Rate on 30-year mortgage falls to record 3.87 pct.
阅读[6747] 回复[0] 打印 | 收藏
字体大小: 小 | 大
|
Rate on 30-year mortgage falls to record 3.87 pct.
WASHINGTON (AP) -- The average rate on the 30-year fixed mortgage fell this week to a record low, the ninth time that has happened in the last year. Even with the cheapest rates in history, the housing market remains depressed.
, _* a! W1 S+ D% m- zMortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.87 percent this week. That below the previous record of 3.88 hit two weeks ago.
6 Z7 @% H, G( V1 e2 A2 y+ K; s- `9 wThe average on the 15-year fixed mortgage fell to 3.14 percent, also a record low. Records for mortgage rates date back to the 1950s. ! w5 O' c0 \7 u/ d
Mortgage rates tend to track the yield on the 10-year Treasury note, which fell below 1.9 percent this week. ) q0 V% P* Z" g% }& E8 j$ s
Rates have been low for more than a year, and the average rate on the 30-year loan has hovered near 4 percent for more than three months. Yet few people can afford to buy a home or qualify for a loan. Those who can have already done so. % e5 }/ w% M, S V- ?' X
High unemployment and scant wage gains have made it harder for many people to qualify for loans. Many don't want to sink money into a home that they fear could lose value over the next few years. & ]& h: }) t, Q
Sales of previously occupied homes were dismal last year. New-home sales in 2011 were the worst on records going back half a century.
- r4 y; A" _$ }$ n2 x, }Builders are hopeful that the low rates could boost sales next year. But so far, they have had a minimal impact. ! X6 L/ j2 T5 G
2 c3 G# e4 H6 H1 O7 `9 YMortgage applications have risen slightly over the past four weeks, according to the Mortgage Bankers Association. But they are coming off extremely low levels.
j5 d/ O0 z p6 a4 LTo calculate the average rates, Freddie Mac surveys lenders across the country Monday through Wednesday of each week. 1 F8 C% g$ C+ y( a- t
The average rates don't include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount. & z/ t- u3 k0 l
The average fee for the 30-year loan rose to 0.8 from 0.7; the average on the 15-year fixed mortgage was unchanged at 0.8.
- ? u( q! i0 e4 AFor the five-year adjustable loan, the average rate fell to 2.80 percent from 2.85 percent. The average on the one-year adjustable loan rose to 2.76 percent from 2.74 percent.
; s4 Y& }3 I6 u: K/ l% L5 r: MThe average fee on the five-year adjustable loan rose was unchanged at 0.7; the average on the one-year adjustable-rate loan was unchanged at 0.6. |
|
|
|
|