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| Mortgage rates dip this week |
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| Written by Associated Press |
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Frank Nothaft, Freddie Mac’s chief economist, said the economy slowed by an annual rate of 1 percent in the second quarter, “which was more positive than market forecasts.” “Homebuyer demand improved as well, aided by high levels of housing affordability,” Nothaft said. Freddie Mac collects mortgage rates on Monday through Wednesday of each week from lenders around the country. Rates often fluctuate significantly, even within a given day. The average rate on a 15-year fixed-rate mortgage fell to 4.63 percent from 4.69 percent last week, Freddie Mac said. Rates on five-year, adjustable-rate mortgages averaged 4.73 percent, down from 4.75 percent last week. Rates on one-year, adjustable-rate mortgages dropped to 4.78 percent from 4.8 percent. The rates do not include add-on fees known as points. The nationwide fee averaged 0.6 point for every loan in the survey except for one-year adjustable rate mortgages, which averaged 0.5 point. Associated Press |
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- More signs of a housing revival
- Housing construction hits highest in 9 months
- A roundup of real estate personnel items
- Mortgage rates dip, still above record lows
- 25 percent of area families are asset poor, study finds
- Fact or fiction? 'Pay or play' leaves some out
- Madoff's Montauk home: Meet the broker