Mortgage Rates Reach New AllTime Lows Again

first_imgMortgage Rates Reach New All-Time Lows. Again January 19, 2012 440 Views in Data, Government, Origination, Secondary Market, Servicing Interest rates for mortgage loans plunged to new lows Thursday, as debt crises in Europe continued to weigh heavily on investors.[IMAGE]Finance Web site “”Bankrate.com””:http://www.bankrate.com/ and mortgage company “”Freddie Mac””:http://www.freddiemac.com/ released separate surveys signaling all-time lows for mortgage rates.For Freddie, the 30-year fixed-rate loan fell to 3.88 percent, down from 3.89 percent last week. Bankrate.com revealed rates for the 30-year mortgage staying the same at 4.18 percent.””There has been no progress toward resolving the European debt crisis, which is helping keep mortgage rates at record low [COLUMN_BREAK]levels,”” says “”Greg McBride””:http://www.bankrate.com/blogs/federal-reserve/about-greg-mcbride-cfa.aspx, a senior financial analyst with Bankrate.com.Ratings agency Standard & Poor’s recently downgraded several eurozone economies, including France, Italy, and Spain, citing concerns over their ability to avoid sovereign default and achieve growth.The 15-year fixed-rate mortgage went up a percentage point for Freddie, reaching 3.17 percent, up from 3.16 percent last week. Bankrate.com reported rates for the 15-year loan likewise inching forward to 3.39 percent, up from 3.38 percent last week.Adjustable-rate mortgages (ARMs) also stayed roughly the same for Freddie, which saw 5-year ARMs hover at 2.82 percent, unchanged from last week, and 2.74 percent, down from 2.76 percent last week.Bankrate.com reported that 5-year and 1-year ARMs rose to 3.06 percent, up from 3.04 percent last week.””Frank Nothaft””:http://www.freddiemac.com/bios/exec/nothaft.html, VP and chief economist with Freddie, suggested in a statement that mortgage rates remain low even while certain elements of the economy showed signs of revival.He cited a Reuters/University of Michigan consumer sentiment index that lifted in January to reach the highest reading since February last year.center_img Adjustable-Rate Mortgage Agents & Brokers Confidence Debt Crisis Euro European Union Fixed-Rate Mortgage Freddie Mac Housing Affordability Investors Lenders & Servicers Mortgage Rates Processing Service Providers 2012-01-19 Ryan Schuette Sharelast_img

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