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Mortgage rates dropped to a record low

by Shilpi Paul For the second week in a row, mortgage rates dropped to a new record low. This morning, Freddie Mac reported 3.31 percent with an average 0.7 point as the average on a 30-year fixed-rate mortgage. From Freddie Mac vice president and chief economist Frank Nothaft:

The previous record low of 4.96% was set in the week of Jan. 15. It could be a lot worse. It was a lot worse in the 1981-1982 recession when mortgage rates peaked at about 18.5% in October 1981.

Sluggish Mortgage Demand with Dropping Rates According to the Zillow Mortgage Marketplace, 30-year mortgage rates have dropped to a new record low. Ever since Zillow Mortgage Marketplace began in the year 2008, there has never been a report by them with such low figures.

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NEW YORK, Dec 3 (Reuters) – U.S. mortgage rates dropped to a record low, smashing through a previous record set earlier this year, a closely watched mortgage survey showed Thursday.

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Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week. It was the lowest in the history of Freddie Mac’s survey, which dates back to 1971 and was down a full percentage point from a year ago.

More jobs with more pay translate to more purchasing power, especially in households that have two breadwinners. 3. Low, low.

“Despite low rates, the cloudier economic outlook and ongoing market uncertainty may be keeping some potential homebuyers away from the.

U.S. long-term mortgage rates fell sharply this week, with the benchmark 30-year loan touching its lowest level since November 2016.. fleeing from stocks to the safety of bonds and pushing bond interest-rates to record lows.

Washington – Mortgage rates have sunk to the lowest level in more than five decades, but consumers aren’t rushing to refinance their loans or buy homes. Mortgage company freddie mac said Thursday the average rate for 30-year fixed loans sank to 4.58 percent this week. That’s down from the previous record of 4.69 percent set [.]

Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market. Mortgage finance giant Freddie.

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