housing prices and recently extended homebuyer tax credits.
www.realestate.com/news/mortga…
In addition, the 30-year fixed mortgage rates are nearing record breaking lows, averaging 4.83 percent with .7 point. This is down from last week's average of 4.91 percent. These mortgage interest rates are for the week ending November 19, 2009.
Compare Mortgage Interest Rates with Last Year's Rates
Mortgage rates have been on a decline, and are significantly lower than last year's low mortgage interest rates. Last year at this time, the 15-year fixed mortgage rate averaged 5.73 percent, which is 1.4 percent higher than this year's rate of 4.32 percent.
The 30-year fixed mortgage rates averaged 6.04 percent last year at this time, which is 1.2 percent higher than this year's low mortgage interest rate of 4.83 percent.
Best Interest Rates in History Continue to Decline
Mortgage interest rates have been on a decline for quite some time. In addition, the federal government has committed to keeping low interest rates, based on recent statements by Federal Reserve Chairman Ben Bernanke.
Again, the 15-year fixed mortgage interest rates are the best interest rates in the history of the Freddie Mac survey. The fixed mortgage rates on 30-year loans fell for the third week in a row. The mortgage interest rate for a 30-year fixed mortgage rate was the lowest since the week ending May 21st.
Low Mortgage Interest Rates Stimulate Loan Activity
The volume of applications for U.S. mortgages increased last week due to these low interest rates. These best interest rates in history are also contributing to an increased number of home sales. In addition to low mortgage interest rates, the housing market has been helped recently by low housing prices and recently extended homebuyer tax credits.
www.realestate.com/news/mortga…
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A group of state officials is calling for improvement in foreclosure prevention programs as a way to help bring down the nation's mortgage foreclosure rate.
According to the Conference of State Bank Supervisors, the pace of delinquent home loans is continuing to grow despite recent state and federal efforts to stem the tide. At this point, about 60 percent of people facing foreclosure procedures are not involved in foreclosure prevention programs.
However, those that are participating in such programs are said to be facing serious backlogs of as much as six months that threaten their ability to stay in their homes. The organization notes that the current mortgage problem is no longer confined to just exotic loan products, with prime loans now accounting for a significant portion of foreclosures as well.
"We certainly have not turned the corner on the foreclosure problem, despite major and commendable federal and state efforts. We've said it before, and we are saying it now: Servicers must do even more to slow the tide of unnecessary foreclosures," said Iowa Attorney General Tom Miller.
With these things in mind, the group warns that programs emphasizing monthly payment reductions alone are likely to fail in the long run without also incorporating loan principal reduction. Members also called for more transparency in the federal HAMP program, among other measures.
www.realestate.com/news/mortga…
According to the Conference of State Bank Supervisors, the pace of delinquent home loans is continuing to grow despite recent state and federal efforts to stem the tide. At this point, about 60 percent of people facing foreclosure procedures are not involved in foreclosure prevention programs.
However, those that are participating in such programs are said to be facing serious backlogs of as much as six months that threaten their ability to stay in their homes. The organization notes that the current mortgage problem is no longer confined to just exotic loan products, with prime loans now accounting for a significant portion of foreclosures as well.
"We certainly have not turned the corner on the foreclosure problem, despite major and commendable federal and state efforts. We've said it before, and we are saying it now: Servicers must do even more to slow the tide of unnecessary foreclosures," said Iowa Attorney General Tom Miller.
With these things in mind, the group warns that programs emphasizing monthly payment reductions alone are likely to fail in the long run without also incorporating loan principal reduction. Members also called for more transparency in the federal HAMP program, among other measures.
www.realestate.com/news/mortga…
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Shoppers are hitting the malls and stores for deals this holiday season, and they are also looking for deals when it comes to a new home mortgage. Demand for U.S. home loans rose last week to the highest level in about two months. The Mortgage Bankers Association says borrowers are taking advantage of low mortgage rates to refinance.
Nearly three of every four loan requests was for refinancing, rather than a purchase. Home buyers remain cautious as our economy remains unstable from double-digit unemployment, and a fear of more job losses.
New Mortgage Bankers Survey Shows:
* New loan application activity increased 2.1 percent
* Purchase Index increased 4 percent
* Refinance Index jumped 11.1 percent
* Refinances accounted for 74.4 percent of loan activity.
www.realestate.com/news/mortga…
Nearly three of every four loan requests was for refinancing, rather than a purchase. Home buyers remain cautious as our economy remains unstable from double-digit unemployment, and a fear of more job losses.
New Mortgage Bankers Survey Shows:
* New loan application activity increased 2.1 percent
* Purchase Index increased 4 percent
* Refinance Index jumped 11.1 percent
* Refinances accounted for 74.4 percent of loan activity.
www.realestate.com/news/mortga…
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Home loan modification programs are starting to gain traction, helping homeowners avoid foreclosure, while reworking mortgage loans that had pushed them to the breaking point.
The Treasury Department says more than 168,000 households in February received permanent new mortgage loans under its year-old modification program, up from 117,000 in January and 67,000 in December. An additional 92,000 permanent modifications are pending.
The government says borrowers with new, permanent home loan modifications save an average of 500 dollars a month.
The homeowner rescue effort is one of President Barack Obama administration's biggest initiatives to help the housing market, and indirectly the larger economy.
Many critics still believe it has over promised and under delivered, considering six million people are behind on their payments and at risk of foreclosure. The program was introduced as a stability initiative that would lower payments for nearly four million homeowners. But the number of trial modifications, which last three to five months, has barely surpassed a million, and the growth is slowing.
www.realestate.com/news/mortga…
The Treasury Department says more than 168,000 households in February received permanent new mortgage loans under its year-old modification program, up from 117,000 in January and 67,000 in December. An additional 92,000 permanent modifications are pending.
The government says borrowers with new, permanent home loan modifications save an average of 500 dollars a month.
The homeowner rescue effort is one of President Barack Obama administration's biggest initiatives to help the housing market, and indirectly the larger economy.
Many critics still believe it has over promised and under delivered, considering six million people are behind on their payments and at risk of foreclosure. The program was introduced as a stability initiative that would lower payments for nearly four million homeowners. But the number of trial modifications, which last three to five months, has barely surpassed a million, and the growth is slowing.
www.realestate.com/news/mortga…
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